Housing Finance Companies in India
Today, the demand for housing finance is increase day by day. Every individual has a dream of owning a house of their own. As to become successful and to earn more money more and more people migrate across big cities for work and among those people, many choose to stay there only and often purchase a house there. It is true that according to the today’s criteria the cost of purchasing a house is high and unaffordable for the common man.
Housing is a very basic human need and everyone wants to purchase their own dream house. There are many ways through which one can able to purchase the dream house. Taking help from Housing finance companies is one of the most popular options. With the development of housing sectors, the number of people taking a home loan is increasing.
Every year many builders invest in properties or in spaces to construct apartment buildings so that everyone can purchase a house at a limited budget. Similar to property builders, real estate is also serving nicely which helps to provide strong returns in the future.
After knowing the benefits, most of the people are now taking the option of taking home loans in order to purchase their own dream house or apartment. In a previous time, there were only few housing finance companies that provided the home loan in the market, but now there are so many companies who offer the best home loan services at competitive and affordable rates of interest.
So if you are planning to take a home loan at an affordable range here are some housing finance companies which you can consider for your options.
State Bank of India (SBI)
State Bank of India (SBI) is one of India’s largest housing finance companies which have a complete trust of customers from last several years. This is the company that deals with every individual as well as with the corporate people. The State Bank of India has 17,000 branches and named as the “Most Preferred Home Loan Providers”. This bank offers home loan at an affordable rate of interest, provides maximum convenience to the customers, and builds a strong customer relationship.
The home loans that SBI offered include SBI Yuva Home Loan, SBI Her Ghar Home Loan, SBI MaxGain Home Loan, SBI PAL, SBI NRI Home Loan, SBI Realty and more.
The interest rate for SBI Home Loans are-
For general customers- 8.65% to 8.70%
Women- 8.60% to 8.65%
SBI Hamara Ghar- 8.50% to 8.55%
SBI Flexipay- 8.60% to 8.70%
Housing Development Finance Corporation (HDFC)
Housing Development Finance Corporation is another leading housing finance company. This housing finance company offers many benefits to the customers. The benefits are- Competitive interest rates, no hidden charges, flexible loan terms, and hassle-free loan processing. This is the company that provides home loans not for the purchase of a new home, but also for the construction of a new home or property, and to purchase an existing house.
The home loans provided by HDFC are- HDFC Rural Housing Finance, HDFC Special Home Loan for Agriculturists, HDFC Home Loan Transfer, HDFC Pre-approved Home Loan Scheme, and HDFC NRI Home Loan. Interest rates for HDFC Home Loans are-
Women Borrowers- 9.4% to 9.9%
General Borrowers- 9.45% to 9.55 %
ICICI Housing Loan/ Finance
When it comes to home loans, ICICI (Industrial Credit and Investment Corporation of India) is one of the best home loan providers in the private sector. The bank offers many benefits to the customer like affordable interest rates, low loan processing fees, flexible loan tenure, zero-pre closure charges, balance transfer option, and added tools like EMI Calculator that help customers to find out the preferred loan and Eligibility calculator that helps to find out your eligibility of taking loan and more.
The time period for home loans ranges from 3 years to 30 years. The interest rates are- 8.40% to 8.85% for general borrowers and 8.35% to 8.80% for women borrowers.
LIC Housing Finance Limited
LIC HFL Housing Finance Limited is one of the leading home loan providers in India. This company is connected with the 181 marketing branches and provides home loans including non-resident, resident Indians and pensioners. They offer home loans not for just a purchase of a new home but for an existing house, and for construction of a new house or apartment also.
The benefits that they provide are- No partial pre-payment charges, zero processing fee, affordable interest rates, flexible repayment periods and more. The range of Interest Rates that LIC Housing Finance Limited provides is 8.50% to 8.70%.
PNB Housing Finance Limited
PNB Housing Finance Limited is a subsidiary of Punjab National Bank who provides affordable home financing solutions to the customers. There are so many branches that are located all across India.
PNBHFL not only provides the loan for a purpose of purchase of a house, but also offers for the purpose of building an extension with the existing house, and construction of a new house. Resident Indians and NRIs can avail home loan.
Interest rates that the bank offers – 9.30% for salaried, 9.50% to 11.00% for Self-employed Non-professionals, and 9.30 to 10.30 % for Self-employed Professionals.
From the above list of Housing Finance Companies, you will get help if you are looking for a home loan. Many people are not aware of the procedure of taking a loan and about their eligibility. They have any queries regarding this process. In this case, they need advice from an expert in the particular field.
If you have any query or want to know more about the procedure of home loan and banks you need to find the right platform that can give you all the answers to your queries. BANKERBHAI is the right platform where you can meet with the expert and get the best guidance or advice. You can use various financial calculators on Loans, Investments etc. You can ask money-related query anytime.