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Top 10 Home Loan Companies in India

Updated on : Dec 17, 2019 3:36 PM
Top 10 Home Loan Companies in India

Buying a house is one of the biggest financial investments that you can make and it also gives you a sense of accomplishment like no other. However, since the property rates are so high, it is difficult to buy a house, just by relying on our savings. Almost everybody has to take a home loan. It is a huge responsibility to take a home loan and having to pay off your debts every month; however, there are some benefits of taking a home loan as well. The first one is that it is a very good investment as property prices are booming. It is one of the best capital appreciation methods. You also get a good tax benefit. A loan also works really well to improve your credit history. Here are some of the best home loans in India:

Here is the List of Top 10 home loan companies in India

1. HDFC Home Loans 
2. IDFC Home Loan 
3. Indiabulls home loan 
4. LIC Housing Finance Ltd 
5. ICICI Home Finance 
6. L&T Housing Finance Limited 
7. PNB Housing Finance Limited 
8. DHFL Home Loans 
9. SBI Home Loan 
10. Bank Of Baroda Home Loan 
Rating and Reviews
1.18
213 Votes
Description

It is a subsidiary of L and T Finance Holdings Limited. It was incorporated as Weizmann Homes Limited on 31st August 1994 under the companies act, 1956. It offers eligible borrowers a loan amount ranging from 5 lakh to 10 crores at attractive interest rates. It comes with flexible loan repayment options that extend for a period of up to 30 years. 

The rate of interest is competitive. The loan that you can opt for can be both floating and fixed. The margin is as low as 10% that loans up to 90% of the market value of the property can be availed. The documentation process is simple and they offer products based on your income. The repayment scheme is very easy as well. 

Rating and Reviews
2.3
266 Votes
Description

It is the largest mortgage lender in India and has helped 30 lakh families achieve their dream of buying a house. The product range is very wide, they have an overdraft facility, low-interest rates, low processing fees, no hidden costs, no pre-payment penalty. 

The interest rates are really low and the home loan is available as an overdraft. The processing charges are low and there are no hidden costs. There are no prepayment penalties as well. 

Rating and Reviews
2.07
399 Votes
Description

It is a company that is based in Mumbai and it is a major provider of finance for housing in India. It also has a major presence in banking, life and general insurance, asset management, venture capital, realty, education, deposits and education loans. It was founded in 1977 as the first specialized mortgage company in India and was promoted by the Industrial Credit and Investment Corporation of India. Hasmukhbhai Parekh played a key role in the formation of this company. 

HDFC home loans come with attractive interest rates that make home loans affordable and easier on your pocket. The repayment options are customized and suit your needs. There are no hidden charges and you will need expert legal and technical counselling to help you make the right home-buying decisions. Up to 0.50% of the loan amount or INR 3,000 whichever is much higher is the processing fee, plus taxes are applicable. 

HDFC was awarded as India’s leading housing finance company at the Dun and Bradstreet BFSI Awards 2019. It is recognized as one of the best brands by Economic Times. It is also awarded as the best private sector financial institution at PMAY. 

Rating and Reviews
2.29
319 Votes
Description

They offer money to people who want to purchase a house, renovate a house and do a home extension. The house itself is the security for the loan. It provides finance and advisory services for infrastructure projects as well as asset management and investment banking. Vikram Limaye is the CEO of the company. It was founded in 1997. The maximum tenure for this loan is 30 years. 

The minimum age is 21 and the maximum age is 60. The benefits of taking the tax from this company are that you can get a flexible loan tenure. The maximum loan tenure is 360 months for salaried professionals and maximum of 300 months for self-employed. The loan amount that is offered is from 5 lakhs to about 5 crores in more than 57 locations across India at competitive interest rates.  Their Pradhan Mantri Awas Yojana is a good scheme under which you can avail interest subsidy benefit up to 2.67 lakhs. The loan processing is simple and hassle-free with minimum turnaround time with them.  You get up to 90% of the cost of the property based on eligibility and you also get pre-approved loans available as per the requirement with no hidden charges. The term loan is secured against residential properties. You do not require a guarantor or pre-closure and part payment fee. You can get a competitive interest rate that starts from 8.90% per annum. 

They have got the outstanding corporate transformation India 2018 award.  They have also got the most inspirational leveraged management buyout, India award. The Economic Times Game Changers Award is also theirs. 

Rating and Reviews
2.35
412 Votes
Description

Indiabulls Housing Finance Limited is a mortgage lender which has their headquarters in New Delhi, India. It is the second largest housing finance company and is regulated by the National Housing Bank. 

The documentation of this loan process is very simple and the prepayment charges are zero. They also have multiple loan repayment options, quick approval and disbursal and attractive interest rates. The loan tenure period is also flexible and you will get maximum loan to value. 

This company ranked 20th among India’s best companies to work for 2019 and also got an Award for Excellence in Cost Management. 

Rating and Reviews
1.72
85 Votes
Description

It is one of the largest housing finance mortgage loan companies in India having its registered and corporate office at Mumbai. The CEO is Siddhartha Mohanty and it has its headquarters in Mumbai. 

They give up to 85% of the total cost of the property for loans up to 20 lacks and 80% of the total cost above 20 lacks and 75% for a loan that is above 75 lacks. The tenure range is 5-30 years and the loan amount that you get is 30 lakhs to 5 cores. The interest rate range is about 8.40% to 8.50%. The processing fee is up to 15,000 plus service charges and the penal interest rate is 2% per month on the instalment amount. This scheme can be availed after retirement as well. 

You will not need any guarantor, no pre-closure and post-closure fee is required as well. 

Rating and Reviews
1.3
2,434 Votes
Description

It was founded in 1999 and is one of the leaders in the mortgage finance and realty space. It is registered with National Housing Bank (NHB) which is the regulatory authority for the Housing finance companies. 

With this loan service, you can track your loan, enjoy low EMI and step up your loan offer. First-time buyers also get subsidy benefits. The minimum deposit tenure is 12 months and the maximum deposit tenure is 60 months. It is a fixed loan and there are no tax deductions at source on interest. 

You can also generate an instant sanction letter with no documentation, get a quick solution to your financial needs and get avail subsidy to benefit up to 2.67 lakhs. 

Rating and Reviews
2.63
143 Votes
Description

PNB Housing Finance is an Indian public limited company that is headquartered in New Delhi with its branches across major cities in India. It is headquartered in New Delhi with branches in major cities across India. 

The tenure range is 1-30 years and the interest rate is 9.25%-9.50%. The processing fee is 0.50% and the loan amount is 8 lakhs minimum. The floating rate of interest is linked to the benchmark rate-PNBHFR that gives you lower rates of interest when compared to loans with fixed interest rates and gives you good savings over a long time. It is tied to prominent insurance companies so that you can get your loan repayments insured. They have a wide range of loan products within the home loan category including loans for home improvement, home extension and purchase of plots. The repayment tenure is of 30 years and they offer loans in a stress-free manner. 

Rating and Reviews
2.32
293 Votes
Description

The interest rates start from 8.70% p.a and the tenure goes up to 30 years and the repayment options are also really easy. They offer a loan amount of up to 10 crores and the processing fee is as low as 0.25% of the loan amount. 

This loan has a tenure of 30 years and the repayment options are really easy. The interest rate range is floating and you will not need a guarantor. There is no pre-closure and part payment fee as well. 

The interest rates are attractive and the processing fees are low as well. You get a free accident cover on your loan as well. The benefits of taking the loan from this bank are that the sanctioned loan is linked to your savings account. Borrowers can deposit their savings to the linked account and enjoy better interest benefits in the loan account. The interest is charged on a daily outstanding credit balance in the linked saving bank account. EMIs are recovered only from a linked savings account. 

These home loan companies can make your dream of buying a house come true. 

Rating and Reviews
2.43
372 Votes
Description

It is a deposit-taking housing finance company that is headquartered in Mumbai with major cities across India. Kapil Wadhawan is the CEO of this company. The maximum tenure of your home loan can be up to 30 years and cannot extend beyond your retirement age. Your home loan interest rates start from 9.75%. 

Your home loan makes you eligible for certain tax benefits as per the prevailing laws. So, you can save more money by claiming deductions on your income tax against the principal and interest amount repaid. 

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