What it is
A home loan pays for a flat, a house or a plot plus construction, repaid over as long as 30 years. The property is the security, so rates are among the lowest you can borrow at. What decides your rate is less the headline number a lender advertises and more how your income, existing EMIs and credit history look to that particular lender.
Who it suits
- First-time buyers who want to know their real budget before visiting sites
- Families moving from a rented home to an owned one
- Owners who want to move an existing loan to a lower rate (balance transfer)
- Anyone building on a plot they already own
Which lenders fit
Typical appetite by lender type for a well-documented profile. Your own answers can change this — run a Match Check.
Strong fit
Private banks price well for strong scores and documented income, and move quickly.
Strong fit
Public sector banks often have the lowest rates, with stricter paperwork and slower turnaround.
Possible
NBFCs accept a wider range of profiles, including the self-employed, usually at a higher rate.
Strong fit
Housing finance companies specialise in property loans and are flexible about income proof.
Possible
Small finance banks lend to thinner files and smaller towns, usually at a higher rate.
Typical eligibility
Salaried
- Age 21 to 60 at the end of the loan
- At least 2 years of work, 6 months with the current employer
- Net monthly income typically ₹25,000 or more
- EMIs, including the new one, usually within 50–60 % of take-home pay
Self-employed
- Age 25 to 65 at the end of the loan
- Business or practice running for at least 3 years
- Income tax returns for the last 2–3 years
- Steady banking with a stable or rising turnover
Each lender sets its own criteria. These are common starting points, not guarantees.
Documents to keep ready
- PAN and Aadhaar
- Last 3 months' salary slips, or 2–3 years' ITR with computation for the self-employed
- Last 6 months' bank statements
- Form 16 (salaried)
- Property documents: sale agreement, title chain, approved plan
- Own contribution receipts, if any have been paid
You share documents only with your advisor or the lender, never on this website.
Indicative rates
| Lender type | Rate range | Processing fee | Max tenure | As of |
|---|---|---|---|---|
| Public sector banks sample | 8.30 – 9.40 % | Up to 0.35 % | 30 yrs | 19 Sep 2026 |
| Private banks sample | 8.40 – 9.60 % | 0.25–0.50 % | 30 yrs | 19 Sep 2026 |
| Private banks | 8.40 – 9.60 % | 0.25-0.50% | 30 yrs | 19 Sep 2026 |
| Housing finance sample | 8.60 – 10.25 % | 0.50–1.00 % | 30 yrs | 19 Sep 2026 |
| NBFCs sample | 9.00 – 11.50 % | 0.50–1.00 % | 25 yrs | 19 Sep 2026 |
| Small finance banks sample | 9.50 – 12.50 % | 1.00–1.50 % | 20 yrs | 19 Sep 2026 |
Questions
How much can I borrow?
Most lenders fund 75–90 % of the property value, depending on the loan size. The rest is your down payment. Your income sets a second limit, which is why two people buying the same flat can get different amounts.
Fixed or floating rate?
Most home loans in India are floating, linked to an external benchmark. They move when the benchmark moves. A few lenders offer fixed rates for an initial period, usually at a higher starting rate.
Can I switch lenders later?
Yes. A balance transfer moves your outstanding loan to a new lender, usually for a lower rate. Floating-rate home loans taken by individuals carry no prepayment penalty.
Does the property need to be approved by the lender?
Yes. The lender runs its own legal and technical checks on the property. Projects already approved by that lender tend to move faster.