A house door with your name on it is the ultimate dream of any living individual. In India, owning your own house is considered as one of the major signs of success. As the average income ratio of Indians is increasing with globalization, the desire to buy your own house is also increasing simultaneously. Along with this, the price of property too is increasing day by day, irrespective whether it's an urban or rural area..
Thus it becomes highly impossible for a common man to buy a house only with his or her savings. This has lead to an increase and extreme popularity in purchasing home loans from Banks and NBFCs to fulfill their dream. Home loans is the best selling banking product. It also assures a stronger and longer relationship with your bank. A home loan that is also known as a housing loan refers to an amount borrowed by a consumer from a bank or NBFC to buy, construct, repair or renovate a residential property. This borrowed amount or loan is lent on a fixed or flexible tenure and an interest rate on the borrowed amount. The borrower is supposed to pay off the principal amount of loan with the interest within the fixed tenure.
The maximum term of your home loan can be up to 30 years and it cannot extend beyond your retirement age or 60* years (whichever is earlier). *60 years for salaried individuals and 70 years for self-employed individuals.
You can get a home loan up to 90% of the cost of a chosen selected property for the loan requirement up to Rs. 30 Lakh*, depending upon the loan amount required.
Your home loan amount depends on your annual income and your ability to repay the loan. You can increase your home loan amount by adding an earning co-applicant.
Your home loan interest rate starts from 6.5%* p.a. Know more about fees and charges (*T&C Apply)
You can pay your home loan EMIs through:
Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank
Post Dated Cheques (PDCs) - Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available.)
*As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.
Loan Term
Loan Amount
Interest Rate & Charges 
Modes of Repayment
Tax Benefits