Home Loans in Hyderabad: Which Bank is Best for Home Loans?

Home Loans in Hyderabad: Special Schemes, Interest Rates, and More!

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About Home Loan in Hyderabad:

Some banks/HFCs provide special schemes for rural housing, affordable housing and those missing formal income documents. Many lenders offer home loan balance transfer facilities to existing home loan borrowers from other banks/HFCs at lower interest rates.

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Compare home loan interest rates offered by various banks and HFCs in Hyderabad.

Name of LenderUp to 30 Lakh RupeesAbove 30 Lakh to 75 Lakh RupeesAbove 75 Lakh Rupees
SBI8.5%-9.75%8.85% – 9.65%8.85% – 9.65%
HDFC8.45%-10.35%8.45% – 10.60%8.45% – 10.70%
LIC Housing Finance8.65%-10.10%8.65% –10.30%8.65% –10.50%
ICICI Bank9.00%-9.80%9.00%-9.95%9.00%-10.05%
Kotak Mahindra Bank8.90% onwards8.90% onwards8.90% onwards
PNB Housing Finance8.50%-14.50%8.50% – 13.00%8.50%-10.85%
Punjab National Bank8.85%-9.60%8.80%-9.50%8.80%-9.50%
Bank of Baroda8.90%-10.65%8.90% – 10.65%8.90% – 10.90%

Union Bank of India8.85%-10.75%8.85% –10.95%8.85% –10.95%
IDFC First Bank 8.85% onwards8.85% onwards8.85% onwards
L&T Housing Finance8.65%-8.75%8.65%-8.75%8.65%-8.75%
Bajaj Housing Finance8.75% onwards8.75% onwards8.70% onwards
Tata Capital8.95% onwards8.95% onwards8.95% onwards
Federal Bank8.60%-9.95%8.60%-10.00%8.60%-10.05%

Features of Home Loan.

  1. Home loans are generally offered @ 8.45% per annum. further in Hyderabad.
  2. Tenure is usually up to 30 years.
  3. LTV Ratio: 90% of the cost of the property.
  4. Pradhan Mantri Awas Yojana with credit linked interest subsidy of up to Rs 2.76 lakh for economically weaker sections, middle income groups and low-income groups.
  5. A top-up loan is offered on an existing home loan to meet the individual requirements of the borrower. 
  6. Home loan mortgage facility is also provided to verified home loan borrowers.
  7. Home loan balance transfer to verified home loan borrowers of other lenders at a lower rate of interest.
  8. Pre-approved instant loans are offered to select customers.
  9. no prepayment fees.

Eligibility Criteria for Home Loan in Hyderabad.

  • Applicants should be Indian Resident, PIO, NRI. Some lenders in Hyderabad also give NRI home loans to PIO and NRI applicants.
  • Age- Minimum: 21 Years
  • Maximum: Up to 70 years at the time of loan maturity.
  • Work Experience: Minimum 3 Years
  • Job Profile of the Applicant:
  • Salaried (Government & Corporate Professionals)
  • Self-employed non-professionals (contractors, traders, commission agents)
  • Self Employed Professionals (Doctor, CS, Lawyer, CA, Architect, Consultant, Engineer
  • Credit score- 750 and above for better chances of getting a home loan and at lower interest rates

Documents required for home loan in Hyderabad

For Salaried Applicants

  • KYC Documents:  Passport, Voter ID, PAN Card, Aadhaar Card, Driving License
  • Income Proof: Last 3 Months’ Salary Slip, Last 6 Months Bank Statement with Salary Credit, ITR/Form-16
  • Employment contract/appointment letter if the post is less than a year old
  • Bank statement showing loan repayment history
  • proof of own contribution
  • property documents
  • Check Processing Fee

Additional Documents for Self-Employed Applicants

  • Recent Form 26AS
  • Income proof: ITR with income computation of last 3 years
  • Savings Account statement of the individual for the last 6 months
  • business profile
  • Memorandum and Articles of Association of the Company
  • Current Account Statement of the Business Unit
  • Balance sheet and profit and loss account statement for the last 3 years

Types of Home Loans in Hyderabad:

There are many types of home loans available, but the following are some of the most popular:

Loan for new or used goods

It can be used by anyone who wants to buy new or old property. The most popular loan type is this. Fixed or floating interest rates are available.

loan for property construction 

This can be used by an individual if they want to build a house instead of buying an already constructed house. The cost of the land parcel being used will also be taken into consideration while sanctioning the loan.

loan for property expansion

Can be used by anyone who wants to increase their wealth.

Loan for Renovation or Home Improvement

Available to anyone looking to modify or renovate their home.

Lending to NRI

It can be used by Indians who are not residents to buy property in India.

loan against property

A loan against property is a secured loan in which real estate, residential or commercial, is obtained as security by the lender.

The home loan applicant can also access additional services including home loan top-up and loan transfer. The financial assistance provided by banks and other financial institutions for availing home loans in addition to their primary loan is known as home loan top-up.

Home loan balance transfer enables borrowers to transfer their loan from one financial institution to another in order to benefit from the benefits of the other institution.

How to apply for home loan in Hyderabad online

  • complete the application form
  • document verification
  • background investigation
  • How to get your credit report
  • Pay the processing fee.
  • assessment of repayment capacity
  • property document processing
  • disbursement of loans


How long does it take to obtain a home loan in Hyderabad?

It takes anywhere between 7 to 21 days to get a home loan in Hyderabad.

What is the home loan interest rate in Hyderabad?

Kotak Mahindra Bank provides the foremost home loan rates in Hyderabad, India. For salaried individuals, it is 8.3% per annum. further and 8.4% p.a. Further for self-employed people. To find out the exact interest rate applicable in your case, you can use an interest rate calculator.

What are the eligibility criteria for a home loan in Hyderabad?

● For Individuals: Age limit is 18 to 60 years for Salaried Employees and 18 to 65 years for Self Employed, Minimum income Rs. 15,000 per month and 2 years of work experience, bachelor’s degree for those employed with private firms ● For HUF: Minimum 3 years of existence and IT returns, net annual income should be Rs. 180,000 ● For Organizations: Must be in existence for at least 3 years with a net annual income of Rs. 180,000.

Which is the best option for a home loan?

SBI Home Loans is considered to be the best bank for home loans in India. State Bank of India home loans have some of the most striking and best home loan interest rates in India, starting from 8.55% per annum. The loan tenure extension possibility of up to 30 years guarantees comfortable repayment tenure.

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Today we have given you information Which Bank is Best for Home Loans in Hyderabad, compare home loan interest rates offered by various banks and HFCs in Hyderabad, Features of Home Loan, Eligibility Criteria for Home Loan in Hyderabad and all other information about it. We hope you like our information. If any questions or suggestions are in your mind, then you can ask in the comment section. 

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