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About Home Loan

To make your home loan journey a smooth sail, in this article we will help you to know eligibility criteria, rates of interest, process, necessary documents, comparison and transfer for lowest rates.


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How do I get the best deal for a home loan in India?

While taking a home loan, you must compare and check home loan offers at Loanserve.in as it brings all the leading banks to your desktop or mobile phone. You can shop around here in the same way you purchase merchandise on ecommerce sites.
  • Compare Brands - banking and finance companies
  • Check price - Rate of interest on home loan
  • Check one-time cost - Processing fees
  • Check Discounts- gift vouchers and cash back offers
  • And much more
Once you shortlist the product (home loan offer) apply online, we will be happy to meet you at your doorstep to assist you to complete the borrowing process. Shopping around for a home loan will help you to get the best financing deals in the market place. Shopping, comparing, enquiring, seeking clarifications, negotiating may help you save thousands or may be even lakhs of rupees from your home loan. At the end of the day, every rupee saved is every rupee earned.

What Should I check before finalizing a home loan?

Home loan deals in India.
In India, home loans or housing finance is available from mainly two types of lenders:
  • 1. Commercial Banks
  • 2. Housing Finance Companies (HFCs)

Different home loan lenders may quote a different rate of interest and provide terms and conditions based on your income, repayment capacity CIBIL score and other factors.

Considering the above factors, you must compare home loan rates offered by different lenders to make sure you are getting the best rate of interest on your home loan. We at www.Loanserve.in enable you to compare home loan deals from all the leading banks of India on a single platform.

While finalizing a bank or home loan lender, consider the following factors:
  • How much down payment you are required to pay
  • Find out all the cost involved in the loan (processing fees, administrative charges, etc.)
  • Pre-payment charges on the loan
  • Foreclosure charges on the loan
  • Home Loan amount for which you are eligible
  • Tenure of loan for which you are eligible
  • Options of fixed or floating rate of interest
We at Loanserve.in will get you complete information with reference to your loan requirements and enable you to make a well-informed decision while taking a home loan.

Lowest Rate Home Loan

In India, home loans or housing finance is available from mainly two types of lenders:
  • Before applying/taking finance for your proposed residential property purchase, you must compare the rate of interest available from the different banks and NBFCs online on a neutral platform like Loanserve.in (which provide an unbiased comparison for your requirement) to find out the lowest rate available in the market place.
  • Different Banks may offer you different rate for a housing finance. This will be based on your overall profile (type of employment, annual/monthly income, type of property you are purchasing, CIBIL score, etc.). It also depends on the Bank/ NBFCs cost of funds, lending rate, operational cost of bank etc. (MCLR). If one lender’s cost of fund is higher than the other lender’s cost, then the particular bank may offer you a higher rate than the other, which you may not be aware of. Here Loanserve.in assists you to compare home loan offers from 50+ lenders in a single platform. We enable you to find the lowest or best rate of interest.
  • In short, Loanserve.in brings all the leading lenders at a single platform to help you cherry pick the lowest rate home loan.

What are the different type of Home loan available in India?

Type of home loan available in India.
  • 1. Home Purchase Loan
    This is the most common loan taken in India for the purchase of a residential property. A residential purpose property can be:
    • A ready or an under construction apartment
    • A ready or an under construction bungalow
    • A ready or an under construction row house
    All the mortgage lenders in India like HDFC, SBI, SBI, Axis Bank, DHFL, Kotak Mahindra Bank, HSBC Bank, Yes Bank, Citibank and others are providing this type of home loan.
  • 2. Home Construction Loan
    This loan is available for construction of a new residential property. Home Construction loan can be funded by a housing finance company for construction of a bungalow, row house etc. SBI, HDFC, ICICI, Axis Bank, IDBI Bank, PNB, Andhra Bank and many others are offering this type of house loan. This type of home loan is also called Self Construction Home Loan.
  • 3. Home Improvement Loan
    This type of loan is provided to repay, upgrade and or renovation of an existing residential property.
  • 4. Home Extension Loan
    This type of home loans are given for expanding or extending existing residential property or for adding an extra room, etc.
  • 5. Balance Transfer Home Loan
    This type of home loan helps you to pay off an existing home loan by availing another loan from a different mortgage lender.
  • 6. Balance Transfer Home Loan with Top Up
    In this type of home loan is provided by banks to balance transfer home loan with an addition to – up (cash-out) which may be used for extension of your residential property and some other uses.
    • Balance transfer home Loan from ICICI Bank
    • Balance Transfer Home Loan from HDFC
    • Balance Transfer Home Loan from Yes Bank
    • Balance Transfer Home Loan from Standard Chartered Bank
    • Balance Transfer Home Loan from Axis Bank
    • Balance Transfer Home Loan from Citibank
    • Balance Transfer Home Loan from Kotak Mahindra Bank
    • Balance Transfer Home Loan from HSBC Bank
    • Balance Transfer Home Loan from DBS Bank
  • 7. Land Purchase Loan
    This type of a home loan is provided by banks/NBFCs for the purchase of a land for building a bungalow.
  • 8. Refinance Home Loan
    A refinance home loan helps you to pay off another debt you may have taken to purchase/ build a house. You refinance a housing loan to pay off the other non-home loan.
  • 9. NRI Home Loan
    This type of home loan in tailored for Non Resident Indians (NRIs) planning to purchase/build a house in India. If you are an NRI check best rate for NRI home loan at Loanserve.in. Following are the leading banks for NRI Home Loan in India
    • NRI Home Loan from SBI
    • NRI Home Loans from ICICI Bank
    • NRI Home Loans from Axis Bank
    • NRI Home Loans from Citibank
    • NRI Home Loans from Standard Chartered bank
    • NRI Home Loan from DBS
    • NRI Home Loans from Deutsche bank
    • NRI Home Loans from HDFC Bank
    • NRI Home Loans from HSBC Bank
    • NRI Home Loans from Kotak Bank
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