Best Home Loan In India
Want to know which is the Best Home loan provider in India for March 2017?
Building or buying home is a dream of every person. Do you want to fulfill your dream of having your own house?Now, changing your dream into reality is possible with OneClickFinance! We believe in loans by choice and not by chance. At OneClickFinance, We give you a chance to compare the best offerings in the market and make the best possible choice.
Latest Update as on 12 Jan 2017 – Great News!! Bank of Baroda offers lowest rates in market 8.35% its around .25% lower than SBI. Wow!! what a great news for home loan borrowers, interest rates coming down to 8.60% which is the lowest of last 6 years. Now SBI is the king of home loan market with 8.50% ROI for women & 8.55% for others. Fixed rate starts from 8.50% for first two years. EMI coming down to 768 per lakh
Interest rates for the month of March 2017
| Bank Name | Interest Rate | |
| HDFC LTD | 8.65% - 8.75% | |
| ICICI Bank | 8.65% - 8.85% | |
| PNB Housing | 8.45% - 8.50% | |
| Axis Bank | 8.65% - 8.70% | |
| LIC Housing | 8.50% - 8.90% | |
| Allahabad | 8.85% |
| Bank Name | Interest Rates |
| IDBI Home Loan | 9.15%-9.20% |
| Bank Of India | 8.65% – 8.70% |
| Canara Bank | 8.65%-8.75% |
| Syndicate Bank | 8.75% |
| Bank of Baroda | 8.35% - 8.55% |
| City Bank | 8.80% – 9.30% |
banks that are currently favorite of home loan borrowers as per ICRA
| S No. | Bank Name | Market Percentage | |
| 1 | SBI Home Loan | 25.50% | |
| 2 | HDFC Ltd | 24.13% | |
| 3 | LIC Housing | 15.83% | |
| 4 | ICICI Bank | 13.10% | |
| 5 | PNB Housing Finance | 6.23% | |
| 6 | IDBI Home Loan | 4.67% | |
| 7 | Axis Bank | 4.22% | |
| 8 | Others | 6.32% |
banks that are currently favorite of home loan borrowers as per ICRA
| Lender | Loans in Crore | Market Share | |
| HDFC Ltd | 176000 | 16.60% | |
| SBI | 170899 | 16.20% | |
| ICICI Bank | 99327 | 9.40% | |
| Axis Bank | 57335 | 5.40% | |
| DHFL | 38964 | 3.70% | |
| Can Fin | 9278 | 0.90% | |
| LIC HFL | 114069 | – | |
| Indiabulls | 58224 | – | |
| GIC Housing | 7224 | 0.70% |
| Bank | Processing Fees | Pre Payment Charges |
| ICICI Bank | 0.50% – 1.00% of the loan amount or Rs. 1500/- (Rs. 2000/- for Mumbai, Delhi & Bangalore), whichever is higher + applicable Service Tax & Surcharge | Nil |
| HDFC | Ltd 0.5% or 10,000+service tax, whichever is higher | Nil |
| SBI Home Loan | Nil till 31.03.2017 | Nil |
| Axis Bank | Up-to 1% of the loan amount subject to minimum of Rs.10,000/- | Nil |
| LIC Housing | Up to 50 lacs : 10,000 +(Service tax) 50 lacs & above : 15,000 +(service tax) | Nil |
| IDBI Home Loan | Nil | Nil |
| PNB Home Loans | 0.50% of the loan amount | Nil |
| Allahabad Bank | 0.50% of the loan amount or maximum of Rs 10,000/- + service tax | NA |
| Citibank | Rs.5000 (Application fee) | Nil |
| Syndicate Bank | 0.12% of the loan amount or maximum Rs 5,000 0.12% of the loan amount or maximum Rs 5,000 NA | NA |
| Punjab National Bank | Nil | Nil |
| Bank of Baroda | 0.25% of the loan amount or maximum of Rs 20,000 | NA |
The procedure to apply for home loan is a bit time consuming. You have to submit a large set of income and property related documents and the approval of the loan differs from bank to bank. There are many agents who specialize in the bank processes, but the credibility of such agents is under question. So, to choose the best bank to apply for home loan as per your convenience, you must do a little research in advance. Keeping in mind the above things, you can surely save yourself from wasting your time as well as from fraud agents. We at OneClickFinance.com are available for your service through this process and to guide you in making a diligent choice between Good and Bad loan.