Home Loan in Ahmedabad
Finding home loans in Gujarat or cities like Ahmedabad and Surat is easy as all kinds of mortgage home loans are offered by various banks and financial institutions like HDFC, SBI, PNB housing finance, IIFL, Aadhar housing finance, The home loan interest rate starts from 7.90% - 9.00% whereas the processing fees are nominal starting from Upto 0.50% of the loan amount or ₹ 3300 + GST.
Home Loan Interest Rate All Banks in Gujarat
When you are looking to get details about home loans in Gujarat, the first thing to do is to compare various banks which they are offering lowest interest rate for home loan in Gujarat.
Let’s have a look below to know the same:
| Name of Lender | Up to Rs. 30 Lakh | Processing Fee |
|---|---|---|
| SBI | 7.50% - 8.45% | 0.35% |
| HDFC | 7.90% - 9.00% | Upto 0.50% of the loan amount or ₹ 3300 of the loan amount. |
| LIC Housing Finance | 7.50% | 0.50% of the loan amount. |
| ICICI Bank | 7.70% | 0.50% - 2.00% of loan amount |
| Kotak Mahindra Bank | 7.99% | {{KOTAK_HL_PROCESSING_FEE}} of loan amount |
| PNB Housing Bank | 8.25% | 1.00% of the loan amount. Minimum processing fee is Rs 10000. |
| Bank of Baroda | 7.45% | 100% waiver, subject to recovery of out of pocket expenses of Rs. 7,500 + GST (Per Property) for lead sourced through Digital Channel & Rs. 8,500 + GST (Per Property) for lead sourced through Non-Digital Channel |
| IDFC First Bank | 8.85% | {{IDFC_HL_PROCESSING_FEE}} of Loan Amount. |
| L&T Housing Finance | 8.10% | {{LANDT_HL_PROCESSING_FEE}} (Rs 5000 fixed as login fee). |
| Bajaj Housing Finance | 7.45% - 18.00% | {{BAJAJ_HL_PROCESSING_FEE}} of the loan amount + GST and other applicable statutory levies. |
| Tata Capital | {{TATACAPITAL_HL_INTEREST_RATE}} | {{TATA_CAPITAL_HL_PROCESSING_FEE}} of the loan amount + GST. |
| Federal Bank | 8.75% | 0.50% of the limit sanctioned with a min of Rs.10000/- and maximum of Rs.45000/-. |
Additional Info: Best Home Loan Interest Rates @7.35%
Home Loan Interest Rate in Ahmedabad
Home loan in Ahmedabad and neighboring areas start from @7.35%
| Home Loan Parameters | Home Loan Details |
|---|---|
| Interest Rate | 7.90% - 9.00% |
| Processing Fee | Upto 0.50% of the loan amount or ₹ 3300 of the loan amount |
| Tenure/ Repayment | 1-30 years |
Top Housing Finance Companies in Ahmedabad
There are more than 30 banks and financial institutions that can give you the best home loans in Ahmedabad.
Here we are mentioning some of those lenders which give lucrative deals on your home loans:
PNB Housing Finance Limited Home Loan in Ahmedabad
PNB HFL starts giving home loans in Ahmedabad from Rs 8 lakh onwards and takes approximately 10 days to process. The minimum home loan rate of interest in Ahmedabad is 8.25% for salaried and 8.60% for self-employed professionals whose CIBIL or credit score is more than 800.
HDFC Home Loan Ahmedabad
HDFC or HDFC Limited caters to home loan in Ahmedabad under different loan slabs based on the requirement amount of home loan. There are different home loan interest rates for women that can benefit you greatly if one co-applicant of your home loan is a woman.
| Loan Slab | Home Loan Interest Rates (in % p.a.) |
|---|---|
| For Women* (upto 30 Lakhs) | 8.60 - 9.10 |
| For Others* (upto 30 Lakhs) | 8.65 - 9.15 |
| For Women* (30.01 Lakhs to 75 Lakhs) | 8.85 - 9.35 |
| For Others* (30.01 Lakhs to 75 Lakhs) | 8.90 - 9.40 |
| For Women* (75.01 Lakhs & Above) | 8.95 - 9.45 |
| For Others*(75.01 Lakhs & Above) | 9.00 - 9.50 |
Aavas Finance Ahmedabad
They offer 5 home loan products in Ahmedabad. You can get home loan, loan against property, land purchase and home construction loans, home loans balance transfer from Aavas housing in Ahmedabad. The interest rate for home loan starts from 8.50% p.a. with a processing fees of upto 2% plus GST. The maximum tenure can be no more than 30 years.
LIC Housing Finance Ahmedabad
LIC Housing Finance gives 7 different types of home loans in Ahmedabad or any other place. The starting home loan interest rate starts from 7.90% - 9.00% for people having a CIBIL score more than 800 and are salaried. For people whose CIBIL score is less than 600 and are self-employed, for them the home loan interest rate in Ahmedabad is around 7.50%.
Bajaj Housing Finance Ahmedabad
Bajaj Housing Finance offers attractive Home Loan interest rates starting at 7.45% - 18.00%* for salaried and professional individuals. Borrowers also have the advantage of availing of a sizable sanction with minimal documentation and quick processing and approval.
Aadhar Housing Finance Ahmedabad
With 13 types of home related loans Aadhar Housing Finance home loan interest rate is one of the good options.
| Customer Type | Home Loan Interest Rate* |
|---|---|
| Salaried - Home Loan | 11.75% - 17.00% |
| Self-Employed - Home Loan | 12.75% to 17.00% |
| Loan against Property | 15.00% to 17.00% |
Aditya Birla Housing Finance
Getting a home loan in Ahmedabad is easy with Aditya Birla Housing Finance home loans. Below is the home loan interest rate based on salary.
| Home Loans | Salaried | Self Employed |
|---|---|---|
| Rate of Interest | 8.60% | 9.25% to 13.50% |
Shriram Housing Finance Ahmedabad
This financial institution offers home loans, loan against property, and project finance services, as well as provides a range of financial assistance to prospective homeowners. SHFL serves customers in India. The home loan interest rate starts from 9.5% and you can get almost 90% of your property cost as loan.
IIFL Home Loan Ahmedabad
IIFL Home Loans progressively works towards facilitating affordable home loans to first time homebuyers of the country. Through a wide network of branches, backed by a digital infrastructure and social development intent, the Company caters to the evolving home finance needs of marginalized sections across the length and breadth of the nation.
The IIFL home loan interest rate in Ahmedabad starts from 8.75% p.a.
Indiabulls Housing Finance Ahmedabad
Indiabulls Home Loans offers customers competitive interest rates that will make it easier to own a home of choice. The home loan interest rate at Indiabulls Housing Finance in Ahmedabad start from 8.75% p.a.
SBI Home Loan Ahmedabad
State Bank of India is one of the premier banks of India and so to get a home loan in Ahmedabad is very easy with SBI. The cheapest SBI home loan interest rate is 7.50% - 8.45% and the maximum tenure for which home loan can be availed is 30 yrs. The loan disbursement process can take upto 3 weeks in SBI home loan Ahmedabad.
Repco Home Finance Home Loan in Ahmedabad
The rate of interest starts from 8.10% p.a. for home loans. There are 2-3 types of mortgage loan schemes at Repco Home Finance in Ahmedabad.
Housing Loan in Ahmedabad for Salaried and Professional Individuals
| Loan Type | Effective ROI (p.a.) |
|---|---|
| Home Loan | 7.90% - 9.00% |
| Home Loan (Balance Transfer) | 8.30%* to 14.00%* |
| Top Up | 9.20%* to 15.00%* |
Interest Rate For Salaried Individuals in Ahmedabad
| Type | Repo Rate + Spread | Effective Rate of Interest |
|---|---|---|
| Floating Rate | Repo Rate + 2.70% to Repo Rate + 3.05% | 8.60% - 8.95% p.a. |
| Fixed Rate | All Loan Amounts | 14% p.a. |
Home Loan Interest Rate For Self Employed Individuals in Ahmedabad
| Loan Type | Effective ROI (p.a.) |
|---|---|
| Home Loan | 8.55%* to 14.00%* |
| Home Loan (Balance Transfer) | 8.90%* to 14.00%* |
| Top Up | 9.40%* to 15.00%* |
Interest Rate For Self-Employed Individuals in Ahmedabad
| Type | Repo Rate + Spread | Effective Rate of Interest |
|---|---|---|
| Floating Rate | Repo Rate + 2.80% to Repo Rate + 3.15% | 8.70% - 9.05% p.a. |
| Fixed Rate | All Loan Amounts | 14% p.a. |
Additional Info: Also check Home Loan for Salaried Employees
Types of Home loans offered in Ahmedabad
There are more than 10 types of home loans offered in Ahmedabad. Have a look below to understand what different types of home loans you can take from banks and other financial institutions(FIs) or NBFCs(non-banking financial institutions):
| Types of Home Loan | Purpose of Home Loan |
|---|---|
| Home Loan | This type of loan is taken to purchase residential property like flats and apartments. |
| Loan against Property | Get a loan by pledging your property to the bank. |
| Home improvement Loan | This loan is taken for house renovation related activities like painting, wiring revamp etc. |
| Home Extension Loan | This type of loan is taken to extend an already existing loan. For example to build a floor, room and balcony. |
| Land purchase Loan | This type of loan is taken to purchase a land. The construction of property should be completed within a fixed timeline. |
| House construction Loan | This type of loan is taken to construct a house. |
| Home Loan Balance Transfer | Home loan balance transfer is used to transfer the existing home loan to a lower interest rate reducing the overall outgo in process. |
| Pre-approved Home Loan | This type of pre-approved home loan is given by banks and lending institutions to their existing customers on the basis of their creditworthiness and income. |
| Home Loan Top-ups | This is given as an extra loan on your existing home loan. |
| Home loans for NRI | This type of home loan is suitable for people who live outside India but are willing to construct a house in India. |
| Home Loan Overdraft | Home loan overdraft allows borrowers to get more loan amount linked to their savings and current account. |
Also Read - LRD Loans
Mortgage Loans in Ahmedabad
Mortgage loans in Ahmedabad is another term for home loans in Ahmedabad. So, if you are in need of any type of mortgage loan ie. home loan in Ahmedabad then you are reading just the article where you will get all the information correctly.
Also Check: SBI Plot Loan
Mortgage Loan Interest Rates in Ahmedabad
| Name of Lender | Interest rates |
|---|---|
| LIC Housing Finance | 7.50% |
| HDFC | 7.90% - 9.00% |
| Tata Capital Housing Finance | 7.75% |
| Bajaj Housing Finance | 7.45% - 18.00% |
| PNB Housing Finance | 8.25% |
| Aditya Birla Capital | 8.60% |
| ICICI Home Finance | 7.70% |
| Home First Finance | 8.00% |
Additional Info: Also check SBI Home Loan EMI Calculator
Features and Benefits of Home Loan in Ahmedabad
Home Loan is a secured loan where the bank keeps possession of your home papers till the repayment is done. Let’s have a glance at some features of home loan in Ahmedabad:
- Home loans in Ahmedabad are usually offered at a minimum interest rate of 7.35% p.a.
- Tenures may be up to 30 years.
- LTV ratio: 80%-90% of the cost of property.
- Facilities like home loan top-ups, overdraft and home loan balance transfer to existing home loan borrowers are easily available.
- Selected existing bank customers are offered pre-approved instant home loans.
- No prepayment charges.
- Pradhan Mantri Awas Yojna for economically weaker sections, middle income groups and low income groups with interest subsidy of up to Rs 2.76 lakh
Additional Info: Check 30 Lakh Home Loan EMI Apply Online.
Eligibility Criteria of Home Loans in Ahmedabad
To be eligible for home loan in Ahmedabad there are some requirements. Let’s see what are those requirements that will allow you to have your dream home in Ahmedabad:
- Applicant’s nationality: Indian Resident, PIO, NRI
- Age- 21 years up to 70 years at the time of loan maturity
- Work experience: At least 3 years for salaried and self-employed
- Applicant’s job profile: Salaried (government and corporate professionals)/Self-Employed Non-Professionals (contractor, trader, commission agent)/Self-Employed Professionals (Doctors, CS, lawyers, CA, architect, consultant, engineer
- CIBIL/Credit score should be 750 and above for increased chances of availing home loan and at lower interest rates
Additional Info: Also check Home Loan Eligibility
Documents Required for Home Loan in Ahmedabad
Below are the list of documents needed to get a home loan in Ahmedabad:
Home loan Documents For Salaried Loan Applicants
- Proof of Identity: PAN Card/Driving License/ Voter ID/Passport/Aadhar Card.
- Proof of address: Passport/Utility bill/Aadhar card
- Proof of Income: Latest salary slip/ ITR/Form-16
- Bank Statement: Last 3 months bank statement/ last 6 months bank passbook.
- Property Documents: Agreement sale copy, Certificate of possession, Land tax receipt, the detailed cost of construction, Letter of allotment, Original NOC.
Additional Home Loan Documents for Self-Employed Applicants
- Business profile
- Recent Form 26AS
- Income Proof: ITR with income computation for past 3 years
- Memorandum and Articles of Association of the company
- Balance sheet and profit & loss account statement for last 3 years
- Current account statement of business entity
- Savings account statement of individual for past 6 months
Additional Info: Also check Documents Required For Home Loan
Home Loan in Ahmedabad FAQs
The lowest home loan interest rate in Ahmedabad is 7.35% p.a.. Currently it is offered by HDFC.
If your monthly salary is more than Rs 25000 then you can get a home loan in Ahmedabad.
All banks take almost similar time in disbursing your home loan amount. It takes from 7 to 21 days to get your home loan amount.
No, You can never get 100% home loan on your dream home. At least you have to pay around 20-30% as down payment at the time of booking on the home.
If you are self-employed then yes your income tax returns will be needed to avail a home loan.
Any bank or financial institution that gives a special home loan interest rate to government employees is best for govt employees.
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