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Best Home Loan in Dehradun: Easy Savings with NoBroker

Researching about different home loan rates can be tiresome. So, to make things easier, here is some information about the best home loan rates in Dehradun.

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Comparing Home Loan Rates in Dehradun

LenderHome Loan Interest Rates In DehradunProcessing Fees & ChargesMaximum Loan AmountMaximum Loan Tenure
Aavas Financier Limited Home Loan8%2%-30 Years
Aditya Birla Capital Home Loan9% - 12.50%1%10 Crores30 Years
Andhra Bank Home Loan8.15% - 9.20%0.50% or ₹15000 + GST (whichever is lower)-30 Years
Axis Bank Home Loan8.75% - 14%1%10 Crores30 Years
Bank of Baroda Home Loan8.50% - 10.60%0.25%- 0.50%10 Crores30 Years
Bank of India Home Loan7.80% - 9.65%-7.50 Crores30 Years
Bank of Maharashtra Home Loan8.40%0.25% or 25,000 (whichever is lower)1 Crore30 Years
Canara Bank Home Loan8.85%- 11.25%₹1,500 - ₹10,0003 Crores30 Years
Central Bank of India Home Loan8.45% - 9.20%0.50% or ₹20,000 + GST (whichever of lower)75 Lakhs30 Years
DBS Home Loan8.25% - 9.75%-5 Crores25 Years
Dena Bank Home Loan8.25% - 8.35%0.50%1.5 Crores30 Years
Dhanalakshmi Bank Home Loan7.2%1% or ₹10,00 + GST (whichever is higher)1 Crore30 Years
DHFL Home Loan8.75%-5 Crore30 Years
Federal Bank Home Loan10.15% - 10.30%-15 Crores30 Years
HDFC Ltd. Home Loan8.50% - 9.60%0.50% or ₹3000 (whichever is higher)10 Crores30 Years
IDBI Bank Home Loan8.75% - 11.45%-10 Crore30 Years
IDFC First Bank Home Loan8% - 14%3%10 Crores30 Years
Indiabulls Home Loan8.75%1%2 Crores30 Years
Indian Overseas Bank Home Loan9.55%--30 Years
India Shelter Finance Corporation Home Loan13% - 20%2% - 3% + GST50 Lakhs20 Years
Jammu and Kashmir Bank Home Loan8%0.25% + GST50 Lakhs30 Years
Karnataka Bank Home Loan9.08% - 10.38%0.50% - 2%5 Crores30 Years
Karur Vysya Bank Home Loan9.23% - 12.13%₹2500 - ₹7500 + GST-25 Years
Kotak Mahindra Bank Home Loan8.85% - 9.40%0.50%10 Crores20 Years
LIC HFL Home Loan8.70%0.30% onwards10 Crores30 Years
PNB Housing Home Loan8.50% - 10.85%-2 Crores30 Years
Reliance Home Finance Limited Home Loan9.35% - 13%0.50% - 1.50%-20 Years
South Indian Bank Home Loan7.95% - 9.60%0.50% + GST15 Crores30 Years
State Bank of India Home Loan9.55%₹2000 - ₹10000 + GST5 Crores30 Years
Sundaram Home Finance Ltd Home Loan6.95% - 8.30%0.50%4 Crores25 Years
Tamilnad Mercantile Bank Home Loan9.10% - 9.60%0.50%5 Crores30 Years
Tata Capital Limited Home Loan8.95%2%5 Crores30 Years
Union Bank Home Loan8.75%0.50% or ₹15000 + GST (whichever is lower)-30 Years
Yes Bank Home Loan9.15% - 11.25%1.5% - ₹10000 (whichever is higher) 10 crores35 Years

Eligibility For Home Loan In Dehradun

Prospective clients will be required to meet certain basic criteria to be considered as eligible for a home loan in Dehradun.

  1. Age : The client will be required to be a minimum of 21 years of age to apply for a home loan and must not be over 65 years at the time of loan maturity.
  2. Income : Though it may change depending on the lender, clients will be expected to earn a minimum of Rs. 2-3 lakh per annum.
  3. Employment stability : Prospective clients will be expected to be in employment for a minimum of 2-3 years.
  4. Credit score : A credit score of 750 or above will be preferred by most lenders.
  5. Property valuation : The property to be purchased must align with the legal and valuation criteria of the bank.

Documents Required To Get The Best Dehradun Bank Home Loan Interest Rates

Prospective clients will require to have the following documents ready to apply for a home loan in Dehradun:

KYC DocumentsAadhaar card, PAN card, passport, and voter ID card
Proof of IncomeSalary slips, income tax returns, Form 16, and bank statements
Property-related DocumentsProperty registration papers, property tax receipts, and NOC from the builder or society
Proof of EmploymentOffer letter, appointment letter, and employment contract
OthersPassport-size photographs, loan application form, and declaration of assets and liabilities

It is important to understand that the exact documents required will vary from lender to lender.

Tax Benefits On Home Loan Rates In Dehradun

Clients are subject to some tax benefits on home loans. Here are some of the key tax benefits of home loans in Dehradun:

  • Tax deduction on interest payment : In adherence to Section 24 of the Income Tax Act, 1961, a deduction of up to Rs. 2 lakh on interest paid for self occupied property and has no maximum limit for a rented-out property.
  • Tax deduction on principal repayment :, Clients can claim a deduction of up to Rs. 1.5 lakh on the principal repayment of a home loan according to Section 80C of the Income Tax Act, 1961.
  • Tax benefits on joint home loans : Each client can claim tax benefits on the interest paid and the principal repayment, proportionate to their share in the loan, in the case where the home loan is applied jointly.
  • Tax benefits on pre-construction interest : Clients can claim a tax deduction on the interest paid during the pre-construction period, starting from the year in which construction is completed, in five equal instalments.
  • Tax benefits on stamp duty and registration charges : Clients can claim a deduction on stamp duty and registration charges paid while purchasing a house, under section 80C, subject to a maximum limit of Rs. 1.5 lakh.

NOTE:Changes to tax laws and regulations can affect the tax benefits that come with home loans. To obtain detailed information about these benefits, borrowers are advised to seek the guidance of a tax expert.

Top 5 Locations To Buy Homes In Dehradun

Listed below are some of the top leading and preferred locations in Dehradun, available for home purchase along with some supporting information:

  • Rajpur Road : This is a prime residential area in Dehradun that offers luxurious living with easy access to shopping, dining, and entertainment options.

  • Sahastradhara Road : This is a developing locality in Dehradun that offers a serene and peaceful living environment, surrounded by natural beauty.

  • Mussoorie Road : This area is located on the outskirts of Dehradun and offers a perfect blend of city living and natural surroundings.

  • Clement Town : This is a well-established residential area in Dehradun that offers excellent social infrastructure and connectivity to other parts of the city.

  • Jakhan: : Located in the heart of Dehradun, Jakhan is a popular residential area known for its peaceful surroundings and proximity to major commercial and entertainment centres.

What is the difference between fixed and floating interest rates on home loans in Dehradun?
Home loans in Dehradun can have either fixed or floating interest rates. Choosing a fixed rate provides stability and predictability in loan repayments, as the interest rate remains unchanged throughout the loan tenure. In contrast, floating rates are subject to market fluctuations and can change over time, potentially becoming lower than fixed rates during favourable market conditions.
What is the maximum loan amount I can get for a home loan in Dehradun?+
To determine eligibility for a home loan in Dehradun, banks consider income, credit score, and property value. Most lenders offer up to 80% of the property value, with the maximum loan amount varying among lenders. The upper limit for home loans in Dehradun is commonly set between Rs. 10-20 crores.
Can I prepay my home loan in Dehradun without penalty?+
While prepayment of home loans is allowed by many banks without penalty, some may charge a fee if the prepayment amount exceeds a specific limit or if it occurs within a designated period, such as the first year of the loan.
How long does it take to process a home loan application in Dehradun?+
The processing period for home loans in Dehradun varies by bank, typically taking 2- 3 weeks for document verification, property appraisal, and loan approval. However, expedited processing may be available for certain loan types.
Can I avail of tax benefits on a joint home loan in Dehradun?+
Joint loan applicants can claim tax benefits on both the principal and interest components of the loan, subject to conditions. Under Section 80C and Section 24 of the Income Tax Act, the maximum deduction allowed is Rs. 1.5 lakhs per person per year for the principal amount and Rs. 2 lakhs per person per year for the interest amount, respectively.
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