Find the perfect home loan tailored to your needs in India. Competitive interest rates from leading Indian banks, flexible repayment options, and hassle-free processing. Get benefits under PMAY and other government schemes. Turn your dream of homeownership into reality with MoneyKarma.
Compare the latest interest rates from top Indian banks to find the best home loan for your needs. Our rates are updated daily as per RBI guidelines.
Last updated: Today, 10:30 AM
HDFC Bank Home Loan
8.50% - 9.25%
0.15%State Bank of India (SBI)
8.75% - 9.50%
0.10%ICICI Bank Home Loan
8.60% - 9.35%
0.05%A home loan from MoneyKarma offers more than just financing – it's your pathway to homeownership in India with benefits designed to make your journey smooth and rewarding. Whether you're looking for a 1BHK in Mumbai or a villa in Bangalore, we have solutions for you.
Getting a home loan with MoneyKarma is straightforward and hassle-free across India. Our digitized process works efficiently in metros like Mumbai, Delhi, and Bangalore, as well as in tier 2 cities like Pune, Jaipur, and Lucknow. Get from application to approval quickly with minimal branch visits.
Find the perfect home loan type that aligns with your financial situation and property goals. From apartments in Delhi NCR to independent houses in Chennai, we have solutions for all property types in India.
Lock in your interest rate for the entire loan term. Ideal for budget-conscious Indian families who prefer predictable monthly EMIs regardless of RBI policy changes and market fluctuations. Perfect for salaried professionals in metros like Mumbai, Delhi, and Bangalore.
Interest rates that fluctuate based on market conditions, typically linked to the RBI's repo rate or treasury bills. Popular among financially savvy borrowers in India. Often start lower than fixed rates but may change with RBI policy updates. Beneficial during decreasing interest rate cycles.
Transfer your existing home loan from another lender to MoneyKarma to take advantage of lower interest rates, better service, and additional benefits.
Finance the construction of your dream home on a plot of land you already own. Disbursed in stages based on construction progress.
Specially designed home loans for Non-Resident Indians living in USA, UK, UAE, Singapore, Australia and other countries looking to purchase property in India. Features FEMA-compliant documentation, NRO/NRE account options, and digital processing tailored for overseas applicants. Popular for investment properties in Bangalore, Pune, Hyderabad, and Gurgaon.
Finance improvements, repairs, or extensions to your existing home in India. Popular for adding floors to independent houses or modernizing older apartments in cities like Mumbai, Delhi, and Kolkata. Enhance your living space and potentially increase your property's value by 15-20%.
Check if you qualify for a home loan with MoneyKarma in India. We follow RBI guidelines and have partnerships with over 30+ banks and NBFCs across the country. Here are the key eligibility factors we consider.
Minimum 21 years at the time of loan application and maximum 70 years at loan maturity
Minimum income requirements vary based on loan amount and location (typically ₹25,000+ per month for salaried individuals in metros, ₹20,000+ in tier 2 cities). Income verification through Form 16, ITR and bank statements.
Salaried: Minimum 2 years of work experience with at least 1 year with current employer. IT, BFSI, and PSU employees may get preferential rates.
Self-employed: Business vintage of at least 3 years with stable GST returns and banking history
Minimum CIBIL/Experian/CRIF Highmark score of 700+ for best rates. Scores above 750 qualify for premium offerings with up to 0.5% interest rate benefit and lower processing fees
The property should have clear title, RERA registration (for new properties), necessary approvals from local authorities, and be free from legal disputes. We assist with legal verification across India.
Aadhaar Card (mandatory), PAN Card (mandatory), Voter's ID, Driving License, or Passport. eKYC verification available for faster processing.
Aadhaar Card, Utility Bills (not older than 3 months), or Passport
Salaried: Last 3 months' salary slips, Form 16, 2 years' ITR
Self-employed: 3 years' ITR, financial statements, business proof
Last 6 months' bank statements from all active accounts
Sale deed, property registration, approved building plan, NOC from builder/society, property tax receipts
Getting your home loan approved is quick and hassle-free with our streamlined application process. We offer doorstep service in 100+ cities across India, from metros to tier 3 towns.
Fill out our simple online application form with your personal, employment, and property details. Takes just 10 minutes with Aadhaar and PAN-based verification! Available in 12 Indian languages including Hindi, Tamil, Telugu, and Bengali.
Upload required documents through our secure portal or use our doorstep document collection service available across Delhi NCR, Mumbai MMR, Bangalore, Chennai, Hyderabad, Pune, and 45+ other Indian cities. Our team verifies your information and property details with advanced OCR technology.
Receive in-principle approval within 24-48 hours. Final approval and disbursement after property and legal verification.
Hear from our customers across India who have successfully secured home loans and fulfilled their dreams of homeownership. From first-time buyers to property investors, these stories showcase how we've helped Indians from various walks of life.
First-time homebuyer success in Mumbai
"As first-time homebuyers in Mumbai's competitive market, we were nervous about the whole process and rising property prices. MoneyKarma made it incredibly simple. Their team guided us through each step, helped us understand the paperwork, secured us a great interest rate of 8.5%, and even suggested we apply for the PMAY scheme which saved us ₹2.67 lakhs! We moved into our dream 2BHK in Andheri East within 45 days of applying!"
Seamless balance transfer from Bangalore
"I was paying a high interest rate of 10.25% on my existing home loan for my 3BHK in Whitefield from another bank. MoneyKarma helped me transfer my loan to SBI and reduce my interest rate by 1.75%! The process was smooth, their team handled all the paperwork including NOC and property documents. I'm saving over ₹12,500 per month on my EMI now and was able to reduce my loan tenure by 5 years without increasing my EMI!"
The loan amount depends on your income, age, credit score, employment stability, and existing financial obligations. Typically, you can get a home loan of up to 80-90% of the property value (LTV ratio) as per RBI guidelines. For a property worth ₹1 crore, you can get between ₹80-90 lakhs depending on your profile. Our home loan eligibility calculator can give you a personalized estimate based on your profile, city, and property type.
The maximum tenure for a home loan is typically 30 years. However, the actual tenure you're eligible for depends on your age. The loan should be fully repaid before you reach 70 years of age. Longer tenures mean lower EMIs but higher overall interest costs.
Home loans offer several tax benefits under the Indian Income Tax Act:
1. Under Section 24(b), you can claim a deduction of up to ₹2 lakh per year on the interest paid for a self-occupied property. For let-out properties, the entire interest is deductible.
2. Under Section 80C, you can claim a deduction of up to ₹1.5 lakh per year on the principal repayment.
3. First-time homebuyers can get an additional deduction of up to ₹50,000 under Section 80EE if loan was sanctioned between April 2016 and March 2017.
4. Under Section 80EEA, first-time homebuyers can claim an additional deduction of up to ₹1.5 lakh for loans sanctioned between April 2019 and March 2022 for affordable housing.
5. Joint home loan holders can each claim these deductions separately, maximizing the tax benefit for families.
Yes, you can get a home loan for an under-construction property in India. The loan disbursement happens in stages as per the construction progress. During the construction phase, you typically pay only the interest component (pre-EMI) on the disbursed amount. Full EMI payments start after complete disbursement or when you take possession of the property. For RERA registered projects, banks offer better rates and higher LTV ratios. We recommend checking the builder's RERA registration, construction timeline, and past project delivery record before applying.
Several government schemes make home loans more affordable in India:
1. Pradhan Mantri Awas Yojana (PMAY): Offers an interest subsidy of up to ₹2.67 lakhs for first-time homebuyers in the EWS, LIG, and MIG categories. The subsidy is available for loans up to ₹35 lakhs depending on your income category.
2. Credit Linked Subsidy Scheme (CLSS): Part of PMAY, offering interest subsidies based on annual household income brackets.
3. NHB Refinance Scheme: Provides refinancing options through housing finance companies.
4. Special schemes for women homeowners: Many banks offer 0.05% to 0.10% interest rate concessions for women borrowers.
5. Rural Housing Fund (RHF): For properties in rural areas, offering subsidized interest rates.
MoneyKarma can help you identify which schemes you qualify for and assist with the application process.