Home Loan in Bangalore

Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Bangalore

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.50%-9.85% p.a.	8.50%-9.85% p.a.	8.50%-9.85% p.a.	Check Eligibility
HDFC Bank Limited	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Check Eligibility
LIC Housing Finance	8.50% - 11.25% p.a.	8.50% - 10.55% p.a.	8.50% - 10.75% p.a.	Check Eligibility
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Check Eligibility
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Check Eligibility
PNB Housing Finance	8.50% - 14.50% p.a.	8.50% - 14.50% p.a.	8.50%-11.45% p.a.	Check Eligibility
Punjab National Bank	8.45% - 10.25% p.a.	8.40% - 10.15% p.a.	8.40% - 10.15% p.a.	Check Eligibility
Bank of Baroda	8.40% - 10.65% p.a.	8.40% - 10.65% p.a.	8.40% - 10.90% p.a.	Check Eligibility
IDFC First Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards	Check Eligibility
L&T Finance Limited	8.65% p.a. onwards	8.65% p.a. onwards	8.65% p.a. onwards	Check Eligibility
Tata Capital Housing Finance	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Check Eligibility
Federal Bank	8.80% p.a. onwards	8.80% p.a. onwards	8.80% p.a. onwards	Check Eligibility
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.	Check Eligibility
Godrej Housing Finance	8.55% p.a. onwards	8.55% p.a. onwards	8.55% p.a. onwards	Check Eligibility

Note: Rates as of 11th December 2024

Home Loan Features

• Interest rates start usually @ 8.30% p.a. onwards
• Tenures might range up to 30 years
• LTV ratio: 90% of property cost
• Home loan balance transfer of existing home loans from bank/HFC to other bank/HFCs at lower interest rates
• Top-up facility to existing home loan borrowers to meet their personal requirements
• Home loan overdraft option to ensure higher liquidity and interest cost savings
• Pre-approved instant home loans to select customers
• Pradhan Mantri Awas Yojna: Credit linked interest subsidy of up to Rs 2.76 lakh for EWS, LIG, MIG-I, MIG-II
• No pre-payment charges

Income Requirements of Home Loan in Bangalore:  At least Rs 15,000 p.m. for salaried applicants; can be more for some Banks/NBFCs

Eligibility Criteria of Home Loans in Bangalore

• The applicant should be an Indian Resident, NRI, PIO. Some banks and HFCs also offer home loans to NRI and PIO applicants, branded as NRI Home Loan.
• Minimum Age- 21 years; Maximum Age- Up to 70 years when loan matures
• Job Profile: Salaried (government and corporate employees)/Self-Employed Professional (Doctors, CS, lawyers, CA, architect, consultant, engineer)/Self-Employed Non-Professional (contractor, trader, commission agent)
• Work experience: At least 3 years
• CIBIL/Credit score should be 750 and above for increased chances of availing home loan and at lower interest rates

Also Check Home Loan Eligibility Critria

Documents Required for Home Loans in Bangalore

For Salaried Applicants

• Aadhaar card, voter ID, driving license, PAN card, passport, for KYC
• Income Proof: Salary slips for last 3 months, Bank statement for past 6 months with salary credits, ITR/Form-16
• Bank statement showing repayment history
• Employment contract
• Own contribution proof
• Property related documents
• Processing fee cheque

Additional Documents for Self-Employed Applicants

• Recent Form 26AS
• Business profile
• Memorandum and Articles of Association of the company
• Balance sheet and profit & loss account statement for last 3 years
• Income Proof: ITR with income computation for past 3 years
• Savings account statement of individual for last 6 months and current account statement of business entity

Also Check Home Loan EMI Calculator