Types of Property Loans
Home Loans
For buying or building a new house or an old one.
Main points: Long term (up to 30 years), tax savings, and easy payback options.
Loan Against Property (LAP)
For getting money by using your house, shop, or factory as security.
Main points: Lower rates than personal loans, longer pay time, and big loan amounts based on property worth.
Construction Loans
For building a house on land you own.
Main points: Money given in parts as building work moves along.
Plot Loans
For buying land to build on later or to invest in.
Main points: Shorter pay time than home loans.
Home Improvement Loans
For fixing, upgrading, or changing your current house.
Main points: Fast approval and easy payback.
Top-Up Loans
For extra money on your current home loan.
Main points: Few papers needed and no extra security.
Top Loan Providers and What They Offer
1. State Bank of India (SBI)
Loans: Home Loans, Loans Against Property (LAP), Extra Loans.
Rates: From 8.5% yearly.
Period: Up to 30 years.
Key Points: No secret fees, switch option, and government aid for some under PMAY.
2. HDFC Bank
Loans: Home Loans, Build Loans, Plot Loans, LAP.
Rates: From 8.6% yearly.
Period: Up to 30 years.
Key Points: Apply online, expert help, and special deals for current users.
3. ICICI Bank
Loans: Home Loans, LAP, Extra Loans.
Rates: From 8.75% yearly.
Period: Up to 20 years.
Key Points: Quick steps, easy pay plans, and online approval.
4. Axis Bank
Loans: Home Loans, LAP, Fix-Up Loans.
Rates: From 8.8% yearly.
Period: Up to 30 years.
Key Points: Service at home, switch option, and no charges for early pay.
5. Punjab National Bank (PNB)
Loans: Home Loans, LAP.
Rates: From 8.9% yearly.
Period: Up to 25 years.
Key Features: Low rates and small fees.
6. LIC Housing Finance
Options: Home Loans, Build Loans, Land Loans.
Rates: From 8.7% yearly.
Term: Up to 30 years.
Key Features: Big loan limit and simple papers.
7. Bajaj Finserv
Options: Property Loans, Home Loans.
Rates: From 9% yearly.
Term: Up to 25 years.
Key Features: Big loan sum, fast nod, and online tools.
How to Pick the Best Loan
- Match rates and fees.
- Check term and EMI choices.
- Look for early pay or close rules.
- Think about help and online offers.
- Use tools to check EMI and if you qualify.
- Need help with EMI math or comparing plans?