Achieve Your Dream Home with IDCS Home Loans!
With IDCS Home Loans, you can experience quick approvals, seamless processing, and competitive interest rates. Whether you’re purchasing your first home, upgrading to a bigger space, or transferring your existing home loan, IDCS offers home loans up to ₹10 crores with interest rates starting at just 7.5% p.a.
Available to both salaried and self-employed individuals, IDCS home loans provide flexible repayment tenures, minimal documentation, and fast disbursal. Realize your dream of owning a home with the trusted support of IDCS and take the first step toward securing your future today!
Home Loans: Compare, Apply & Secure the Best Offer with IDCS
At IDCS, we assist you in comparing home loan interest rates and features offered by leading banks and Housing Finance Companies (HFCs) to help you choose the best option based on your credit profile. Banks and HFCs typically offer home loans of 75% to 90% of a property’s value, with loan terms stretching up to 30 years, depending on the applicant’s credit standing and the loan-to-value (LTV) caps set by the lender and the Reserve Bank of India.
| Interest Rate | Starting from 8.35% p.a. |
| Loan Amount | Varies on case-to-case basis |
| LTV Ratio | Up to 90% of the property value |
| Tenure | Up to 30 years with some lenders extending till 40 years |
| Processing Fees | 1% to 2% of the loan amount (may vary across lenders) |
Interest Rates for Home Loans
The interest rate on a home loan depends on multiple factors, including the applicant’s credit score, monthly earnings, loan amount, LTV ratio, job profile, and employer’s credentials. Rates and terms, including processing fees, vary significantly across lenders based on their funding costs and the applicant’s credit risk evaluation.
IDCS helps you evaluate loan offers from over 20 partner banks and HFCs based on your income, repayment capacity, credit score, and other eligibility factors, making the home loan process simpler and more efficient.
Top Home Loan Providers in India
| Name of Lender | Interest Rate (p.a.) |
|---|---|
| State Bank of India | 8.50% – 9.85% |
| HDFC Bank | 8.70% onwards |
| ICICI Bank | 8.75% onwards |
| Bank of Baroda | 8.40% – 10.90% |
| Punjab National Bank | 8.40% – 10.25% |
Home Loan Fees & Charges
| Charge Type | Amount |
|---|---|
| Processing Fee | 1% – 2% of the loan amount |
| Foreclosure/Prepayment Fee | Nil for floating rate, 2% – 4% for fixed rate |
| EMI Bounce Charges | Around Rs 400 |
| Overdue Charges | 2% per month on unpaid EMI |
Eligibility Criteria for Home Loans
Home loan eligibility requirements may differ among lenders. However, common criteria include:
- Nationality: Indian residents, NRIs, and Persons of Indian Origin (PIOs)
- Credit Score: Preferably 750 or above
- Age: Minimum of 18 years (some lenders set 21 years), maximum up to 70 years at loan maturity
- Income: Minimum salary of Rs. 25,000 per month (varies by lender)
- Work Experience: 2 years (salaried); 3 years (self-employed)
Required Documents for Home Loans
When applying for a home loan, lenders will ask for documents that verify your identity, income, and the property you plan to purchase. Commonly requested documents include:
- Identity Proof: PAN Card, Passport, Aadhaar, etc.
- Age Proof: Aadhaar, PAN, Passport, Birth Certificate
- Income Proof: For salaried individuals, Form 16, payslips, and IT returns; for self-employed, business license, ITR, and profit/loss statements.
- Property Documents: Sale deed, building plan, NOC from builder/society, etc.
Types of Home Loans
- Home Purchase Loan: For buying new, under-construction, or resale homes.
- Composite Loan: For buying land and constructing a house on it.
- Home Construction Loan: For building a house on a plot you already own.
- Home Renovation Loan: For funding home repairs or improvements.
- Home Extension Loan: For adding more space to your existing home.
Steps to Apply for a Home Loan with IDCS
- Step 1: Provide your details, including personal and loan-related information.
- Step 2: View the offers available based on your details.
- Step 3: Apply for the loan that best suits your needs.