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Which Banks Are Best for Home Loans in Delhi?

Updated on: 14 Dec 2021 // 23 min read // Home Loans
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Delhi is a sprawling metropolitan city having the distinction of being the most populous city in India. The GDP of Delhi is second only to that of Mumbai. Hence, Delhi has a vibrant financial market. Delhi has a tremendous middle-class population thereby providing ample opportunities to the banks and NBFCs (Non-Banking Financial Companies) for marketing their Home Loan products.

Almost all the reputed banks and NBFCs in India have their branches in Delhi. Delhi has a huge market for Home Loans. Therefore, you see all these banks and NBFCs offering their best Home Loan offers for their customers in Delhi.

The General Eligibility Criteria

You are eligible to Apply for Home Loan in Delhi if:

  • You are in the age group of 21 years to 65 years
  • You are a salaried person or a self-employed individual having a regular source of income

Best Home Loan Offer Online

Factors Affecting Your HomeLoan Eligibility:

  • Loans in the range of 75% to 90% of the value of the property
  • EMI (Equated Monthly Instalment) limited to 50% of monthly income
  • The property should not be situated in the Lal Doraor any unauthorised land

Let us look at some of the best banks that provide Home Loans in Delhi:

Name of BankSBI Home Loan
Maximum Amount of Home LoanNo maximum limit
Rate of Interest8.45%
Maximum Loan Tenure30 years
EMI Per Lakh765
Processing Fees0.35% of Home Loan amount

Minimum 2,000 and maximum
10000

Overview of the Home Loan Product· Product to suit the needs of every customer

· Lowest interest rates in the market

· Low processing fees

· No hidden charges

· Extensive network of branches in Delhi and NCR

Name of BankHDFC Bank Home Loan
Maximum Amount of Home LoanNo maximum limit
Rate of Interest8.50%
Maximum Loan Tenure30 years
EMI Per Lakh769
Processing Fees0.50% of the loan amount
Overview of the Home Loan Product· Customised options to suit the needs of the individual

· Special arrangement with AGIF for approving additional loans to Armed Forces personnel

· No hidden charges

· Variety of Home Loan products

Name of BankICICI Bank Home Loan
Maximum Amount of Home LoanNo upper limit as it is a need-based finance
Rate of Interest8.55%
Maximum Loan Tenure30 years
EMI Per Lakh772
Processing Fees0.50% of the loan amount
Overview of the Home Loan Product· Quick processing

· Higher eligibility

· Application processed through a smartphone

· Pre-approved loan facility

Name of BankAxis Bank Home Loan
Maximum Amount of Home LoanNo limit on the maximum loan
Rate of Interest8.50%
Maximum Loan Tenure30 years
EMI Per Lakh769
Processing FeesRegular processing fees – 1% of the loan amount
Overview of the Home Loan Product· Doorstep service facility

· No upper ceiling on loan limit

· Floating and fixed rates available

· Quick and transparent processing

· Waiver of last 12 months EMI subject to conditions

Name of BankPNB Housing Finance
Maximum Amount of Home LoanNeed-based finance, hence no maximum ceiling on home loan
Rate of Interest8.40%
Maximum Loan Tenure30 years
EMI Per Lakh762
Processing Fees0.50% of the loan amount

Maximum 20,000 for loans up to
3Crores

Overview of the Home Loan Product· Wide network of branches in the NCR

· Excellent post-disbursement services

· Facility to enhance loan limit in case of escalation of costs

· Pradhan MantriAawasYojana

Name of BankBank of Baroda Home Loan
Maximum Amount of Home LoanNo maximum ceiling on home loan
Rate of Interest8.50%
Maximum Loan Tenure30 years
EMI Per Lakh769
Processing FeesMinimum 7,500 and Maximum
12,500
Overview of the Home Loan Product· Different variants of home loans available

· Facility to apply online

· Free credit cards to all Bank of Baroda home loan borrowers

· Concession of 0.25% in the rate of interest on car loans

· Free accident insurance

Name of BankCitibank Home Loan
Maximum Amount of Home LoanUp to 10Crores
Rate of Interest8.50%
Maximum Loan Tenure25 years
EMI Per Lakh805
Processing Fees5,000 plus 0.40% of the loan amount
Overview of the Home Loan Product· Attractive rates of interest

· Easy processing and approvals

· Flexibility in repayment

· Facility to pay interest amount alone during the construction period

We have thus seen seven of the top Home Loan lending banks. Each of these banks has its exciting features. Our experts at MyMoneyMantra can help you find the best deal for you.

Also Read: Is it Possible to Add a Co-applicant for My Home Loan Who Isn’t a Co-owner in the property?

To apply online for Credit Cards, Secured Loans and Unsecured Loans, visit www.mymoneymantra.com, the leading online lending marketplace that offers financial products from 70+ Banks and NBFCs. We have served 2 million+ happy customers since 1989.

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