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Home Loan in Chennai

Home Loan in Chennai

Last Updated : Sept. 28, 2019, 12:09 p.m.

About Home Loan in Chennai

Chennai is the capital city of Tamil Nadu. It is the main cultural, educational and economic center of South India. It is one of the third largest deposit center and credit center of India. The city is the headquarter of few banks and the other banks have a number of branches in the city to fulfill the financial aid of the people. It is one of the important city of southern India and has attracted a lot of large and medium to small companies. If you are also planning to settle down in Chennai, you must buy a home of your own . The interest rates offered by best home loan banks in Chennai. Below are the address details of the banks where you can get affordable rates.

Apply Home Loan @ 8.65%* Rate

Branch Address of Best Home Loan Banks in Chennai

Banks NameMain Branch AddressHome Loan Rate Of Interest
SBIDhandeeswaram main road, Dhandeeswaram nagar, Velachery, chennai 6000429.15% - 11.30%
HDFC Ltd759, ITC Center, Anna Salai, Chennai 6000028.50% - 9.40%
ICICI Bank1, Cenotaph Road, Chennai, 6000189.00% - 10.05%
Axis Bank82 Dr. Radhakrishnan Salai Mylapore, Chennai 6000048.75% - 9.15%
PNB HFLPnb Housing Finance Ltd
Vaagai, 2nd floor, sector 1,
Ambattur industrial estate,
2nd main road, Chennai - 600058
8.50% - 11.95%
Indiabulls HFL1st Floor, No.7, AC Block, 2nd Avenue, Anna Nagar,9.30% Onwards
Bank of Baroda252 A, Ttk Road, Alwarpet, Chennai 6000188.50% - 10.60%
DHFLThe Blue Lace Brocade, Door No.2/75, 1st Floor, New Avadi Road, Kilpauk Garden, Chennai.6000109.05% - 9.95%
LIC HFLLIC Housing Finance Limited, LIC Zonal Office , Ground Floor
153 Anna Salai
Chennai - 600056
Tamil Nadu
8.50% - 10.75%
IDBI BankP.M.Towers 37, Greams Road, Chennai8.80% - 12.25%

Home Loan in Chennai Details

Interest Rate6.70% - 14.00%
Processing Fee0% to 1.25 % of the loan amount
Tenure/ Repayment1-30 years

Eligibility Criteria

ParticularsSalaried IndividualsSelf-Employed IndividualPartnership FirmPrivate/Public Ltd. Company(in existence for at least 3 years)
AgeThe applicant should be above 21 years old at time of application, and less than 58 years of age at time of maturity of the loanAny proprietor, partner, professional or director above 21 years but below 65 years at the time of the loan maturity.
IncomeGross annual income of at least ₹ 1,80,000 per annumGross annual income of at least ₹1,80,000lakhsFirm should have a minimum PAT (profit after tax) of ₹3 lakhsMinimum PAT (profit after tax) of ₹3 lakhs
Job StabilityThe total employment stability should be more than 2 years and current employment stability of minimum 1 yearBusiness stability should be more than 3 years

Documents Checklist

  • Proof of Identity- PAN Card/Driving license/ Voter ID/Passport/Aadhar Card.
  • Proof of address- Passport/Utility bill/Aadhar card
  • Proof of Income- Latest salary slip/ ITR/Form-16
  • Bank Statement – Last 3 months bank statement/ last 6 months bank passbook.
  • Property Documents- Agreement sale copy, Certificate of possession, Land tax receipt, the detailed cost of construction, Letter of allotment, Original NOC.

About Home Loan

Want to a home for yourself and your family? Why pay rent, you can instead opt for a home loan which can secure a place for you. The home loan is a product offered by banks and NBFC to help to cherish your dream to have a home or place for yourself. It can be used in buying the new property, construction of houses, the renovation of home or extension of your house etc. The interest rate of the home loan is relatively less than other loan products as it is the secured loan. The repayment tenure for the home loan is long and maximum time period is 30 years which give you the option to pay low-EMI and come with instant approval facility.

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