Looking for best home loans in Delhi? Or Cheapest home loans in Delhi? This page will give you all details about home loan in Delhi-NCR. The starting home loan interest rate in Delhi is between 8.50% to 14% p.a. for loan amounts of up to 90% of property value and tenures of up to 30 years.
|Name of Lender||Up to Rs. 30 Lakh||Loan Tenure||EMI Payable|
|SBI||8.40% - 10.05%||30 Year||Rs. 22,855/-|
|HDFC||8.50% - 9.15%||30 Year||Rs. 22,749/-|
|LIC Housing Finance||8.40% - 10.50%||30 Year||Rs. 22,855/-|
|ICICI Bank||9.00% - 10.05%||30 Year||Rs. 24,139/-|
|Kotak Mahindra Bank||8.70% - 8.95%||30 Year||Rs. 23,494/-|
|Punjab National Bank||8.40% - 10.10%||30 Year||Rs. 23,067/-|
|Bank of Baroda||8.40% - 10.60%||30 Year||Rs. 22,855/-|
|Union Bank of India||8.40% - 10.80%||30 Year||Rs. 22,855/-|
|IDFC First Bank||8.75% - 8.85%||30 Year||Rs. 23,601/-|
|L&T Housing Finance||8.60% - 8.75%||30 Year||Rs. 23,280/-|
|Bajaj Housing Finance||8.50% - 14.00%||30 Year||Rs. 22,961/-|
|PNB Housing Finance||8.50% - 10.75%||30 Year||Rs. 23,067/-|
|Tata Capital||8.70% - 10.10%||30 Year||Rs. 23,494/-|
|Federal Bank||8.80% - 10.30%||30 Year||Rs. 23,708/-|
Tip: 50 Lakh Home Loan EMI Interest Rate 2023 before applying for a loan
Home Loan is a secured loan where bank keeps possession of your home papers till the repayment is done. Let’s have a glance at some features of home loan in Delhi NCR:
Additional Info: Also check How to Apply for Pradhan Mantri Awas Yojana
Home loan in Delhi and neighbouring areas like Noida, Gurugram and Faridabad start from 8.50% and can go on upto 14%
|Home Loan Parameters||Home Loan Details|
|Interest Rate||8.50% - 14.00%|
|Processing Fee||0.50% to 1.25 % of the loan amount|
|Tenure/ Repayment||1-35 years|
There are more than 30 banks and financial institutions that can give you best home loans in Delhi - NCR. Here we are mentioning some of those lenders which give lucrative deals on your home loans.
HDFC or HDFC Limited caters to home loan in Delhi 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.
HDFC Home Loan interest rate ranges from 8.50% - 9.15% p.a.
LIC Housing Finance gives 7 different types of home loans in Delhi or any other place. The starting home loan interest rate starts from 8.40% - 10.50% 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 Delhi is around 8.55% - 10.50%.
Additional Info: Check 30 Lakh Home Loan EMI and Apply Online.
PNB HFL starts giving home loans in Delhi from Rs 10 lakh onwards and takes approximately 10 days to process. The minimum home loan rate of interest in Delhi NCR is 8.50% - 10.75% for salaried and 8.90% - 11.25% for self employed professionals whose CIBIL or credit score is more than 800.
State Bank of India is one of the premier banks of India and so to get a home loan in Delhi is very easy with SBI. The cheapest SBI home loan interest rate is 8.40% - 10.05% 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 Delhi-NCR.
The final Indiabulls home loan rate of Interest depends upon Profile, Loan amount, tenor , property type and other risk parameters. The lowest home loan rate in Delhi is 8.75% for 30 yrs. This can change depending on the credit worthiness of the applicant.
There are more than 10 types of home loans offered in Delhi, Noida, Gurugram, and Faridabad also known as Delhi-NCR. 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 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 credit worthiness 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
To be eligible for home loan in Delhi there are some requirements. Let’s see what are those requirements that will allow you to have your dream home in Delhi-NCR:
Additional Info: Also check Home Loan Eligibility
Below are the list of documents needed to get a home loan in Delhi-NCR:
Additional Info: Also check Documents Required For Home Loan
Due to inflation the prices of flats are increasing day by day. In such a situation some citizens cannot afford to buy flats. To overcome this situation the Delhi Development Authority has launched a DDA Housing Scheme 2023. Under this scheme, flats are offered at low prices to all sections of society. These flats are offered on the basis of a draw. All the sections of society like general category, backward class, windows, SC, ST, etc are covered under this scheme.
The application procedure for Govt scheme:
The Delhi Development Authority has launched a special DDA Housing Scheme. Through this housing scheme, 5623 flats under different categories are offered at various locations which include Dwarka, Rohini, Jasola, Vasant Kunj, Paschim Vihar, and Narela. Through this scheme 2023, high-income group 3 BHK flats are available in Vasant Kunj, Jasola, Paschim Vihar, and Dwarka. 2 BHK flats are available in Dwarka, Narela, and Rohini.
*Data sourced from DDA official website
Additional Info: Also check Home Loan Tax Benefit
Lowest home loan interest rate in Delhi is 8.50% With the recent rate hike trend it is assumed that the search for cheapest home loans in Delhi NCR might take a while. Till then you can have a look at these banks / NBFCs and the home loan interest rates that they offer
|Banks/NBFCs||Home Loan Interest Rate|
|HDFC||8.50% - 9.15%|
|LIC HFL||8.40% - 10.50%|
|SBI||8.40% - 10.05%|
|ICICI||9.00% - 10.05%|
|Kotak Bank||8.70% - 8.95%|
No, you won’t get a home loan without proper approval of your building/house plan.
Home loan can be needed for multiple scenarios like loan against property in delhi, loan against power of attorney property in delhi, and many more. So, there is no particular best home loan for all but it will depend on the exact requirement of the customer to decide which type of home loan can best cater to their requirements.
It takes anything between 7 to 21 days in order to get a home loan in Delhi.
The lowest home loan interest rate in Delhi is 8.50% p.a.
To get a home loan in Delhi it is very important to first check the EMI that you can pay for your loan amount. Home loan EMI calculator calculates your EMI instantly on the basis of your prospective loan amount, interest rate and loan tenure. The online home loan EMI calculator also displays total interest payable, total principal payable and amortization schedule to help you understand and plan your home loan repayment better after considering your repayment capacity.
If your monthly salary is more than Rs 25000 then you can get a home loan in Delhi.
Yes, you can get a home loan in every state in India.
Why only Delhi, you can apply for a home loan from anywhere in India using our website MyMoneyMantra.com or you can directly visit the link https://www.mymoneymantra.com/home-loans and fill the form with your exact requirements.
All banks take almost similar time in disbursing your home loan amount. It takes from 7 to 21 days to get you home loan amount.