Buying or building a home has become more expensive due to rising property prices.
As a result, many people rely on home loans to make their dream of owning a house come true.
Several private banks in India offer home loans at competitive interest rates. Here are seven banks that provide home loans to eligible customers.
Private Banks Offering Low-Interest Home Loans
Kotak Mahindra Bank offers home loans starting at 7.60% for eligible customers.
Axis Bank provides home loans with interest rates ranging from 8% to 9%, depending on the applicant’s profile.
IDFC First Bank offers home loans starting at 7.75% per year.
More Banks with Affordable Home Loan Rates
Jammu & Kashmir (J&K) Bank offers home loans with interest rates between 7.50% and 8.20%.
Federal Bank provides home loans at interest rates ranging from 7.35% to 9.25%.
IDBI Bank offers home loans with rates starting at 7.40%, going up to 10% for eligible borrowers.
HDFC Bank also offers home loans, with interest rates starting from 7.75%. Depending on the customer’s profile and loan type, rates can go up to 13.20%.
Documents Needed for a Home Loan
The required documents may vary from one bank to another, but most banks ask for similar paperwork during the application process.
Commonly required documents include:
Aadhaar Card
PAN Card
Voter ID or other identity proof
Address proof (such as an electricity bill)
Salary slips
Bank statements
Passport (if required)
Income Tax Return (ITR)
Property-related documents
