Home Loan in Kochi

About Home Loan in Kochi

Kochi is the commercial hub of Kerala and one of the fastest growing cities belonging to the tier-2 category. The city has seen tremendous growth due to the development of many industries. This has appealed to various banks and NBFCs who have opened up more branches keeping in mind the city’s continuous development. These banks offer affordable housing loans to meet the needs of the people. The details of some of the top banks offering home loans in Kochi are as follows:

Top Banks offering Home Loan in Kochi

BanksMain Branch AddressHome Loan Interest Rate
SBIAroor - Thoppumpady Rd, Thopumpady Junction, Thoppumpady, Kochi, Kerala 682005 1800 425 38006.95% - 7.60%
ICICI BankAmbal Building, Thoppumpady, First Floor, Near Gammon Bridge, Kochi, Kerala 6820067.45% - 8.55%
HDFC Ltd1st Floor, Kooliyattu Building,
Cochin Palace P O,
Karingachira, Tripunithura,
Ernakulam - 682 301
TEL: 0484 2785492 / 2785493
6.95% - 8.00%
Axis Bank41/419, Ground Floor Chicago Plaza, Rajaji Road, Ernakulam, Kerala 6820357.75% - 8.55%
PNB HFL66/3402, 1st Floor, Nedumchalil Chambers, Mullassery Canal Road, Cochin, Ernakulam, Kerala 6820318.60% - 9.45%
Bank of BarodaPb 222 Palace Road, Mattancherry (Ernakulam DT.), Cochin, Kerala 6820026.85% - 7.85%
Bank of IndiaErnakulam, At Kannankeri Estate, Shanmugham Road , Ernakulam, 682031, Kerala6.85% - 7.75%
Canara BankShenoy`s Chamber No 40/2363 L & 40/2363M, Shanmugham Road, Marine Drive, Ernakulam, Kerala 6820316.90% - 8.90%
IDBI BankSea Queen Building, Near Changampuzha Park, Lulu Mall NH 47 Entrance, Nethaji Nagar, Edappally, Kochi, Kerala 6820247.80% - 8.80%

Home Loan Kochi in a nutshell

ParticularsDetails
Interest Rate6.70% - 14.00%
Processing Fee0 to 1.25% of the loan amount along with service taxes if applicable
Pre-payment/Part-payment chargesNIL for floating
Tenure/Repayment1 to 30 years

Eligibility criteria required to get home loan in Kochi

ParticularsSalaried IndividualsSelf-employed individualPartnership FirmPrivate/Public Ltd. Company (in existence for at least 3 years)
AgeThe applicant should be at least 21 years at the time of application and 58 years at the time the loan maturesAny proprietor, partner, professional or director above 21 years but below 65 years at the time of loan maturity
IncomeMinimum income of at least Rs. 1,80,000 per annumMinimum annual income of Rs. 1,80,000Minimum Profit after Tax (PAT) of at least Rs. 3 LakhsMinimum Profit after Tax (PAT) of at least Rs. 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 three years

Documentation required to get a home loan in Kochi

  • Proof of Identity– PAN Card/Driving license/ Voter ID/Passport/Aadhar Card.
  • Proof of address– Passport/ Telephone bill/Aadhar card/Electricity bill
  • 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, Detailed cost of construction, Letter of allotment, Original NOC

About Home Loan

Whether you want to buy a new house or renovate your current one home loan is for everyone. One can use a home loan to even extend, construct or repair his/her home. Leading Banks and Non-Banking Financial Companies are willing to offer home loan to applicants if they fulfill the eligibility criteria and complete the documentation work. Applicants can avail a home loan from the lenders for a tenure ranging up to 30 years. The interest rates on a home loan are comparatively lower than other products offered by banks and NBFCs.

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  • Home Loan Interest Rates July 2020
    Axis Bank7.75% - 8.55%
    Bank of Baroda6.85% - 7.85%
    Citibank8.20%
    HDFC6.95% - 8.00%
    ICICI Bank7.45% - 8.55%
    Indiabulls Housing Finance Limited8.80% - 11.05%
    Kotak Bank7.40% - 9.70%
    LIC Housing7.40% - 8.85%
    Piramal Capital & Housing Finance9.00% - 9.10%
    PNB Housing Finance8.60% - 9.45%
    Reliance Home Finance8.75% - 14.00%
    State Bank of India/SBI6.95% - 7.60%
    Tata Capital9.20% - 9.35%