Many of you will surely agree on the fact that a home is a beautiful place and we all love our home, isn’t it? No matter where you go, which 5-star hotel or luxurious resort you visit, a home (be it small or big) always gives you solace and comfort. This is the reason that every individual wants to own a home either for him/herself or for their family. And, when it comes to buying a house, it would not be wrong to say that not every individual can easily afford the same.
Yes, those who have enough savings/cash can afford the same without any hassle but what about those who don’t have enough savings/cash. Well, nothing to worry as a home loan is undoubtedly one of the best solutions, taking you closer to your dream home.
That’s Right! Availing a home loan is a smart and ideal option for those who cannot afford to buy/purchase their house in one go. It is a type of credit facility that allows an individual to own a house by paying a small chunk of money every month in the form of EMIs. The process starts with a lender offering you the required loan amount at the specific interest rate with flexible tenures to repay the loan. If we talk about the current scenario, most of the lenders are currently offering the HL interest rate of 8.30% per annum along with a flexible tenure of 30 years to repay the loan easily.
However, there are various other factors as well that play a key role in your overall loan journey. Yes, factors like EMI, Eligibility, Documentation, Credit/CIBIL Score, etc. also contribute towards the HL journey. And, as far as credit score is concerned, you can check your cibil score online anytime in just 2 minutes, Yes, these days there are plenty of sites , allowing you to check your credit score online in just a few simple steps. But today in this article, let’s just give you the sneak peek of HL lenders. Yes, we will talk about some of the top-selling HL lenders in the article below.
SBI: Needless to say State Bank of India is one of the most reputed banks in the country and is best known for offering the HL to one and all. Currently, the bank is offering this credit facility at an interest rate of 8.30%-8.60% per annum with a maximum tenure of 30 years. At present, there is no processing fee charged by the lender, so availing this loan is going to be a pocket-friendly affair.
ICICI: Another prominent name in the home loan arena, there is no denying the fact that ICICI with its bucket-full of HL offering ensures that every individual can easily afford his/her house without any hassle. Talking about the current scenario, 8.35%-8.85% per annum is the interest rate offered by the lender. This credit facility comes to you with a maximum tenure of up to 30 years along with a processing fee of 0.50%-1% of the loan amount.
Bank of Baroda: BOB is no doubt one of the most reputed names in the industry and is best known for catering the varied needs of the people and offering an HL is one of them. The lender is offering the loan at an interest rate of 8.30%-9.30% per annum along with a flexible repayment option of 30 years. A processing fee of 0.50% of the loan amount is something that an applicant needs to pay at the time of availing a loan.
HDFC Ltd: 8.35%-8.95% is the interest rate which is being offered by the lender at present to all the applicants. The bank also offers the credit facility for a tenure of 30 years along with charging a processing fee of ₹10,000 + GST. Before availing the loan, it is important that you should check the same so as to grab the best deal.
Punjab National Bank: By offering the HL facility to all the applicants at an interest rate of 8.35%-8.45% per annum, PNB is no doubt a prominent name of the country. The lender is also offering the flexible tenure of up to 30 years to repay the loan with a zero processing fee.
LIC Housing Finance Limited: When it comes to LIC, this Non Banking Financial Company (NBFC) is known for offering the home loan at an interest rate of 8.35%-8.70% per annum for a tenure of up to 30 years.