Best home loans in Hyderabad are offered by various banks and financial institutions like HDFC, SBI, PNB housing finance, IIFL, Aadhar housing finance, and Indiabulls housing finance. The home loan interest rate starts from 8% whereas the processing fees are nominal starting from 0.25% + GST.
When you are looking to get a home loan in Hyderabad, the first thing to do is to compare various banks and the rates at which they are offering home loan interest rates.
Let’s have a look below to know the same:
Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
---|---|---|---|
SBI | 8.75% - 9.50% | 8.75% - 9.40% | 8.75% - 9.40% |
HDFC | 8.65% - 9.35% | 8.65% - 9.35% | 8.65% - 9.35% |
LIC Housing Finance | 8.30% - 10.00% | 8.00% - 10.20% | 8.00% - 10.40%% |
ICICI Bank | 8.75% - 9.85% | 8.75% - 9.85% | 8.75% - 9.85% |
Kotak Mahindra Bank | 8.65% - 9.45% | 8.65% onwards | 8.65% onwards |
Punjab National Bank | 8.60% - 9.35% | 8.55% - 9.25% | 8.55% - 9.25% |
Bank of Baroda | 8.60% - 10.35% | 8.60% - 10.70% | 8.45% - 10.70% |
Union Bank of India | 8.60% -10.50% | 8.60% -10.70% | 8.60% -10.70% |
IDFC First Bank | 8.75% – 8.90% | 8.75% onwards | 8.75% onwards |
L&T Housing Finance | 8.40% - 8.60% | 8.40% - 8.60% | 8.40% - 8.60% |
Bajaj Housing Finance | 8.30% onwards | 8.30% onwards | 8.30% onwards |
Godrej Housing Finance | 8.39% -10.99% | 8.39% -10.99% | 8.39% -10.99% |
Tata Capital | 8.60% onwards | 8.60% onwards | 8.60% onwards |
Federal Bank | 8.37% – 9.60% | 8.37% – 9.65% | 8.37% - 9.70% |
Additional Info: Best Home Loan Interest Rates @8%
Home loan in Hyderabad and neighbouring areas start from 7.90% and can go on upto 14%
Home Loan Parameters | Home Loan Details |
---|---|
Interest Rate | 8.30% - 14.00% |
Processing Fee | 0% to 1.25 % of the loan amount |
Tenure/ Repayment | 1-30 years |
Tip: 50 Lakh Home Loan EMI Interest Rate 2022 before applying for a loan
There are more than 30 banks and financial institutions that can give you the best home loans in Hyderabad. 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 Hyderabad under different loan slabs based on the required 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 |
LIC Housing Finance gives 7 different types of home loans in Hyderabad 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 Hyderabad is around 9.40%.
PNB HFL starts giving home loans in Hyderabad from Rs 8 lakh onwards and takes approximately 10 days to process. The minimum home loan rate of interest in Hyderabad is 8.50% for salaried and 8.60% for self-employed professionals whose CIBIL or credit score is more than 800.
Bajaj Housing Finance offers attractive Home Loan interest rates starting at 8.30%* for salaried and professional individuals. Borrowers also have the advantage of availing of a sizable sanction with minimal documentation and quick processing and approval.
State Bank of India is one of the premier banks of India and so to get a home loan in Hyderabad is very easy with SBI. The cheapest SBI home loan interest rate is 8.55% 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 Hyderabad.
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 Hyderabad start from 8.95% p.a.
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% to 16.50% |
Self-Employed - Home Loan | 12.75% to 17.00% |
Loan against Property | 15.00% to 17.00% |
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 Hyderabad starts from 8.20% p.a.
Getting a home loan in Hyderabad 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 | 8.50% to 13.00% | 9.25% to 13.50% |
With 6 types of home loans schemes, the home loan interest rate at Sundaram home finance in Hyderabad starts from 8.65% p.a.
Details | Interest Rate/ Fees |
---|---|
For general customer | 8.65% |
For women customers | 8.65% |
Processing Fee | Maximum upto 0.50% + GST |
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 Hyderabad is 8.70% for 30 yrs. This can change depending on the credit worthiness of the applicant.
Axis bank home loan in Hyderabad is one of the most searched options to get a home loan. The home loan interest rate varies depending upon the applicant profile, salary and credit score.
Additional Info: Also Check Best Banks for Home Loan in India in 2022
Loan Type | Effective ROI (p.a.) |
---|---|
Home Loan | 8.30%* to 14.00%* |
Home Loan (Balance Transfer) | 8.30%* to 14.00%* |
Top Up | 9.20%* to 15.00%* |
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. |
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%* |
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
There are more than 10 types of home loans offered in Hyderabad. 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 Hyderabad is another term for home loans in Hyderabad. So, if you are in need of any type of mortgage loan ie. home loan in Hyderabad then you are reading just the article where you will get all the information correctly.
Additional Info: Also check Home Loans in Bangalore
Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh & Up to Rs. 75 Lakh | Above Rs. 75 Lakh |
---|---|---|---|
LIC Housing Finance | 8.00% – 10.00% | 8.00% – 10.20% | 8.00% – 10.40% |
HDFC Ltd. | 8.40% – 10.00% | 8.40% – 10.25% | 8.40% – 10.35% |
Tata Capital Housing Finance | 8.60% onwards | 8.60% onwards | 8.60% onwards |
Bajaj Housing Finance | 8.30% onwards | 8.30% onwards | 8.30% onwards |
PNB Housing Finance | 8.50% – 12.50% | 8.50% – 12.50% | 8.60% – 11.70% |
Repco Home Finance | 8.10% onwards | 8.10% onwards | 8.10% onwards |
GIC Housing Finance | 8.10% onwards | 8.10% onwards | 8.10% onwards |
Indiabulls Housing Finance | 8.70% onwards | 8.70% onwards | 8.70% onwards |
Aditya Birla Capital | 8.50% – 13.50% | 8.50% – 13.50% | 8.50% – 13.50% |
ICICI Home Finance | 9.20% onwards | 9.20% onwards | 9.20% onwards |
Home First Finance | 8.00% – 18.00% | 8.00% – 18.00% | 8.00% – 18.00% |
Godrej Housing Finance | 7.99% – 10.99% | 7.99% – 10.99% | 7.99% – 10.99% |
L&T Housing Finance | 7.70% – 8.70% | 7.70% – 8.70% | 7.70% – 8.70% |
Additional Info: Also check SBI Home Loan EMI Calculator
Plot loans in Hyderabad can be availed upto a maximum amount of Rs 1 Cr. The rate of interest rate for plot loans in Hyderabad starts from 8.60% to a maximum of 9.50%.
Also Check: SBI Plot Loan
If your CIBIL score or credit score is not upto the mark then you need not worry. You can get a home loan for CIBIL defaulters in Hyderabad from noteworthy housing finance companies .
Additional Info: Also check CIBIL Score for Home Loan
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 Hyderabad:
Additional Info: Also check How to Apply for Pradhan Mantri Awas Yojana
Additional Info: Also check Home Loan Eligibility
Below are the list of documents needed to get a home loan in Hyderabad:
Additional Info: Also check Documents Required For Home Loan
Why only Hyderabad, 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.
Normally to buy a new home, a down payment of 10% of the total cost of the property is required. But it is always advisable to go for a minimum home loan amount by paying around 20% to 30% as down payment to the builder.
It takes anything between 7 to 21 days in order to get a home loan in Hyderabad.
If your monthly salary is more than Rs 25000 then you can get a home loan in Hyderabad.
To be eligible for home loan in Hyderabad there are some requirements. Let’s see what are those requirements that will allow you to have your dream home in Hyderabad:
Lowest home loan interest rate in Hyderabad is 7.80%. With the recent rate hike trend it is assumed that the search for cheapest home loans in Hyderabad 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 | 8.60% onwards |
LIC HFL | 8.50% onwards |
SBI | 8.55% onwards |
ICICI | 8.60% onwards |
Kotak Bank | 8.50% onwards |
Home loan can be needed for multiple scenarios like loan against property in Hyderabad, loan against power of attorney property in Hyderabad, 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.
The lowest home loan interest rate in Hyderabad is 8.55% p.a.. Currently it is offered by SBI.
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.
Plot loans are available for only a residential plot unlike home loans which are available on all properties. The maximum Loan to Value (LTV) when it comes to plot loans is stipulated at 70%. For home loans, the LTV can go up to 90% in some cases.
Yes, you can prepay your home loan easily by paying a nominal fee as prescribed by the respective bank in case any.
It must be made clear that even Home Loans are a type of mortgage loan; wherein the property you seek a loan is considered a collateral for the sanction.
Yes, they can be increased if there is any room for doing so. Home loans have a long tenure of 15 years and above. During it you will encounter many interest-rate cycles. “Borrowers can either opt for the tenure increase option or the EMI increase option with the consent of the lender. Opting for tenure increase will result in higher interest cost than the EMI increase option
If you are self-employed then yes your income tax returns will be needed to avail a home loan.
You can now apply for Top-Up on your existing Home Loan and use the funds to fulfill a host of requirements such as home renovation, marriage expenses, business expansion, funding of your child’s higher education or any other personal need with a combination of overdraft facilities.
What’s more, if you have an existing Home Loan with ICICI bank then applying for a Top-Up loan gets simpler, hassle- free and with minimal documentation.