Experience unmatched convenience

Welcome to the world of hassle-free home loans! In the vibrant landscape of the Indian real estate market, securing the perfect home loan is an essential step toward realizing your dream home.

Our trusted partners, leading Banks, and Housing Finance Companies (HFCs) are here to make your dream a reality. Avail home loans ranging from 75% to 90% of your property's value, tailored to match your unique credit profile. The Loan-to-Value (LTV) ratios adhere to the guidelines set by both lenders and the Reserve Bank of India (RBI), ensuring a seamless borrowing experience.

What's more, enjoy flexible tenures stretching up to 30 years, with Bajaj Housing Finance offering an impressive maximum tenure of up to 40 years.

Switchmyloan.in serves as your digital gateway to a world of possibilities. Our platform empowers you to effortlessly compare housing loan interest rates and explore the distinctive features provided by top-tier banks and HFCs.

Applying online has never been easier, allowing you to secure the best-suited option based on your credit profile. Embark on your homeownership journey with confidence. Choose Switchmyloan.in for a simplified and streamlined home loan application process. Your dream home awaits, and we're here to make it happen.

Start your online application today and take the first step towards the home of your dreams.

,

EMI Amount

0

Interest Payable

0

Total

0
Apply for New Loan
bank_logo

Canara Bank Home Loan

Interest Rate Range

8.55% p.a. to 11.75% p.a. (Floating Rate)% p.a. onwards

Processing Fee Range

0.50% (min. Rs.1,500; max. Rs.10,000) (Processing Fee)

Loan Amount

Rs.1 lakh – Rs.3 crore

bank_logo

PNB Housing Finance Limited

Interest Rate Range

8.50% p.a. to 11.25% p.a. (Floating Rate)% p.a. onwards

Processing Fee Range

pf 5k gst,

Loan Amount

no restrict

bank_logo

Union Bank Home Loan

Interest Rate Range

8.35% psu employee, 8.50% cibil should be more than 750 and above salaried and self employed roi is same % p.a. onwards

Processing Fee Range

0.50% or ₹15,000 Maximum (Processing Fee) which ever lower

Loan Amount

Retirement age 60 yrs, salaried & self employed same max 30 yrs

bank_logo

Kotak Mahindra Bank Home Loan

Interest Rate Range

8.65% without insurance & with insurance roi will be 8.60% ( applied For salaried & self employed)% p.a. onwards

Processing Fee Range

salaried 10k gst self 0.25 gst

Loan Amount

Loan Amt from 50 lac to max, retirement age will be 60, salried 30, self employed 15 max to max 20 yrs

bank_logo

IDFC Bank Home Loan

Interest Rate Range

8.75% p.a. TO 9.5% p.a. for Salaried & self-employed (Floating Rate)% p.a. onwards

Processing Fee Range

Salaried 0 .25 & for self employed 0.5 of the loan amt INITIAL FEES OF RS 3500

Loan Amount

Retirement 60yrs, Salaried 30 YRS Self employed 25 yrs max age 70

bank_logo

DBS Bank Home Loan

Interest Rate Range

8.35% salaried & self employed % p.a. onwards

Processing Fee Range

₹ 10000+ taxes (Processing Fee). Initial 5k gst

Loan Amount

Up to ₹ 5Crs, salaried 25 yres self 20 yrs

bank_logo

Axis Bank Home Loan

Interest Rate Range

ROI 8.70% to % p.a. onwards

Processing Fee Range

Up to 1% (Processing Fee)

Loan Amount

₹ 10L -₹ 5Crs

bank_logo

HDFC Limited Home Loan

Interest Rate Range

8.40 % Salaried self emplyed 8.50% if 800 cibil 8.35 % % p.a. onwards

Processing Fee Range

1770 rs uptill 20 jan, 1500 gst pf feesfor salaried self employed 2665

Loan Amount

sef employed 20 yrs salmax 30 ,no restriction loan amount

bank_logo

Sundaram Home Finance Limited Home Loan

Interest Rate Range

8.75% p.a. onwards (based on CIBIL score)% p.a. onwards

Processing Fee Range

Contact the bank for details

Loan Amount

₹ 1L -₹ 4Crs

bank_logo

Karnataka Bank Home Loan

Interest Rate Range

8.40% Salaried & self employed same rate of interest % p.a. onwards

Processing Fee Range

NIL pf Charges

Loan Amount

No restriction for loan amt, Tenure max 30 yrs

bank_logo

LIC HFL Home Loan

Interest Rate Range

Salaried & professionals - 8.35 % to 9.9% self employed -8.60% to 10%% p.a. onwards

Processing Fee Range

Initial PF - 5900/-
PF for loan amount
Upto 1 Cr. - 0.25% of Loan Amt max till 15,000 + GST
Btw 1 Cr. To 2 Cr. - 20,000 + GST
Btw 2 Cr. To 5 Cr. - 25,000 + GST
Above 5 Cr. Till 15 Cr. - 50,000 + GST

Loan Amount

Salaried 30 years, self employed 25 yrs.

bank_logo

Bank of Maharashtra Home Loan

Interest Rate Range

8.35 % salaried ,8.60% for self employed (Floating Rate)% p.a. onwards

Processing Fee Range

NIL pf charges

Loan Amount

No restriction for loan amt, tenure upto 30 yeas( this will be applicable for salaried and for self employed both)

bank_logo

Aditya Birla Housing Finance Limited Home Loan

Interest Rate Range

9.35 % salaried 9.60 self employed% p.a. onwards

Processing Fee Range

Initial pf 1200 rs. For salaried 0.50, For self employed 0.75

Loan Amount

Loan amt Starts from 10 Lac to 1 cr, tenure For salaried 60 For self employed 70 years

bank_logo

Indiabulls Home Loan

Interest Rate Range

salaried 8.75% sef employed 9.35%% p.a. onwards

Processing Fee Range

PF charge rs 550 for salaried & 1180 rs

Loan Amount

5 lac to 5cr, salaried uptill 65 yrs self employed 80yr

bank_logo

State Bank of India Home Loan

Interest Rate Range

8.4% For ready to move & resale Property for under construction ROI will be 8.6.( The ROI will be same for the salaried & self employed% p.a. onwards

Processing Fee Range

under Construction 5900,NIL fees for Ready to move & resale property BT cases

Loan Amount

No restriction On loan amt , for salaried age 60 years and 70 years for self employed, ( tenure depend on client age)

bank_logo

Bank of Indian Home Loan

Interest Rate Range

8.3 % for BT Cases and 8.4 % fresh Cases % p.a. onwards

Processing Fee Range

PF charge is Nil, For legal & technical they charge 15 k

Loan Amount

For Resale case 25 years , builder purchase 30 years, no capping for Loan amt

bank_logo

Bajaj Housing

Interest Rate Range

8.5% for salaried & 8.7% for self employed( ROI depend on cibil & loan amt)% p.a. onwards

Processing Fee Range

NIL pf charges

Loan Amount

below the age of 30 , they provide max to max 40 years, minimum loan amt 30 lac to 5cr

bank_logo

ICICI HFC

Interest Rate Range

9 % salaried 9.5 Self employed% p.a. onwards

Processing Fee Range

1% on loan amt

Loan Amount

no restriction for loan amt ,tenure max 30 years

High Quantum Financing: Secure a home loan with a maximum quantum of up to 90% of the property market value, providing substantial financial assistance for your housing needs.
Extended Repayment Tenure: Enjoy the flexibility of a prolonged repayment tenure, with the option to spread payments over a maximum of 360 months, ensuring a comfortable and manageable repayment schedule.
Moratorium and Holiday Periods: Benefit from a moratorium or holiday period of up to 36 months, allowing you to plan your finances effectively and providing temporary relief from immediate repayment obligations.
Affordable EMI Structure: Start your Equated Monthly Installments (EMI) at a competitive rate, with payments as low as Rs. 755 per lakh, ensuring affordability and financial ease.
Consideration of Co-Applicant Income: Leverage the income of a co-applicant, preferably a close relative, to enhance your eligibility for the home loan, making it more accessible.
Smart Home Loan Options: Explore Smart Home Loan options with an Overdraft (OD) facility covering the entire limit or outstanding balance at the Home Loan rate of interest.
Diverse Usage Facilities: Utilize the loan for various purposes, including purchasing a plot (with a condition to construct within 5 years), extending or renovating existing property, furnishing the house, or even installing solar PV systems.
Top-Up Loan and Balance Transfer: Avail of instant top-up loans and the convenience of balance transfer facilities, providing additional financial support and better terms for your existing home loan.
Inclusive Insurance Coverage: Include insurance premiums in the project cost, treating it as a component of the home loan, ensuring comprehensive coverage and financial security.
Flexible EMI Options: Opt for step-up or step-down EMI facilities, allowing adjustments in EMI amounts over time to suit your evolving financial capacity.

    Home Loans for NRIs:

  • Catering to the housing needs of Non-Resident Indians (NRIs), including Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs).
  • Tailored for those seeking funds to extend or add space to their current residence.
  • Lenders typically offer 75% to 90% of the construction estimate, based on the loan amount and Loan-to-Value (LTV) ratio.
  • Home Saver Loan:

  • Functions as a home loan overdraft, linking the borrower home loan account to their bank account.
  • Any amount deposited beyond the Equated Monthly Installment (EMI) is considered a prepayment, leading to savings on interest.

Competitive Interest Rates:

Benefit from SwitchMyLoan attractive interest rates, ensuring your home loan is not only affordable but also provides long-term cost savings.

Transparent Fee Structure:

Enjoy a transparent fee structure with no hidden charges. SwitchMyLoan ensures clarity, making your home loan experience straightforward and hassle-free.

Customized Repayment Options:

Tailor your repayment plan to match your financial needs. SwitchMyLoan offers flexibility, allowing you to manage EMIs in alignment with your budget.

Expert Guidance:

Access expert legal and technical counseling to make informed decisions. SwitchMyLoan assists you in navigating the complexities of home buying, ensuring a secure investment.

Quick and Efficient Processing:

Experience quick and hassle-free loan processing. As a marketplace of home loans, SwitchMyLoan prioritizes efficiency, from application to fund disbursement, for a seamless borrowing experience.

Nationality Indian Residents, Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs)
Credit Score Preferably 650 and above
Minimum Age 18 years (Some lenders set the minimum age at 21 years)
Maximum Age Usually 70 years at the time of loan maturity (Tenure may extend till 75 years with some lenders)
Work Experience At least 2 years for salaried individuals
Business Continuity At least 3 years for self-employed individuals
Minimum Salary and Income At least Rs. 25,000 per month (Varies across lenders and locations) abd 4-5 Lakhs
Loan Amount Up to 90%* of the Agreement value
Particulars Charges
Processing Fee 0.2% – 2%* of loan amount
Foreclosure/Prepayment Charges - For floating rate: Nil
- For fixed rate: Around 2% – 4% on the principal outstanding
EMI Bounce Charges Around Rs 750*
Legal Fee As per Actuals
Valuation Fees As per Actuals
Notice of intimation/registration charges as per state norms
Stamp duty as per state norms

Home loan borrowers are entitled to attractive tax benefits under different sections of the Income Tax Act, providing a substantial annual savings opportunity. Explore the following home loan tax benefits associated with your EMI payments:

Section of Income Tax Act Nature of Home Loan Tax Deduction Max. Tax Deductible Amount
Section 24(b) Interest paid Rs. 2 lakh
Section 80C Principal (including stamp duty and registration fee) Rs. 1.5 lakh
Document Individual Self Employed Professional Self Employed non-professional
Application Form with Photographs duly signed ü ü ü
Identity Proof PAN card
Passport
Driving Licence
Voter ID card
Job card issued by NREGA
PAN card
Passport
Driving Licence
Voter ID card
Job card issued by NREGA
PAN card
Passport
Driving Licence
Voter ID card
Job card issued by NREGA
Address Proof Passport
Driving Licence
Voter ID card
Job card issued by NREGA
Passport
Driving Licence
Voter ID card
Job card issued by NREGA
Passport
Driving Licence
Voter ID card
Job card issued by NREGA
Proof of Income Latest 6 months bank statement from salary account Latest 6 months bank statement from salary account Latest 6 months bank statement from salary account
Latest 3 months salary slips NA NA
Form 16 / Income Tax Returns Income Tax Returns Income Tax Returns
NA Educational Qualification certificate NA
NA Latest 3 years Financial
- Computation of Income
- Balance Sheet and Profit & Loss Account (with schedules and Audit Report)
Latest 3 years Financial
- Computation of Income
- Balance Sheet and Profit & Loss Account (with schedules and Audit Report)
Office address Proof NA ü ü
Proof of business stability / existence NA ü ü
Business profile NA ü ü
Repayment Track Report (RTR) for existing loans for last 12 months ü ü ü
Property Documents ü ü ü
Processing fee Cheque ü ü ü

OTHER ADDITIONAL DOCUMENT FOR ENTITY

Partnership Limited Liability Co. Pvt. Ltd. Co.
  • Pan Card
  • Partnership Deed
  • List of partners with profit sharing ratios - certified by all partners
  • Partners - KYC as applicable for individuals
  • Registration Certificate
  • Address Proof
  • Pan Card
  • LLP Agreement
  • Certificate of Incorporation
  • LLP Board Resolution
  • Address Proof
  • Sharing Holding Structure
  • Authorized Signatories & Beneficial Owners KYC as applicable for individuals
  • Pan Card
  • MOA and AOA
  • List of Directors / Certified by CA / CS
  • Share holding patters - Verified by CA / CS
  • Board Resolution
  • Certificate of Incorporation
  • Address Proof
  • Authorized Signatories & Beneficial Owners KYC as applicable for individuals

Documents Required from all Non-Resident Indians (NRIs) Applicants

Identity Proof (any one) Residence Proof (any one) Other Documents
PAN Telephone bill - Attested copy of the applicant’s/co-applicants’/guarantor’s valid passport and visa - Proof of residence indicating the applicant’s current overseas address - Employer Identity Card - If the applicant is employed in the Merchant Navy, the applicant is required to submit a copy of Continuous Discharge Certificate (CDC)
Valid Passport Electricity bill - PIO Card issued by the Government of India in case the applicant/co-applicant is a Person of Indian Origin (PIO). - Driving License - The completed loan application form duly filled with three passport size photographs of the applicant and co-applicants.
Driver’s License Water bill - Aadhaar Card - The attestation of the documents can be done by:
1. Indian Embassy/Consulate
2. Overseas Notary Public
3. FOs/Representative Offices
4. Officials of Branch/Sourcing Units based in India
Voter ID Card Piped Gas bill
Aadhaar Card
Valid Passport

(A) FIRST PURCHASE FROM THE BUILDER:

  1. Original registered agreement for sale between applicant and the Builder, along with index II, extra and original registration fee paid receipt.
  2. NOC from the Builder to mortgage the flat in the name of Bank of India (Specimen No 1)
  3. Development agreement between owner of the land and the builder.
  4. Power of attorney given by land owner to the builder for carrying on the construction work.
  5. NA order from Collector
  6. Ceiling Orders if any (order u/s 8(4), 20/21/22 of ULC Act. Order/permission u/s 26 of ULC Act.
  7. Commencement certificate from Municipal Corporation
  8. Sanction building plan from Collector/Town Planning Authority
  9. Copy of Title Report by builder advocate.
  10. Stamped receipts in respect of payment made to the builder
  11. Any other documents as may be found necessary by the Bank advocate for legal scrutiny.
  12. A brief write-up on the builder/promoter detailing their experience in executing projects with property details

(B) RESALE OF FLAT IN A CO_OPERATIVE SOCIETY:

  1. Original agreement for sale between applicant and vendor
  2. Up-to-date tax paid receipt.
  3. Original share certificate and/or allotment letter (applicable for co-op. housing society)
  4. Society registration certificate
  5. NOC from society to resale and to admit you as a member and permission to mortage (As per speciment No. 2)
  6. Valuation certificate from our approved Architect
  7. All the documents of Vendor as mentioned above vide item A
  8. Blank transfer forms

(C) RESALE OF FLAT WHERE SOCIETY IS YET TO FORMED:

  1. Original agreement for sale between applicant and vendor
  2. Latest tax paid receipt
  3. NOC from the Builder to mortage the flat in the name of Bank of India-in our format (Specimen No. 1)
  4. Valuation certificate from our approved Engineer/Architect
  5. All the documents of vendor as mentioned in above item (A)

(D) FLAT/HOUSE ALLOTED BY DEVELOPMENT AUTHORITY (MHADA etc.):

  1. Allotment Letter
  2. NOC from MHADA to mortage the property in favour of Bank of India.
  3. Receipts for the payments made to Development Authority.
  4. Scheduled for Payment.
  5. True copy of sanctioned plan
  6. Registered Lease Deed in case construction plot is alloted by MHADA along with Registration Receipt.
  7. Commencement Certificate.

(E) CONSTRUCTION ON FREEHOLD LAND:

  1. Registered Sale Deed and Original Registration Receipt.
  2. NA Order from Collector
  3. Latest 7/12 Extract/index II/Property register extract and pherphar extracts.
  4. Commenecement Certificate from the Corporation.
  5. Sanction Building Plan from Collector/Town planning authority.
  6. Celling order if any (order u/s 8(4), us 20/21/22 of ULC Act, Order permission uls 20 of ULC Act
  7. Detailed estimate of construction cost.

(F) In case of repair/renovation/extension, full details of existing property, details of repairs/renovationviextension proposed to be carried out and estimated expenses. The estimates from an architect with Architects Association or on banks panel should be accompanied

Incomplete or missing documents can result in rejection.

Ensure accurate submission of all required documents, including identity proof, residence proof, income proofs, and property papers.

Seek assistance from the bank customer relationship executives for a seamless documentation process.

Reapplying for a home loan demands a thoughtful and strategic approach. By addressing specific reasons for the initial rejection, such as improving your credit score and aligning the loan amount with eligibility, you can significantly enhance your chances of a successful application.

1. What is a home loan?

A home loan, also known as a housing loan or mortgage, is a financial product that enables individuals to purchase or refinance residential properties by borrowing funds from a lending institution.

2. How does the home loan process work?

The home loan process involves applying for a loan, submitting required documents, property valuation, credit evaluation, loan approval, and disbursal. The borrower then repays the loan through Equated Monthly Installments (EMIs).

3. What factors affect home loan eligibility?

Key factors include income, credit score, employment history, existing debts, and the value of the property being financed.

4. What are the current home loan interest rates?

Interest rates vary among lenders and loan types. Its crucial to compare rates offered by different banks and financial institutions.

5. How is the EMI calculated?

EMI (Equated Monthly Installment) is calculated based on the loan amount, interest rate, and tenure. Use online EMI calculators for accurate estimations.

6. Can I apply for a home loan online?

Yes, most lenders offer online application facilities, making the process convenient and efficient.

7. What documents are required for a home loan application?

Common documents include identity proof, residence proof, income documents, property papers, and bank statements.

8. How long does it take for a home loan to get approved?

The approval time varies, but it typically takes a few weeks, depending on the lenders processing speed.

9. What is the difference between fixed and floating interest rates?

Fixed rates remain constant throughout the loan tenure, while floating rates fluctuate based on market conditions.

10. Can I transfer my home loan to another lender?

Yes, you can transfer your home loan to another lender through a balance transfer process.

11. What is the importance of a co-applicant in a home loan?

A co-applicant increases loan eligibility by combining their income and creditworthiness with the primary applicant.

12. Are there tax benefits associated with home loans?

Yes, borrowers can avail tax benefits under sections like 24(b) and 80C of the Income Tax Act.

13. How does the loan foreclosure process work?

Loan foreclosure involves repaying the entire outstanding amount before the scheduled tenure, often subject to specific charges.

14. What is the role of home insurance in a home loan?

Home insurance protects the property, and some lenders make it mandatory for borrowers.

15. Can I prepay my home loan?

Yes, you can prepay your home loan, either partially or in full, but it may attract prepayment charges.

16. What is the tenure extension option in a home loan?

Tenure extension allows borrowers to increase the loan repayment period, thereby reducing EMIs.

17. How is home loan interest calculated?

Interest is calculated on the outstanding principal amount, and its crucial to understand the method used by the lender.

18. What are the charges associated with loan processing?

Loan processing charges typically range from 1% to 2% of the loan amount, varying among lenders.

19. What is the loan amortization schedule?

An amortization schedule provides a detailed repayment plan, outlining each EMIs principal and interest components.

20. Can I negotiate the home loan interest rate?

Yes, borrowers can negotiate with lenders for a competitive interest rate, especially if they have a strong credit profile.

21. What are the benefits of refinancing a home loan?

Refinancing can help lower interest rates, reduce EMIs, and provide better terms, improving overall loan affordability.

22. How often can I access customer service for my home loan?

Most lenders offer customer service support during business hours, and some provide 24/7 assistance.

23. What is a home loan top-up?

A home loan top-up is an additional loan amount sanctioned over and above the existing home loan, often at attractive rates.

24. How does a balance transfer calculator work?

A balance transfer calculator helps assess potential savings by moving a home loan to another lender with better terms.

25. What should be included in a home loan documentation checklist?

Essential documents include ID proof, residence proof, income statements, property papers, and other lender-specific requirements.

Q1: What is the maximum quantum of financing offered for home loans?

Switchmyloan provides a maximum financing of up to 90% of the propertys market value.

Q2: What is the repayment tenure available for home loans?

Enjoy an extended repayment tenure, with the flexibility to spread payments over a maximum of 360 months.

Q3: Is there a moratorium or holiday period available?

Yes, you can benefit from a moratorium or holiday period of up to 36 months to plan your finances effectively.

Q4: What is the starting EMI for home loans?

EMIs start at a competitive rate of Rs. 755 per lakh, ensuring affordability and financial ease.

Q5: Is the income of a co-applicant considered for eligibility?

Certainly, the income of a co-applicant, preferably a close relative, is considered to enhance your eligibility.

Q6: Are there Smart Home Loan options available?

Yes, explore Smart Home Loan options with an Overdraft (OD) facility covering the entire limit or outstanding balance at the Home Loans rate of interest.

Q7: Can the home loan be used for various purposes?

Absolutely, the loan can be utilized for purchasing a plot, extending or renovating existing property, furnishing the house, or installing solar PV systems.

Q8: Is there a facility for top-up loans and balance transfer?

Yes, avail of instant top-up loans and the convenience of balance transfer facilities for additional financial support and better terms.

Q9: Are insurance premiums included in the loan?

Certainly, insurance premiums can be included in the project cost, treating it as a component of the home loan.

Q10: Are there flexible EMI options available?

Yes, you can opt for step-up or step-down EMI facilities, allowing adjustments in EMI amounts over time to suit your evolving financial capacity.

Home Loans for your diverse needs

Home Loan

  • For purchasing a ready to move-in or under-construction property
  • Up to 95% of the property market value

Home Construction Loan

  • Loan for building a house on pre-owned land
  • Disbursed in installments based on construction stages

Home Extension / Improvement Loan

  • Loan for adding a room or making a structural change
  • Funding up to Rs. 50 Crores

Home Loan Balance Transfer

  • Switch to reduce your interest rate and EMIs / loan tenure
  • In addition, get a top-up on your existing loan

Let’s start your journey