Home Loan Banks

Home Loan is a product with so many variations in Eligibility, Rate of interest (Fixed, Floating, and Mixed), and Loan amount. It is really difficult for a customer to gather the information about the major players for the same.

LIC Housing LIC Housing Finance offers home loans for construction/purchase of house/flat and also for renovation of existing flat/house. While LIC Griha Prakash and are for purchase, construction of properties and extension of residential units, LIC Griha Sudhar Loan facilitates repairs/renovation of properties. Minimum age requirement is 21 years as on the date of sanction.	State Bank of India (SBI) The most preferred home loan provider. The latest offer is an interest rate concession on GREEN HOMES in accordance with SBI's commitment to Environment protection. Having a vast variety of products to suite every kind of customer. Minimum age limit 18 yrs & Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid.
HDFC Ltd Over 3 decades of exclusive experience, a dedicated team of experts and a complete package to meet all your housing finance needs. Their home loan is available for individuals to purchase (fresh / resale) or construct houses. Application can be made individually or jointly. HDFC finances up to 80% maximum of the cost of the property (Agreement value + Stamp duty + Registration charges) based on the repayment capacity of the customer.	CitiBank A bigger, better home with CITI bank home loans .The bank offers loans for loans for built property as well as under construction property. Salaried persons should have at least Rs 1,00,000 gross income per annum and minimum age at least 23 years to be eligible for the loan, maximum age should be 65 or retirement age. Self-employed gross annual income should be Rs 85,000. The age limits are the same as salaried class.
ICICI Bank Home Loan offers hassle free home loans with the best deal. The loan tenure is maximum upto 25 years. They offer multiple benefits on the loan taken. • Simplified Documentation – The loan application process is easier and loan approval process, faster with simplified documentation. • Door Step Service – They personally deliver your Home Loan at your doorstep. • Attractive Interest Rates –offers you a wide range of home loan rates to choose from	IDBI Bank Helps you realise your long cherished dream of owning your home through hassle free and customer friendly home loans. The tenor of a home loan can be up to 25 years for a resident individual whereas for NRIs the maximum tenure is 15 years subject to maximum age of 60 years at maturity. Loan can be applied for a maximum of 90% of the property value subject to credit discretion
IDBI Housing Finance A New generation home finance company which combines the best attributes of the various providers of home finance. They have a unique offer for safe custody of documents, provided free of cost to their customers. Minimum age eligibility is 21 years either for employed or self employed individuals. You can get a loan from Rs 10,000 up to a maximum of Rs 1 crore.	DHFL DHFL started its business in April 1984.It was the second housing company that was setup in India. There objective is to provide loan to lower and middle income Indians. Today they have 72 branches and 116 service location. Dewan Housing Finance Limited offers home loan to individuals, Co-operative Societies, Corporate bodies and associations of persons.
Axis Bank Buy the house that you've set your heart on with Axis Bank home loans. Get attractive interest rates, balance transfer facility, doorstep service & option to choose from floating rate or fixed rate. And what’s more no pre payment penalty!! They offer the loan from Rs 1 lac & above onwards, the age criteria is 24years at loan commencement. And up to 65 years or less at the time of loan maturity	Deutsche Bank Your partner for your dream home. They offer a wide range of home loan options.The loan amounts range from Rs. 250,000 to Rs. 2 crore and the tenure is from 5 years to 20 years. You can choose between a fixed and a floating interest rate for your loan. Also, with attractive interest rates and savings on taxes, a Deutsche bank Home Loan gives you complete peace of mind.
Standard Chartered Bank If you are looking for a Home Loan that suits your pocket & fulfill the basic need of a Dream Home, then Standard Chartered is there to convert this dream into reality. The unique features, benefits & a wide range of loans are available for you to purchasing a plot, construction flat, home extension and renovation.	GE Money GE Money makes it possible for you!! GE Money Housing Finance offers you complete solutions for all your housing related needs. They offer Home Loans upto Rs. 2 Crores with attractive interest rates. Your can get a Loan upto 85% of property value as loan. You can also avail of a Loan Transfer from other banks.
Citifinancial You can get a housing loan quickly & hassle free at Citifinancial. Their home loans are customized to your requirements. They also have various schemes which they offer on the loan to suit your needs	Kotak Mahindra Bank At Kotak Mahindra bank, you can avail of home loans for the purpose of purchasing residential property. Whether you are buying it fresh from the developer or it is a resale purchase. They have wide range of offerings with attractive interest rate. You also get free personal accident insurance.

Car Loans Interest Rates

(Last edited on : 11 August 2011)

Banks/Rates	New Car Loan (Reducing)	Used Car Loan (Reducing)	Processing Fee	Apply
ICICI Bank	11.00% - 12.75% (From 36 - 60 months) 13.25 - 14.25% (From 24 - 35 months), 15.25% (Upto 23 months)	16.00 - 17.50%	Rs.2500/- to Rs.5000/-
HDFC Bank	15.75% (above 60 months), 11.50% -14.25% (From 36 - 60 months), 13.75% -14.75% (From 24 - 35 months), 15.75% -16.25% (from 12 - 23 months) Corporate Rates 11.50% - 12.25% (From 49 - 60 months), 11.50% - 12.25% (From 36 - 48 months), 11.25% - 12.00% (Upto 36 months)	15.25% - 17.75% (60 months), 15.25% - 17.75% (48 months), 15.25% - 17.75% (36 months), 15.75% - 18.25% (24 months), 15.75% - 18.25% (Upto 12 months) Corporate Rates 13.75% - 15.25% (From 36 - 60 months),	Rs 2325/- to Rs. 4275/-
Kotak Mahindra	11.50% - 13.50%	17% - 20%	Rs.3300/- to Rs.4750/-
Axis Bank	11.50% - 14.50%	16.50% - 18%	Rs.3000/- to Rs.3500/-
State Bank of India (SBI)	11.75%	16.75% - 17%	0.5% of loan Amount
Bank Of India	12.50% - 13.50%	13.50% - 14%	a) Loans upto Rs.25,000/- - one time Rs.1,000/- b) Loans above Rs.25,000/- upto Rs.25 lacs - one time 1.10% of loan amount - Min.Rs.1,500/- & Max. Rs.5,000/- c) Loans above Rs.25 lacs - one time 0.25% of the loan amount Max.15,000/-
Federal Bank	12% - 12.50% (upto & including 36 months) 12.50% - 13% ( Above 36 months to 60 months)	15.22% - 15.72%	Rs 1655/- to Rs 2758/-

Disclaimer: Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

Home Loan from State Bank of India (SBI) Bank

 Home Loan from State Bank of India

(SBI) Bank

SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India. SBI provides a Two Home Loan With Different benefits and Schemes.

1. SBI Easy Home Loan - For Loan amount upto Rs. 30 Lacs.
2. SBI Advantage Home Loan – For Loan amount above Rs.30 Lacs. 

NEW RATES [New Rates are applicable from 1st May '2011]
Loan amount (Rs  lakh)	Linkage with base rate	Effective rate (%) per annum
Up to 30	One per cent above base rate	9.50
Above 30 and up to 75	1.25 per cent above base rate	9.75
Above 75	1.75 per cent above base rate	10.25
Source: SBI

Purpose :
• Purchase/ Construction of House/ Flat
• Purchase of a plot of land for construction of House
• Extension/ repair/ renovation/ alteration of an existing House/ Flat
• Purchase of Furnishings and Consumer Durables as a part of the project cost.
• Takeover of an existing loan from other Banks/ Housing Finance Companies

Features:
• Interest charged on the daily reducing balance
• No penalty for prepayments made
• No hidden costs
• All the features of our product, including interest rates, are in the public domain.
• Loan sanctioned within 6 days of submission of required documents.
• Option to club income of your spouse and children to compute eligible loan amount
• Provision to club depreciation, expected rent accruals from property proposed to compute eligible loan amount
• Provision to finance cost of furnishing and consumer durables as part of project cost
• Repayment permitted upto 70 years of age
• Free personal accident insurance cover upto Rs.40 Lac.
• Optional Group Insurance from SBI Life at concessional premium (Upfront premium financed as part of project cost)
• ‘Plus’ schemes which offer attractive packages with concessional interest rates to Govt. Employees, Teachers, Employees in Public Sector Oil Companies.
• Special scheme to grant loans to finance Earnest Money Deposits to be paid to Urban Development Authority/ Housing Board, etc. in respect of allotment of sites/ house/ flat

Eligibility
• Minimum age 18 years as on the date of sanction
• Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid. Availability of sufficient, regular and continuous source of income for servicing the loan repayment.
Loan Amount
• 40 to 60 times of NMI, depending on repayment capacity as % of NMI as under –

Net Annual Income	EMI/NMI Ratio
Upto Rs.2 lacs	40%
Above Rs.2 lac to Rs. 5 lac	50%
Above Rs. 5 lacs	55%

Pre-closure Penalty
No penalty if the loan is precolsed from own savings/windfall gains for which documentary evidence is produced by the customer.
In case, such proof is not produced by the borrower, penalty @2% on the amount prepaid in excess of normal EMI dues shall be levied if the loan is preclosed within 3 years from the date of commencement of repayment.
Maximum Repayment Period
• for applicants upto 45 years of age: 20 years
• for applicants over 45 years of age: 15 years

Documents
• Completed application form
• Passport size photograph
• Proof of Identity – PAN Card/ Voters ID/ Passport/ Driving License
• Proof of Residence – Recent Telephone Bill/ Electricity Bill/ Property tax receipt/ Passport/ Voters ID
• Proof of business address in respect of businessmen/ industrialists
• Sale Deed, Agreement of Sale, Letter of Allotment, Non encumbrance certificate, Land/ Building Tax paid receipt etc. (as applicable and subject to satisfaction report from our empanelled lawyer)
• Copy of approved plan and approval from the Local Body
• Statement of Bank Account/ Pass Book for last 6 months

Check Other Products of SBI (State Bank of India)

1. SBI Personal Loan
2. SBI Home Loan
3. SBI Credit Card

Registered Office-State Bank of India
State Bank Bhavan Central Office 8th Floor,
Madame Cama Marg, Nariman Point,
Mumbai - 400021
Maharashtra - India

  State Bank of India (SBI) Personal Loan

State Bank of India Personal Loan rates are competitive in market but not lowest as per popular belief. Before taking any loans compare Personal Loan Rates of all banks and then take a decision.
Enjoy the SBI Advantage :
• Low Personal Loan Interest Rates. Further, charge interest on a daily reducing balance!!
• Minimum processing charges; only 1%-2% of loan amount.
• No hidden costs or administrative charges.
• No security required.... which means minimal documentation…something that you had always wanted.
• No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan (1% of the loan amount will be charged if you repay the loan before 6 months)
• Long repayment period of up to 48 months.

Salaried (At present, only salaried individuals are covered under the scheme).

Eligibility Criteria	Loan Amount	Documents Required
Resident Indian National	2.50 lakhs in Non Metros 5 lakhs in Metros Upto 10 lakhs where salaried account or current account is with Sbi It is determined by your repayment capacity. Minimum Income: Rs.24,000/- in metro and urban centres Rs.10,000/- in rural/semi-urban centres Maximum Loan Amount: 12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 lacs in all centres	1). Passport size photograph 2). Proof of official address for self employed individuals and professionals. This can include shop and establishment certificate/Lease deed/Telephone Bill 3). Latest Salary clip and Form 16, in the case of salaried persons.

• Max Tenor : 48 months
• Processing fee : 1%
• No prepayment charges
Personal loan amount can be increased by making your spouse as co borrower.

Interest Rates
Personal Loans Scheme (SBI Saral)	16.75% p.a.
SBI Loan to Pensioners	12.25% p.a.
Loans to Employee to Subscribe to ESOPs	14.00% p.a.

State bank of India also provides beneficial services in Home Loan, Car Loan, Credit Card, Educational loans, festival loan and Loan Against Property.

State Bank of India-
Head Office:
State Bank of India,
State Bank Bhawna, 8th Floor,
Madame Cama Road,
Mumbai-400021
Telephone No. 22029456 or 22029451, Fax no. 22885369.

 State Bank Of India Home Loan

The Most Preferred Home Loan provider SBI Bank offers a Home Loan with Attractive Interest Rates with Latest Schemes and Benefits. SBI also provides a Housing loan with different schemes. Schemes Are:-
1. SBI Easy Home Loan
2. SBI Advantage Home Loan
3. SBI Housing Finance Scheme
4. SBI Happy Home Loans
5. SBI Life Style Loan
6. SBI Green Home Loan
7. SBI Home Plus
8. SBI Home Line
9. SBI MY HOME CAMPAIGN
Current Floating Home Loan Interest Rates of SBI

Bank Name	Up to 30 Lacs	From 30 lacs to 75 Lacs	Above 75 lacs
SBI	11%	11.25%	11.75%

Note:- Interest rate after three years may be Fixed or Floating as per the borrower’s choice made at the time of sanction.

Features & Benefits of SBI Home Loan
• Purchase/ Construction of House/ Flat
• Purchase of a plot of land for construction of House
• Lowest Home Loan Interest Rate..
• Extension/ repair/ renovation/ alteration of an existing House/ Flat
• Purchase of Furnishings and Consumer Durables as a part of the project cost.
• Takeover of an existing loan from other Banks/ Housing Finance Companies.
• Interest charged on the daily reducing balance
• No penalty on prepayments of home loan
• No hidden costs
• Option to club income of your spouse and children to compute eligible loan    amount
• Provision to club depreciation, expected rent accruals from property proposed to compute eligible loan amount
• Provision to finance cost of furnishing and consumer durables as part of project cost

Eligibility Criteria & Documentation required for SBI Home Loan

	Salaried	Self employed
Age	21years to 60years	21years to 70years
Income	Rs.1,20,000 (p.a.)	Rs.2,00,000 (p.a.)
Loan Amount Offered	5,00,000 - 1,00,00000	5,00,000 - 2,00,00000
Tenure	5years-20years	5years-20years
Current Experience	2years	3years
Documentation	1) Application form with photograph 2) Identity & residence proof 3) Last 3 months salary slip 4) Form 16 5) Last 6 months bank salaried credit statements 6) Processing fee cheque	1) Application form with photograph 2) Identity & residence proof 3) Education qualifications certificate & proof of business existence 4) Business profile, 5) Last 3 years profit/loss & balance sheet 6) Last 6 months bank statements 7) Processing fee cheque

Other Products from SBI (State bank of India)
1. SBI Home Loan
2. SBI Personal Loan
3. SBI Housing Loan
4. SBI Card

Information on deposits & Loan Schemes and services also available. Call 1800112211
(Tollfree from BSNL/MTNL)
Registered Office-State Bank of India
State Bank Bhavan Central Office 8th Floor,
Madame Cama Marg, Nariman Point,
Mumbai - 400021
Maharashtra - India

Disclaimer : Please note that the interest rates and eligibility criteria given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

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SBI Car Loan

 SBI Car Loan | Interest Rates | Documents | Eligibility | Apply

SBI Car Loan – You have an Option to go through SBI Car Loans Scheme which offers: – Lowest interest rate, Low processing fee, processed through speedy delivery channels with total transparency.
SBI – Financing for ON ROAD PRICE which include vehicle registration charges, insurance, one-time road tax and accessories.

• A new car, jeep, Multi Utility Vehicle (MUV) or SUV (any make or model)

Benefits of SBI Advantage Car Loan Scheme:
outstanding service and lower costs. A quick survey of similar schemes available elsewhere and you will find that SBI Car Loans for new and old vehicles offer you:

• Lowest interest rates
• Longer repayment period of upto 84 months or 7 years.
• No hidden costs or administrative charges.
• Finance for one-time road tax, registration fee, insurance premium and accessories
• No advance EMIs
• Complete clearness: Interest on daily reducing balance method. When you pay one instalment, the interest is automatically calculated on the reduced balance thereafter.

Always compare the Equated Monthly Instalments (EMIs) and the total payments you would be required to make and not the rates of interest.
The SBI Advantage Car Loan Scheme

Purpose
Term Loans & Overdraft will be sanctioned by the Bank for purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs with minimum loan component of Rs. 5.0 lakh and above.
Take over of existing loan from other Bank/Financial institution (Conditions apply)

Eligibility
To avail an Car Loan, you should be:

• Individual between the age of 21-65 years of age.
• A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or
• A Professionals or self-employed individual proprietary/partnership firms who is an income tax assessee
• Net Annual Income Rs. 2,50,000/- and above.

Salient Features

Loan Amount
There is no upper limit for the amount of a car loan. A maximum loan amount of 4 times the net annual income can be sanctioned. If married, your spouse’s income could also be considered provided the spouse becomes a co-borrower in the loan. The loan amount includes finance for one-time road tax, registration and insurance!
No ceiling on the loan amount for new cars.


Type of Loan

1. Term Loan
2. Overdraft – a) For New vehicles only
b) Minimum loan amount: Rs. 5 lakhs
Documents Required
You would need to submit the following documents along with the completed application form if you are an existing SBI account holder:

1. Statement of Bank account of the borrower for last 12 months.
2. 2 passport size photographs of borrower(s).
3. Signature identification from bankers of borrower(s).
4. A copy of passport /voters ID card/PAN card.
5. Proof of residence.
6. Latest salary-slip showing all deductions
7. I.T. Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted.
8. Proof of official address for non-salaried individuals.

If you are not an account holder with SBI you would also need to furnish documents that establish your identity and give proof of residence.
Margin
New / Used vehicles : 15% of the on the road price.
Repayment
You enjoy the longest repayment period in the industry with SBI.
Repayment period:
For Salaried, For Self-employed & Professionals : Maximum of 84 months
Prepayment Penalty:

Prepayment fee of 2% of the amount of the loan prepaid will be levied subject to certain conditions.
Processing Fee
0.50% of Loan amount and to be paid upfront.
Minimum: Rs. 500/-
Maximum Rs. 10,000
25% of Processing fee will be retained if application is rejected after pre-sanction survey.

Security
As per bank’s extant instructions.
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