Below is a quick summary of the prevailing interest rates for home loans in Chennai, which is aimed at empowering prospective clients to make well informed decisions.
Click to Apply Home LoanLender | Home Loan Interest Rates In Chennai | Processing Fees & Charges | Maximum Loan Amount | Maximum Loan Tenure |
---|---|---|---|---|
Aavas Financier Limited Home Loan | 8% | 2% | - | 30 Years |
Aditya Birla Capital Home Loan | 9% - 12.50% | 1% | 10 Crores | 30 Years |
Andhra Bank Home Loan | 8.15% - 9.20% | 0.50% or ₹15000 + GST (whichever is lower) | - | 30 Years |
Axis Bank Home Loan | 8.75% - 14% | 1% | 10 Crores | 30 Years |
Bank of Baroda Home Loan | 8.50% - 10.60% | 0.25%- 0.50% | 10 Crores | 30 Years |
Bank of India Home Loan | 7.80% - 9.65% | - | 7.50 Crores | 30 Years |
Bank of Maharashtra Home Loan | 8.40% | 0.25% or 25,000 (whichever is lower) | 1 Crore | 30 Years |
Canara Bank Home Loan | 8.85%- 11.25% | ₹1,500 - ₹10,000 | 3 Crores | 30 Years |
Central Bank of India Home Loan | 8.45% - 9.20% | 0.50% or ₹20,000 + GST (whichever of lower) | 75 Lakhs | 30 Years |
DBS Home Loan | 8.25% - 9.75% | - | 5 Crores | 25 Years |
Dena Bank Home Loan | 8.25% - 8.35% | 0.50% | 1.5 Crores | 30 Years |
Dhanalakshmi Bank Home Loan | 7.2% | 1% or ₹10,00 + GST (whichever is higher) | 1 Crore | 30 Years |
DHFL Home Loan | 8.75% | - | 5 Crore | 30 Years |
Federal Bank Home Loan | 10.15% - 10.30% | - | 15 Crores | 30 Years |
HDFC Ltd. Home Loan | 8.50% - 9.60% | 0.50% or ₹3000 (whichever is higher) | 10 Crores | 30 Years |
IDBI Bank Home Loan | 8.75% - 11.45% | - | 10 Crore | 30 Years |
IDFC First Bank Home Loan | 8% - 14% | 3% | 10 Crores | 30 Years |
Indiabulls Home Loan | 8.75% | 1% | 2 Crores | 30 Years |
Indian Overseas Bank Home Loan | 9.55% | - | - | 30 Years |
India Shelter Finance Corporation Home Loan | 13% - 20% | 2% - 3% + GST | 50 Lakhs | 20 Years |
Jammu and Kashmir Bank Home Loan | 8% | 0.25% + GST | 50 Lakhs | 30 Years |
Karnataka Bank Home Loan | 9.08% - 10.38% | 0.50% - 2% | 5 Crores | 30 Years |
Karur Vysya Bank Home Loan | 9.23% - 12.13% | ₹2500 - ₹7500 + GST | - | 25 Years |
Kotak Mahindra Bank Home Loan | 8.85% - 9.40% | 0.50% | 10 Crores | 20 Years |
LIC HFL Home Loan | 8.70% | 0.30% onwards | 10 Crores | 30 Years |
PNB Housing Home Loan | 8.50% - 10.85% | - | 2 Crores | 30 Years |
Reliance Home Finance Limited Home Loan | 9.35% - 13% | 0.50% - 1.50% | - | 20 Years |
South Indian Bank Home Loan | 7.95% - 9.60% | 0.50% + GST | 15 Crores | 30 Years |
State Bank of India Home Loan | 9.55% | ₹2000 - ₹10000 + GST | 5 Crores | 30 Years |
Sundaram Home Finance Ltd Home Loan | 6.95% - 8.30% | 0.50% | 4 Crores | 25 Years |
Tamilnad Mercantile Bank Home Loan | 9.10% - 9.60% | 0.50% | 5 Crores | 30 Years |
Tata Capital Limited Home Loan | 8.95% | 2% | 5 Crores | 30 Years |
Union Bank Home Loan | 8.75% | 0.50% or ₹15000 + GST (whichever is lower) | - | 30 Years |
Yes Bank Home Loan | 9.15% - 11.25% | 1.5% - ₹10000 (whichever is higher) | 10 crores | 35 Years |
In order to qualify for a housing loan in Chennai, potential clients must satisfy the following requirements:
To apply for a home loan in Chennai, potential clients are required to procure the following documents:
DOCUMENT TYPE | DOCUMENT |
---|---|
KYC Documents | Aadhaar card, PAN card, passport, and voter ID card |
Proof of Income | Salary slips, income tax returns, Form 16, and bank statements |
Property-related Documents | Property registration papers, property tax receipts, and NOC from the builder or society |
Proof of Employment | Offer letter, appointment letter, and employment contract |
Others | Passport-size photographs, loan application form, and declaration of assets and liabilities |
Please be aware that the documents required for a home loan may differ depending on the lender and the amount of the loan.
Here are the tax benefits that come with taking out a home loan in Chennai:
NOTE:Tax benefits can fluctuate depending on the changes in tax laws and regulations. Clients are advised to consult a tax expert for thorough information on tax benefits of home loans.
Below is a list of the most sought-after and highly recommended areas in Delhi that are ideal for purchasing a home, along with some accompanying details :
Porur : Porur is another emerging suburb located in West Chennai that has seen a surge in real estate development in recent years. It offers a good mix of affordable and premium housing options and is well-connected to other parts of the city through road and rail networks.
Velachery : Velachery is a rapidly growing suburb in South Chennai that is well-connected by road and rail. It has good schools, hospitals, and shopping centres, making it a popular choice for families.
OMR (Old Mahabalipuram Road) : OMR is a fast-developing IT corridor and one of the most preferred locations for professionals working in the IT sector. It offers a range of options for buyers with a mix of apartments, villas, and plots.
Anna Nagar : Anna Nagar is another popular residential locality with good infrastructure and excellent connectivity to other parts of the city. It is known for its well-planned layout, good schools, shopping centres, and entertainment zones.
Adyar: : Adyar is one of the most sought-after residential areas in Chennai, known for its scenic location near the beach, well-connected roads, and proximity to some of the best schools, colleges, and hospitals in the city.