Home Loans in India
Home Loans in India implies ownership of a house on payment of monthly installments with an interest rate, in fixed or floating rate. Factors like the salary of the client, the desired loan term and other related parameters of the customers profile determine the home loans in India.
There are many nationalized banks as well as housing companies who offer finance at affordable interest rates. Some of the leading sources of Home Loans in India are:
- Citibank
- Dewan Housing Finance
- GIC Housing Fin.
- HDFC
- Hudco
- HSBC
- ICICI
- IDBI
- Kotak Bank
- LIC Housing Finance Ltd.
- PNB Home Loans
- SBI Home Loans
- Standard Chartered Bank
- Tata Housing Finance
Home Loans in India have been made easier with the numerous facilities offered by these banks and the housing companies. The Tata Hsg. Finance includes the premium payable for a Tata AIG Single Premium Life Cover within the loan amount sanctioned. SBI offers home loans with no start-up costs. LIC Hsg Finance Ltd. lowered the interest rate by 0.5% for loans covered by a life insurance cover that is taken from LIC. Some banks like the IDBI or companies like Hudco, offers a special insurance coverage on the home loan for a low premium which covers property, earthquake and personal accident insurances.
However, there are some new schemes launched under the Home Loans in India like the 50Plus Scheme of IDBI Home Finance which offers a special housing loan for the client group above 50 years or a Flexible interest rate product and a FD Linked product offer by the Kotak Bank.
Last Updated on 5/26/2011