Nowadays, the home loan is a very demanding option for those people who want to build or purchase their own house but they cannot afford the expenses for construction of the house. For such people, there are many banks and non-banking financial companies available in India who provide the home loan at attractive interest rates and other beneficial offers.
Here are some of the top home loan providers that you can keep in mind while taking a home loan:
1) State Bank of India (SBI):
State Bank of India also known as SBI is the largest public sector bank in India which has been a trusted presence for the past several decades. SBI is a most preferred Home Loan Provider, it offers home loans that are affordable, have no hidden charges and are flexible to provide maximum convenience to the customer. The loan tenure for SBI home loans are longer as for 30 years and there are no pre-closure charges. State Bank of India provides a wide range of home loan products including purchase or construction of new house, purchase of an existing house, purchase of a plot of land for construction of house and extension, repair, renovation or alteration of an existing house, etc. which are tailored to meet all the requirement of different customer segments.
2) Housing Development Finance Corporation Limited (HDFC):
HDFC Bank is India’s second largest private sector bank and also a leading provider of home loans in India. With the number of home loan products provided by HDFC including home extension, construction, plot and land loan, home improvement loan, etc. it also provides home loan separately for salaried and self-employed individuals. Some of the notable benefits of HDFC home loans include competitive interest rates, hassle-free loan processing, no hidden charges, and flexible loan terms, etc. which make it different from other lenders.
3) PNB Housing Finance Limited:
PNB Housing Finance Limited (PNBHFL) is a 28 years old public sector housing finance company. The company is promoted by Punjab National Bank (PNB) and is it registered with the National Housing Bank (NHB). The home loans availed from PNB Housing Finance Limited can be utilized for a number of purposes such as the purchase of a house or property, construction of a new house, extension in an existing house and for making improvements to the interiors of the house. Home loans offered by PNB Housing Finance Limited can be availed by both the resident Indians as well as NRIs.
4) LIC Housing Finance Limited:
LIC Housing Finance Limited (LIC HFL) is among one of the biggest providers of home loans and it is a subsidiary of Life Insurance Corporation (LIC) of India. The main objective of the LIC HFL is to provide long-term finance of up to 30 years to the individuals for construction, purchase of house or plot, renovation, extension and much more. Some of the key benefits provided by LIC HFL on their home loans include flexible repayment periods, quick loan processing, zero processing fee, zero pre-closure charges, no partial pre-payment charges, longer loan tenure, affordable interest rates, etc.
5) Axis Bank:
Axis Bank Limited which is formerly known as UTI Bank is India’s third largest private sector bank. Axis Bank provides a wide range of banking solutions to the customers, of which housing loans are one of the most popular and attractive product. Home loan from Axis Bank can be availed easily either by visiting one of their numerous branches across the nation or by applying online. Axis Bank home loan has various features such as extremely affordable interest rates, simple documentation, flexible loan tenure, fast and easy loan processing for both self-employed and salaried individuals, etc. Axis Bank also provides Balance Transfer facility on home loan for those customers who want to transfer their home loan balance from existing bank to the Axis Bank.
6) Yes Bank:
Yes Bank is the fifth largest private sector bank in India. Yes Bank offers home loan in partnership with Dewan Housing Finance Corporation (DHFL). It provides the home loan at high loan amount which ranging from 5 lakhs to 5 crores. Yes Bank home loans are offered for self-employed professionals as well as salaried applicants. Yes Bank home loan services come with a host of customer-centric features and flexible repayment options which will make your home loan, a hassle-free experience. The home loan provides by Yes Bank can be used for the purchase of house or plot, construction of the house or flat, extension and renovation of the existing property.