In the aftermath of the COVID-19 pandemic, real-estate prices have crashed while Home Loan rates have fallen to historical lows. We’ve lined up the top Home Loans for you to help finance your dream home.
The COVID-19 pandemic shook everything up in 2020, making the year one for the record books. One of the fallouts of sweeping lockdowns, remote working and large-scale retrenchment was the crash in property prices and distress sales of land and housing. With the fall in Home Loan rates, the property market quickly turned into a buyer’s market.
If you’ve been mulling the idea of buying your own home, 2021 could be the year to take the plunge. And to help you do just that, we’ve lined up the top Home Loans in the market to help you finance your new digs.
PNB Housing Home Loan
Our pick for: No preclosure or part-payment fees
Other plus points: No guarantor needed
Interest Rate: 8.60 – 9.45% p.a. (floating)
Loan Tenure: 1 to 30 years
Loan Amount: Rs. 8 lakhs onwards
Processing Fee: Up to 0.25% of loan amount (max. of Rs. 15,000; one-time fee)
Additional Reading: Why You May Not Get A Home Loan Despite Having A Good Credit Score
Union Bank of India Home Loan
Our pick for: Relatively low rate of interest
Other plus points: No preclosure or part-payment fees, no guarantor needed
Interest Rate: 6.90% – 7.17% (floating)
Loan Tenure: 1 – 30 years
Loan Amount: Rs. 25 lakhs onwards
Processing Fee: Up to 0.50% of loan amount (max. of Rs. 15,000; one-time fee)
Apply Here >>
Additional Reading: Ask Yourself These Questions Before Taking A Home Loan Now
HDFC Ltd. Home Loan
Our pick for: Special offers for women applicants
Other plus points: No preclosure and part-payment fees, no guarantor needed, quick approval time (4 days)
Interest Rate: 6.95% – 7.50% (floating)
Loan Tenure: 1 – 30 years
Loan Amount: Rs. 5 lakhs to Rs. 10 crores
Processing Fee: Up to 0.50% of loan amount (max. of Rs. 11,800; one-time fee)
All set to get that Home Loan in 2021? Loan application approval is easier if you have a Credit Score of over 700. Unsure of where you stand? Get your free Experian Credit Score and free analysis report here.