Home Loan in Bengaluru

Home Loan Rates 2017 390 views

Home Loan in Bengaluru Details

Interest Rate

8.30% - 17.00%

Processing Fee0% to 1.25 % of the loan amount
Prepayment/ part payment chargesNil
Tenure/ Repayment1-30 years
Lowest Per Lakh EMI₹ 758- 864

List of Major Banks with their Branch Addresses & Interest Rates

Banks NameMain Branch AddressRate Of Interest
State Bank Of India65, St Marks Road, Shanthala Nagar, Sampangi Rama Nagar, Bengaluru, Karnataka-5600018.35% - 8.65%
HDFC BankNo.485, B M R Complex, Hennur Bagalur Road, HBR Layout 4th Block, Kalyan Nagar, Bengaluru, Karnataka 5600438.35% - 9.05%
ICICI BankNo, 947, 12th Main Road, HAL 2nd Stage, Appareddipalya, Indiranagar, Bengaluru, Karnataka 5600388.35% - 8.85%
Axis Bank8th Cross Road, Vijaynagar, M.C.Layout, Cholur Palya, Bengaluru, Karnataka 560023

8.35% - 8.75%

Punjab National Bank17th B H Main Road, 5th Block, Koramangala, Bengaluru, Karnataka 5600958.35% - 8.45%
Bank of indiaNo. 400, 2nd Main, 1st Block, Behind Bata Showroom, RT Nagar, Bengaluru, Karnataka 5600328.35% - 8.50%
Bank of Baroda274, V.R. Manor, 100 Feet Rd, Binnamangala, Stage 2, Indiranagar, Bengaluru, Karnataka 5600388.30% - 9.30%
Central Bank Of India3RD Floor, Sanotsh Complex, Near-Janatha Bazar, Kempe Gowda Road, Bengaluru, Karnataka 5600098.30% - 9.30%
Bank of MaharashtraNo.3, 1st Cross,Thimmaiah Towers, Gandhi Nagar, Bengaluru, Karnataka 560009

8.70% - 10.25%

IDBI BankAnand Nilaya, No 6, 100 Feet Road, 5th Block, Koramangala, Bengaluru, Karnataka 5600958.35% - 8.65%

Eligibility Criteria for Home Loan in Bengaluru

  • Salaried must be a minimum of 21 years at the time of loan application and not over 58 years at the maturity of a loan. Self-employed can apply for a home loan at a minimum age of 24 years and must be below 65 years at the expiry of the loan tenure.
  • Salaried and self-employed need to earn an annual income of ₹ 1,80,000 and ₹ 1,80,000-3,00,000, respectively.
  • Over 2 years of work experience and a minimum of 1 year with the existing employer is required for a salaried. But if you are a self-employed, a vigil of not less than 3 years is necessary to avail a home loan.

Documents Required

  • Proof of Identity- PAN Card/Driving license/ Voter ID/Passport/Aadhar Card
  • Proof of address- Passport/Utility bill/Voter ID/Aadhar Card
  • Proof of Income- Last 3-month Salary Slip/ ITR/Form-16
  • Bank Statement- Last 3-6 Month Bank Statement
  • Property Documents- Agreement Sale Copy, Certificate of Possession, Land Tax Receipt, Detailed Cost Break-up of Construction, Letter of allotment, Original NOC

About Bengaluru

With Bengaluru, the names that come to the mind are the IT giants Infosys Wipro and ISRO. These companies are busy setting new benchmarks operating from this beautiful city of Bengaluru. Not only the private sector firms, but even public sector units like Hindustan Aeronautics Limited, Bharat Electronics Limited, Bharat Heavy Electricals Limited, among others are having their headquarters here. Being the capital of Karnataka, Bengaluru ranks among the top five populous cities in India.

About Home Loan

A ‘Ashiyana’ in Bengaluru is a dream of many because of the repute and opportunity that the city has. As the property prices can soar in lakhs to crores in Bengaluru, you would have to fall back on a home loan to buy one. You can avail a home loan for a time period as long as 30 years. With the interest rates getting slashed like anything these days, there can’t be a better time than this to buy a property on a home loan. You can take a loan for buying a new or resale flat, plot to construct a home, furnishing, renovation and extension of a housing unit.

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