Home Loans in Delhi - NCR

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.


Compare Home Loan Interest Rate by Various Banks & HFCs in Delhi-2024

Name of LenderUp to Rs. 30 LakhLoan TenureEMI Payable
SBI8.50% - 10.05%30 YearRs. 22,855/-
HDFC8.75% - 9.65%30 YearRs. 22,749/-
LIC Housing Finance8.50%30 YearRs. 22,855/-
ICICI Bank8.75%30 YearRs. 24,139/-
Kotak Mahindra Bank8.70%30 YearRs. 23,494/-
Punjab National Bank8.40% - 10.25%30 YearRs. 23,067/-
Bank of Baroda8.40% - 10.60%30 YearRs. 22,855/-
Union Bank of India8.35%30 YearRs. 22,855/-
IDFC First Bank8.75%30 YearRs. 23,601/-
L&T Housing Finance8.65%30 YearRs. 23,280/-
Bajaj Housing Finance8.50% - 15.00%30 YearRs. 22,961/-
PNB Housing Finance8.50%30 YearRs. 23,067/-
Tata Capital8.70%30 YearRs. 23,494/-
Federal Bank8.80%30 YearRs. 23,708/-

Tip: 50 Lakh Home Loan EMI Interest Rate 2024 before applying for a loan

Features and Benefits of Home Loan in Delhi

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:

  • Home loans in Delhi are usually offered at minimum interest rate of 8.50% p.a.
  • Tenures may be up to 30 years.
  • LTV ratio: 80% - 90% of the cost of property.
  • Facilities like 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 loan.
  • No pre-payment 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: Also check How to Apply for Pradhan Mantri Awas Yojana

Home Loan Interest Rate in Delhi - NCR

Home loan in Delhi and neighbouring areas like Noida, Gurugram and Faridabad start from 8.50% and can go on upto 14%

Home Loan ParametersHome Loan Details
Interest Rate8.50% - 14.00%
Processing Fee0.50% to 1.25 % of the loan amount
Tenure/ Repayment1-35 years

Check Best Home Loan Interest Rates starting @8.50% from different banks and NBFCs

Top Home Loan Providers in Delhi

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 Home Loans in Delhi - NCR

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 8.75% - 9.65% p.a.

LIC Housing Finance Limited Home Loan in Delhi - NCR

LIC Housing Finance gives 7 different types of home loans in Delhi or any other place. The starting home loan interest rate starts from 8.50% 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 Housing Finance Limited Home Loan in Delhi - NCR

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% for salaried and 8.90% - 11.25% for self employed professionals whose CIBIL or credit score is more than 800.

SBI Home Loan in Delhi - NCR

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 8.50% - 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.

Indiabulls Home Loan in 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 9.30% for 30 yrs. This can change depending on the credit worthiness of the applicant.

Types of Home loans offered in Delhi - NCR

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 LoanPurpose of Home Loan
Home LoanThis type of loan is taken to purchase residential property like flats and apartments.
Loan against PropertyGet loan by pledging your property to the bank.
Home improvement LoanThis loan is taken for house renovation related activities like painting, wiring revamp etc.
Home Extension LoanThis type of loan is taken to extend an already existing loan. For example to build a floor, room and balcony.
Land purchase LoanThis type of loan is taken to purchase a land. The construction of property should be completed within a fixed timeline.
House construction LoanThis type of loan is taken to construct a house.
Home Loan Balance TransferHome 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 LoanThis 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-upsThis is given as an extra loan on your existing home loan.
Home loans for NRIThis type of home loan is suitable for people who live outside India but are willing to construct a house in India.
Home Loan OverdraftHome loan overdraft allows borrowers to get more loan amount linked to their savings and current account.

Eligibility Criteria of Home Loans in Delhi

To be eligible for a 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:

  • 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

Documents Required for Home Loan in Delhi-NCR

Below are the list of documents needed to get a home loan in Delhi-NCR:

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

Govt DDA Housing Scheme in Delhi- 2024

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 2024. 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.

How to Book Flat Online Under DDA Housing Scheme 2024

The application procedure for Govt scheme:

  • Click here to see the official page. http://www.eservices.dda.org.in or http://www.dda.gov.in
  • Select “Login for Applicant” on the homepage.
  • A login form will appear.
  • If you are already a member of the Awas Yojana or the Bhoomi Yojana, you may log in by one of two methods. Use the related user ID and password after choosing any one of them. then click the login button.
  • After checking in, choose the link for first come, first served apartments.
  • Pick the apartment
  • It will be blocked for 30 minutes, during which time online payments may be made.
  • If payment is not made by the deadline, the apartment will be put up for auction.
  • Interested parties may submit an online application and the required down payment for the apartment.
  • Following that, the DDA will send the petitioner a demand notice. The allottee will have three months to pay the whole payment under this.
  • DDA will issue a possession letter upon complete payment.

5623 Flats Available Under DDA Housing Scheme 2024

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 2024, 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

FAQs for Home Loan in Delhi

✅ Which bank is the best for home loan in India?


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/NBFCsHome Loan Interest Rate
HDFC8.75% - 9.65%
LIC HFL8.50%
SBI8.50% - 10.05%
Kotak Bank8.70%

✅ Can I get Home Loan without Plan Approval?


No, you won’t get a home loan without proper approval of your building/house plan.

✅ Which Type of Home Loan is Best in India?


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.

✅ How long does it Take to Get a Home Loan in Delhi?


It takes anything between 7 to 21 days in order to get a home loan in Delhi.

✅ What is the Lowest Interest Rate on a Home Loan in Delhi?


The lowest home loan interest rate in Delhi is 8.50% p.a.

✅ How is EMI calculated for a home loan in Delhi?


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.

✅ What is the Minimum Income requirement to get a Home Loan in Delhi?


If your monthly salary is more than Rs 25000 then you can get a home loan in Delhi.

✅ Can I get a Home Loan in Another State in India?


Yes, you can get a home loan in every state in India.

✅ How to get Home Loan in Delhi NCR?


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.

✅ Which Bank gives fastest Home Loan?


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.