Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Free CIBIL Score

India’s First Home Loan application that gives you Free CIBIL Score

Existing user? Login and get the quote quickly.

Please select city.

Factors affecting your Eligibility for a Home Loan

For a hassle free loan process, ensure you are up to the mark on each of these parameters

Monthly Income

The higher your income, the higher the loan amount eligibility and greater your chances of acquiring your dream home.


Starting early has its benefits. Applying at age 30-35 years makes you eligible for a higher loan amount, as compared to applying when you are 40-50 years old.

Property Value

Quality adds to credibility. Choosing a good property in an approved society, colony or area is viewed more favourably by banks.

Credit History

Your Credit History can open or close the gate to your dream home. Always maintain a good CIBIL score.

Employment Status

As a Salaried person, you must have a minimum of 3 years work experience, to become eligible for a home loan.

Professional/Business Status

As a self-employed professional or a businessman, you must submit your professional details, business status record and bank statements as proof of your financial stability.

Relationship with Lender

A good understanding with the bank can go a long way in negotiating a good loan amount at lower rates.

Your Employer Category

Working at a well-regarded company not only adds to your reputation, but also your loan eligibility. A Fortune 500 Company on your visiting card really helps!

Proud to be associated with

We are thankful for the immense support from our channel partners in helping millions fulfill their wishes

State Bank of India/SBI
LIC Housing
Au Financiers
PNB Housing Finance

Loans made pocket friendly

Choose your desired EMI first... then identify the loan that fits your pocket!

Special offers


Zero Processing fee on all home loan applications till December 31, 2018.


LIC home loan rates as low as 8.85% p.a

Reduce your EMI burden

Your EMIs need not be so high! Trim your monthly burden using Balance Transfer Options suggested by our experts.

per annum

Compare Banks by their Interest Rates

Banks differ in terms of the offered Interest Rates. Now Rate your bank based on the Rate it offers.

About Home Loan

A home loan is given by a financial institution or a bank for property purchase.You can buy a house with the money borrowed from a financial institution and then repay it gradually for the chosen time period. It is the lowest rate loan which can be taken for up to 30 years. The loan is secured against your property and in case of failed repayment of the home loan, the lender may use it for debt settlement. The eligibility for a home loan depends on an applicant's income, credit history, property value and location, income proof, and property documents. Consecutively, the maximum loan amount depends on property value, total repayment worth and factors as mentioned. There is tax exemption on a home loan in addition to PMAY interest subsidy for first-time borrowers. So, to select a lender, you can compare different lenders on the basis of interest rate, tenure and loan amount. Look at the additional benefits buying a property via a home loan:

  1. Home loan rates are as low as 8.50% per annum
  2. Women borrowers/co-applicants get special rates
  3. Tax exemption on home loans
  4. Compare before selecting one lender
  5. Option to transfer the loan to a lower rate
  6. Multi-purpose home loan facility

Types of Home Loans

The different types of housing loans offered by banks/NBFCs in India are as follows:

  • Home Purchase Loan 
  • Land Purchase Loans/Plot Loan
  • Home Construction Loan
  • Home Improvement Loan
  • Home Conversion Loan
  • Home Extension Loan

Top Banks Offering Lowest Home Loan Interest Rates Dec 2018

Here is the list of top banks offering lowest housing loan interest rates in India. You can compare and apply online for the best home loan.

Banks/NBFCsInterest Rate (p.a)Processing Fee
SBI8.75%-9.35% Zero till December 31, 2018
ICICI Bank9.10%-9.35% ₹10,000/- + GST or 0.25% of the loan amount + GST
Bank of Baroda8.65%-9.65%Upto 0.50% of the loan amount or Max ₹7,500+GST
Axis Bank8.85%-9.10%Up to 1.00% of the Loan amount subject to minimum of ₹10,000 + GST
Citibank9.00%-9.85%Up to 0.40% of the loan amount + GST
HDFC Ltd8.80%-9.70%₹10,000 + GST
Bajaj Finserv8.85%-11.15%NA
LIC HFL8.85%-9.05%Upto ₹1 crore: - 0.25 Paise + GST or ₹10000 + GST which ever is less
More than ₹1 crore - ₹25000 + GST
Kotak Bank8.90% onwards

Zero processing fee for online application. (Upto 1.25% of Loan amount for offline application)

Punjab National Bank8.70%-8.95%Zero processing fee for loans disbursed till 31.12.2018
PNB HFL9.00%-13%₹10,000 + GST
DHFL9.10%-10.55%Salaried: ₹Upto ₹20,000 + GST 
Self-employed Non-Professional: Up to 1.50% of the loan amount + GST
Indiabulls Housing Finance8.80%-11.05%Loan amount up to ₹30 lakhs - ₹5,000 or 0.50% of the loan amount + GST
Loan amount above ₹30 lakhs - ₹15,000 + GST
Bank of India8.65%-9.55%Zero processing fee for loans disbursed till 31.03.2019 
IDBI Bank8.65%-8.95%Up to ₹5,000 + GST
For inward BT irrespective of the amount & PMAY proposals– Nil
Reliance Home Finance8.75%-14%Up to 2% (including non-refundable fees of ₹3500/- for loan up to ₹35Lakh & 4500/- for loan more than ₹35Lakh)

    Please note that the processing fee or application fee is an upfront fee and is non-negotiable. Other charges such as stamp duty is state specific and mortgage fee is bank specific. There are different types of charges which a borrower has to pay as an upfront fee. So, do check all these with the lender before applying for the loan.

    Why choose Wishfin?

    Home loans are offered by almost all the top banks/NBFCs. So, choosing the best lender might be a little confusing. Wishfin helps you in this by giving you a platform of suitable options by giving an unbiased suggestion based on your requirement. Here are the reasons to choose Wishfin:

    1. 14 Million Satisfied Customers - More than 14 million customers have fulfilled their wishes through Wishfin, so can you.
    2. Instant Quotes from Top Lenders - You get instant quotes from top banks and NBFCs and choose one.
    3. Expert Advice- You get expert advice from the learned and experienced members of the team.
    4. Transparent Process - Experts are there to answer any query related to your home loan application.
    5. End to End Service - You get 100% assistance for the loan application ensuring no delays.
    6. Free CIBIL Score and Report - Wishfin gives you free CIBIL score and report with your home loan application.

    How to Apply for a Home Loan Online?

    Wish Experts guide you in the process of selecting lowest interest rates. The process is much simpler as compared to visiting different lenders.

    Steps to follow to apply for a home loan

    You have to provide the below-given details in the form given at the top of this page:

    1. Enter desired loan amount
    2. Select employment status (salaried/self-employed) and mention monthly income
    3. Your full name, city name, date of birth, contact number and email ID
    4. Accept terms and conditions
    5. Click on 'Get Quotes'

    Soon after you submit the form, another form appears where you have to mention property details such as property value, applicant's gender, residence address, PAN number, and then click on 'Get Quotes'. After completion of this form, you get the list of banks where you are eligible for a home loan.

    Wishfin has partnered with WhatsApp to enable consumers to apply for a home loan on WhatsApp. You can now apply on WhatsApp just like you chat with your friends. You only have to answer a few basic questions related to your loan and the chatbot will show the list of options available for a home loan on WhatsApp. The process is simple and instant which makes it convenient and mass-friendly.

    What is the eligibility criteria for Home Loans?

    Home loan eligibility means the criteria set by the bank to decide whether you can get the loan or not. The table reflects general eligibility criteria at all banks/NBFCs.

    AgeShould be between 21-60 yearsMust be between 21-65 years
    IncomeMinimum income of ₹1,80,000 p.a.Minimum income of ₹1,80,000 p.a.
    Current Experience2-3 years of current job stability3 years of current business stability
    CIBIL Score720 or above720 or above

    You can also check your home loan eligibility to know the maximum loan amount you are eligible to plan your purchase accordingly. Other than your income, age and professional stability, your property location and CIBIL score are very important. Lenders demand CIBIL score of 720 or above with property in an authorized location. However, if you have a genuine reason for your credit score is lower than 720, some NBFCs can consider your application for the approval but a higher rate of interest. 

    How much loan amount can you get based on your salary?

    Lenders calculate your maximum loan amount eligibility for a home loan based on your 50% of net take home salary. The higher salary means a higher share in 50%. As a result, the loan amount you can get will be higher if your salary is high. Another factor considered while calculating the maximum loan amount is your existing loan EMI. If a home loan is already paying an EMI, the EMI is deducted from this 50% of the salary and the remaining amount would decide your maximum loan amount eligibility.  

    What are the documents required for a home loan?

    The documents required to apply for a housing loan is a bit different for salaried and self-employed applicants. Below is the list of documents each of the professionals has to submit:

    Documents required for Salaried

    • Filled home loan application form
    • Identity Proof- Aadhaar Card/ Passport /PAN Card/ Voter ID Card /Driving License
    • Address Proof - Passport/Aadhaar Card /Utility Bill
    • Residence Ownership Proof - Property Documents/Maintenance Bill/Electricity Bill
    • Income Proof - Latest 3 months Salary Slips and Form 16
    • Job Continuity Proof - Current Employment Certificate /Current Job Appointment letter (if more than 2 years)/Experience Certificate (including your previous job certificate or appointment and relieving letter)
    • Bank Statements - Latest 1 year statement where your salary is getting credited
    • Property Documents - Copy of agreement executed / Sale Deed, Share Certificate, Latest Maintenance Bill, List of documents & sanction letter given by Existing Banker (If applicable)
    • Advance Processing Cheque
    • Investment Proof - Fixed Deposit/Shares/Fixed Assets, etc.
    • Passport size photograph/s

    Documents required for Self-Employed (Professionals and Non-Professionals)

    • Filled home loan application form
    • Identity Proof - Aadhaar Card/ Passport /PAN Card/ Voter ID Card /Driving License
    • Address Proof - Passport/Aadhaar Card /Utility Bill
    • Residence Ownership Proof - Property Documents/Maintenance Bill/Electricity Bill
    • Income Proof - Latest 3 years Income Tax Returns including Computation of Income, Profit and Loss Account, Balance Sheet, Audit Report, etc.,
    • Business Existence Proof - 3 years old Saral Copy /Shop Establishment Act /Any Tax Registration Copy /Company Registration license
    • Bank Statement - Latest 1 year bank statement both current and savings.
    • Property Documents - Copy of agreement executed / Sale Deed, Share Certificate, Latest Maintenance Bill, List of documents & sanction letter given by Existing Banker (If applicable)
    • Advance Processing Cheque
    • Investment Proof - Fixed Deposit/Shares/Fixed Assets, etc.
    • Passport size photograph/s

    Please note that income proof is the most important document to get a home loan approval. If you do not get your salary in a bank account, you can not apply for a home loan. Only a limited NBFCs will consider your application for approval at a higher rate of interest. HDFC Reach is one such option which is open for those who do not have income proof.