About ROI

Online Housing Loan: Details


  • Home Loan is a secured loan taken to purchase a residential property or for home renovation, repairs or improvement.
  • Banks and NBFCs provide home loans upto 90% of the property value for a tenure upto 30 years.
Home Loan Rate Starts At6.50%
Processing FeeUp to 1% of loan amount
Loan Tenure30 years
Lowest EMI Per Lakh₹ 2,926
Prepayment ChargesNil foreclosure charges on floating rate home loans

Document Requirements for The Loan Application

Application Form

Signed Application form with photo.
Identity Proof - PAN card, Passport, Driving License, Aadhaar Card, Voter id, Govt issued i-card.

Address Proof

Any residence proof like Passport, Driving License, Election ID card, Electricity/ Telephone/ Mobile bill/ Bank statement (not more than 3 months old) etc.

Income Proof

Salary slip, bank statement of 6 months, Form 16 "Documents Related to Property"

As the name suggests, a home loan is an amount of money that is borrowed by an individual from either a money lending company or a bank at a certain rate of interest to be paid every month as an EMI. Some sort of property is taken as a security for the Home Loan.

Applying for home loan through My Loan Care is no complicated, you can easily get home loan from top banks and NBFCs at lowest rates. Along with reasonable rates and you can also check online all the eligibility for a home loan through My Loan Care home loan eligibility calculator.

Steps to how to apply for a home loan and all the procedures are explained below:

BANK/NBFCsROIEMI per lac for 30 yrs


Kotak Bank6.50%632
Bank of Baroda6.50%632
HDFC Bank6.55%635
Axis Bank6.70%645
ICICI Bank6.70%645
Federal Bank6.70%645
Punjab & Sind Bank6.70%645
IDFC First Bank6.80%652
Indian Overseas Bank6.80%652
Karur Vysya Bank6.90%659
Yes Bank7%665
Jammu & Kashmir Bank7%665
DCB Bank8%734
Ujjivan Small Finance Bank9%805
Au Small Finance Bank9%805
Utkarsh Small Finance Bank9.50%841
Jana Bank10%878
LIC Housing Finance6.66%642
GIC Housing Finance7.65%709
PNB Housing Finance6.90%658
TATA Capital Home Finance6.90%658
Indiabulls Home Loans8%733
Bajaj Home Finance6.80%651
Shriram Housing Finance10%877
IIFL Home Loans7.50%699
Hero Housing Finance9%804
Capri Home Loans9.50%840
Capital India Home Loans11.50%990
Piramal Capital and Housing Finance10.50%914
India Shelter Housing Finance12.50%1068
Vaastu Housing Finance11.50%990
Aadhar Housing Finance12%1028
LT Housing Finance6.80%651

Step 1: Eligibility Check and EMI Calculations:

After checking your loan amount eligibility, you can check your monthly EMI amount using home loan EMI calculator.


Step 2: Checking Legal Documents and Property Approval Status:

To ensure authenticity pf the documents, you can shortlist the banks that provides you the loan on your property. Make sure your property registration documents are accurate and approved.


Step 3: Decide the home loan interest rate type:

Either a floating or fixed interest rate is offered by most of the banks. In fixed interest rate, the rates remain constant during the loan tenure whereas in floating home loan the rates get changed with respect to external benchmark.


Step 4:  Comparing Shortlisted Banks:

You can compare home loan interest rates of all bank and NBFCs at an online marketplace like My Loan Care. along with it you can also check processing fee, prepayment charges and any other applicable cost on provided loan. After comparing all the rates and charges within shortlisted banks, you can reduce the options to hardly 2-3 banks accordingly.


Step 5: Bank Selection based on service parameters:

Finally, as you decide the best service and other parameters (like turnaround time, quick loan delivery, doorstep services, transparency in loan process) among your chosen banks, also read reviews of pre-existing customers on the specific bank service, interest rate and others. Thus, make you decision to borrow the loan from your perfect chosen bank.


Housing Loan

A home loan is a credit facility provided by banks, housing finance companies and NBFCs to buy or construct a home by keeping the house as collateral. Most of the banks finance loans up to the maximum limit of 90% of the property’s value, against the mortgage of underlying house as security.