Top Housing Finance Companies in India

July 25, 2022

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There are many different home loans on the market, so it’s essential to compare them to find the best deal for you. Lastly, You need to ensure you can get a reasonable interest rate. Interest rates on home loans can vary, so shopping around is essential to get the best deal.

With the housing market in flux, it’s crucial to know your options and make informed decisions. We’ve put together a list of the top housing finance companies and their top products. This blog will look at each different aspect of the housing market, and how we can use AI to help us make better decisions when buying a home. Not only does this guide offer a better understanding of your options, but it also provides you with a starting point for your research!

HDFC Housing Finance

HDFC Housing Finance is one of the leading home loan providers in India. With its headquarters in Mumbai, HDFC offers customized housing solutions to make every homebuyer’s dream come true. With an aim to increase the inflow of resources in the housing sector, HDFC has served around nine million happy customers since its inception.

Key Features

Given below are some of the attractive and unique features of HDFC home loans that make this a must-have financial tool:

Parameters Features
Loan Amount  
Tenure Up to 30 years
LTV Up to 90% of the cost of the property
Additional Features ●     PMAY Scheme ●     Online application system ●     24*7 customer care services ●     In-house legal experts ●     Flexible repayment options

Fees and Charges

The table given below shows some of the fees and charges that HDFC charges for the processing, disbursal, and closure of the loan.

Parameters Fees and Charges
Rate of Interest Ranging from 7.70% p.a.
Processing Fees Upto 0.50% of the loan amount or INR 3000 (whichever is higher)
Penal charges 2% per month
Retail Prime Lending Rate 16.95% p.a.

Funding Criteria

Home Loan Amount Maximum Funding
Up to INR 30 lakhs 90% of the cost of the property
INR 30.01 lakhs to INR 75 lakhs 80% of the cost of the property
Above INR 75 lakhs 75% of the cost of the property

HDFC Customer Care

In case you have any doubts or queries regarding HDFC home loans, you can get in touch with customer care in the below-listed methods:

Parameter Contact Information
Toll Free number 1800 210 0018
Helpline website https://www.hdfc.com/helpline
Service request https://www.hdfc.com/write-to-us/service-request

LIC Housing Finance Limited

LIC Housing Finance Ltd (LICHFL) was incorporated in 1989 by the Government of India. It is a wholly-owned subsidiary of LIC. LIC of India has subscribed to the Company’s charter capital of Rs.10 crores to provide Home Loans to the LIC’s policyholders interested in financing their dwelling units for personal use. LICHFL has been listed on both the NSE and BSE since 1994. Plus, women borrowers can get special concessions in interest rates. So don’t wait any longer – apply for a loan today!

LIC Housing Finance Ltd is a subsidiary of LIC that provides home loans to policyholders. It also provides finance to builders and developers for the construction of residential units. Loan products are available at low-interest rates and affordable EMIs.

Key Features and Benefits

Given below are some of the features and characteristics of a home loan from LIC Housing Finance:

Loan Amount INR 15 crores
Tenure 30 years
LTV Upto 90%

Key Points 

Given below are some of the key points to remember about LIC Housing Finance Limited:

Parameters Fees and Charges
Rate of Interest 6.90% p.a. onwards
Tenure ●     Salaried individuals: 30 years ●     Self employed individuals: 25 years
Processing Fees 0.50% of the loan amount
Retail Prime Lending Rate 15.30% p.a.

Funding Criteria

Home Loan Amount Maximum Funding
Upto INR 30 lakhs 90% of the cost of the property
INR 30.01 lakhs to INR 75 lakhs 80% of the cost of the property
Above INR 75 lakhs 75% of the cost of the property

LIC HFL: Customer Care Services

If a customer has any queries or needs assistance with LIC home loan products, they can get in touch with customer care in the below-given ways:

Home loan inquiry https://www.lichousing.com/home-loan-enquiry
Email ID lichousing@lichousing.com
Contact Details 912222049799

Indiabulls Housing Finance Limited

Indiabulls was founded in 2000 by Sameer Gehlaut and Rajiv Rattan. The company started as a small mortgage company but quickly grew into one of India’s largest home loan providers. It is now one of the most trusted and reliable brands in the home loan industry.

They have become one of the few lenders in India that offers home loans for self-employed individuals. They have gained a reputable market standing by providing various home loan products, including home purchase loans, home improvement loans, and home extension loans. The company also provides home loans for self-employed individuals.

Key Features

Indiabulls home loans provide the following features to its customers:

Parameters Features
Loan Amount Up to INR 5 crores
Tenure Up to 30 years
Loan Amount (LTV) Up to 90% of the cost of the property

Fees and Charges

Parameters Fees and Charges
Rate of Interest 7.60% p.a. onwards
Processing Fees Upto 2% of the sanctioned loan amount
Prepayment Charges NIL
Penal Charges 24.00%

Indiabulls Housing Finance Limited Customer Care

Given below are the customer care details for an Indiabulls home loan:

Toll-Free Number 1800-572-7777
Customer Service Email ID ●     Customer service: customerserviceloans@indiabulls.com ●     New Customer: homeloans@indiabulls.com ●     NRI Customer: nriloans_hl@indiabulls.com

Bandhan Bank

Gruh Finance Limited was a housing finance subsidiary of HDFC. Headquartered in Ahmedabad, Gujarat, it provides housing loans to people belonging to the low and medium-income groups. In 2019, Gruh Finance Ltd was merged with Bandhan Bank and became a wholly-owned subsidiary of the bank. It offers banking and financial services in India’s rural and semi-urban areas. The bank has over 2,500 branches and 6,000 ATMs across 24 states and two Union Territories in India.

Key Features and Benefits

Given below are the features and benefits of a home loan from Bandhan Bank:

  • Bandhan Bank offers home loans accompanied by minimal documentation and swift processing
  • It offers flexible repayment options
  • The bank offers insurance facilities along with the home loan
  • It provides a balance transfer facility on home loans and doorstep assistance for any queries during the application process

Fees and Charges

Given below are some of the fees and charges associated with a home loan from Bandhan Bank:

Parameters Fees and Charges
Rate of Interest 6.40% p.a. To 13.50% p.a.
Processing Fees 1.00% of the loan amount + tax
Login Fees INR 3,500
Prepayment Charges Companies and Firms: 2.00% + GST

Bandhan Bank Customer Care Service Number

If anyone wants to get in touch with Bandhan Bank customer care, they can do so in the below-given ways:

Email Address customercare@bandhanbank.com
Toll free helpline number  1800-258-8181/  033-6609-0909

L&T Housing Finance Limited

L&T Housing Finance Limited is a leading provider of financial services in India. The company offers a wide range of products, including homes, construction, two-wheelers, farm equipment, supply chain, real estate, and microloans. L&T Housing Finance caters to customers in all parts of the country and is committed to providing quality services that meet the needs of its customers.

With its strong financial foundation and experienced management team, L&T Housing Finance is well-positioned to provide innovative financial solutions that help its customers achieve their goals.

Key Features and Benefits

The table given shows the different features of a home loan from L&T Housing Finance:

Parameters Features
Loan Amount Upto INR 10 crores
Tenure 30 years
LTV Upto 90%

Fees and Charges

Given below are some of the fees and charges of a home loan from L&T housing finance:

Parameters Fees and Charges
Interest rate ●     Salaried: 7.70% p.a. to 8.20% p.a. ●     Self employed: 7.95% p.a. to 8.70% p.a.
Processing fees 0.25% onwards
Login Fees INR 5,000
Penal Charges 3.00%
Foreclosure Charges NIL

L&T Housing Finance Limited Customer Care

You can reach out to L&T Finance Limited customer care regarding any doubts or queries, in the methods given below:

Parameter Contact Information
Contact Number 022-62125000
Email Address customerservice@ltfs.com

PNB Housing Finance Limited

PNB Housing Finance Ltd. is one of the leading housing finance providers with a pan-India presence. The company offers a wide range of housing finance products, including development finance, home loans, refinance, plot loans, and loans against property. The company has a wide range of products catering to the needs of homebuyers, including housing loans, construction finance, and loans against property.

PNB Housing is also one of the few housing finance companies in the country to receive an ‘A’ rating from CRISIL, one of India’s leading credit rating agencies. The ranking reflects the company’s strong financial position and healthy operating performance. With over two decades of experience in the housing finance sector, PNB Housing is well-equipped to provide financing for all your housing needs.

Key Features and Benefits

Tabulated below are some of the key features and benefits of a home loan from PNB Housing:

Parameters Features
Loan Amount Upto INR 1 crore
Tenure 30 years
LTV Upto 90%

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from PNB housing:

Parameters Fees and Charges
Interest rate 7.40% p.a. – 8.85% p.a.
Processing fees 0.35%  ranging from INR 2,500 and 15,000
Foreclosure Charges NIL
Penal Interest 2.00%

Customer Care

Given below are the customer care details  for PNB housing:

Parameter Contact Information
Contact Number 1800 180 2222 or 1800 103 2222
Email Address care@pnb.co.in

IIFL Housing Finance Limited

IIFL Housing Finance Limited is a registered housing finance company incorporated in 2006. The company commenced operations in 2006 and received a registration certificate from NHB in 2009. IIFL Home Finance Limited offers individuals and corporations a wide range of housing finance products. The company is committed to providing quality housing finance products and services that meet the needs of its customers.

Key Features and Benefits

Tabulated below are some of the key features and benefits of a home loan from IIFL Housing:

Parameters Features
Loan Amount Upto INR 3 crores
Tenure 30 years
LTV 75% to 90% of the cost of property

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from IIFL housing:

Parameters Fees and Charges
Interest rate 8.20% p.a. onwards
Processing fees Upto 1.75% of the loan amount
Foreclosure Charges NIL
Penal charges 18.00% outstanding EMI

Customer Care

Given below are the customer care details for IIFL Housing finance:

Parameter Contact Information
Contact Number 180030001155
Email Address reach@iihfl.com

GIC Housing Finance Limited

After being established in December 1989 as GIC Grih Vitta Limited, the company changed its name into GIC Housing Finance Limited. It is a subsidiary of General Insurance Corporation of India. As a pan-Indian company, the company has branches and representative offices across the country. As one of the most recognized and trusted names in the housing finance industry, GIC Housing Finance Limited is widely recognized and trusted.

Key Features and Benefits

Tabulated below are some of the key features and benefits of a home loan from GIC Housing:

Parameters Features
Loan Amount ●     Rural Area: INR 20 lakhs ●     Urban Area: INR 28 lakhs
Tenure 30 years
LTV Upto 90%

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from GIC housing:

Parameters Fees and Charges
Interest rate 7.90% p.a. onwards
Processing fees INR 3,000 + GST
Foreclosure Charges NIL
Penal Charges Depends on the number of EMIs delayed

Customer Care

Parameter Contact Information
Contact Number 1800 103 0000
Email Address  info@gicofindia.com

Sundaram Home

Headquartered in Chennai, Sundaram Home is a wholly owned subsidiary of Sundaram Finance Ltd. The leading non-banking financial company in India has a pan-India presence with branches in more than 20 states and Union Territories. The company offers a wide range of housing finance products to individuals and corporations in India. The company has been awarded the highest rating of ‘CRISIL AAA/Stable’ by CRISIL, one of the leading rating agencies in India.

Key Features and Benefits

Tabulated below are some of the key features and benefits of a home loan from Sundaram Home:

Parameters Features
Loan Amount INR 4 crores
Tenure 20 years
LTV Upto 85%

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from Sundaram Home:

Parameters Fees and Charges
Interest rate 6.50% p.a. to 15.00% p.a.
Processing fees INR 3,000 + GST
Foreclosure Charges NIL

Customer Care

Parameter Contact Information
Contact Number 9289220125
Email Address investorservices@sundaramfinance.in

Tata Capital Housing Finance Limited

As a subsidiary of Tata Capital Limited, Tata Capital Housing Finance Limited was incorporated in 2007. In addition to offering long-term loans for housing purposes, the company is accredited with the National Housing Bank as a Housing Finance Company. Among the products offered by Tata Capital Housing Finance Limited are loans to purchase and construct housing units, loans for land purchases, home improvement loans, and loan extensions to developers. It aims to provide its customers with a hassle-free experience and help them achieve their homeownership dreams.

Key Features and Benefits

Tabulated below are some of the key features and benefits of a home loan from Tata Capital Housing:

Loan Amount Up to INR 5 crores
Loan Tenure Up to 30 years
LTV Up to 80% of the cost of the property

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from Tata Capital:

Parameters Fees and Charges
Interest rates 7.75% p.a.
Processing Fees 0.50% + GST
Prepayment Charges ●     NIL for own source payments ●     2% for non-individual and balance transfers

Tata Capital Customer Care

Parameter Contact Information
Contact Number 1800-267-6060
Email Address customercare.housing@tatacapital.com

Aavas Financiers Limited

Aavas Financiers Limited was established to assist residents in Rajasthan with quality housing. The company has grown and expanded, and now offers a range of financial services across the country.

In 2011, the company was formed by registering as a private limited company under the name “Au Housing Finance Private Limited” in Jaipur, Rajasthan. The company focuses on affordable housing with a network of branches across 27 states and four union territories.

Key Features

Tabulated below are some of the key features and benefits of a home loan from Aavas Financiers:

Parameters Features
Loan Amount INR 10 crores
Tenure 30 years
LTV Upto 75%

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from Aavas Financiers:

Parameters Fees and Charges
Interest rates 8.50% p.a. onwards
Balance Transfer Rate 7.15% p.a.
Processing Fees 1.00% + GST
Prepayment Charges NA (for floating rate home loans)

Customer Care

Parameter Contact Information
Contact Number 1800-20-888-20 / 0141-661-8888
Email Address customercare@aavas.in

Can Fin Homes Limited

Can Fin Homes Limited (CFHL) has a rich legacy in the residential mortgage industry dating back more than three decades In accordance with the NHB regulations, CFHL, based in Bangalore, is one of the few institutions permitted to accept deposits.

As a responsible lender with a strong track record of timely disbursement and high customer satisfaction, CFHL strives to create value for all its stakeholders.

Key Features

Tabulated below are some of the key features and benefits of a home loan from Can Fin:

Parameters Features
Loan Amount Contact the bank
LTV Upto 90% of the cost of the property
Tenure 30 years

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from Can Fin:

Parameters Fees and Charges
Interest Rate 8.25% p.a. onwards
Processing Fees 0.75% + GST
Foreclosure Fees NIL
Prepayment Fees NIL

Customer Care

Parameter Contact Information
Contact Number 080-2656 7655
Email Address development@canfinhomes.com

Repco Home Finance

Repco Home Finance Ltd was established in 1987 by Mr. S. Ravichandran. As a small housing finance company, the company began operations in Tamil Nadu in southern India. With a pan-India presence, RHFL has grown into a reputable housing finance company. Licensed by the NHB as a housing finance company, the company maintains a network of branches throughout the country. In the years to come, RHFL is committed to providing the best possible products and services to its customers.

Key Features

Tabulated below are some of the key features and benefits of a home loan from Repco Home Finance:

Parameters Features
Loan Amount INR 10 crore
Tenure 25 years
LTV 85%

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from Repco Home Finance:

Parameters Fees and Charges
Interest Rate 7.50% p.a. onwards
Processing Fees 1.00%
Prepayment Fees 2.00%
Penal Interest Rate 24%

Customer Care

Parameter Contact Information
Contact Number 1800-425-6070
Email Address co@repcohome.com

Akme Star Housing Finance Limited

Akme Star Housing Finance Limited was founded in 2005 as a housing finance provider for economically weak sections, low-income groups, and middle-income groups. Since 2006, the company has been registered with the National Housing Bank.

Key Features

Tabulated below are some of the key features and benefits of a home loan from Akme Star Housing:

Parameters Features
Loan Amount Maximum: Upto INR 25 lakhs
Tenure Maximum: 20 years
LTV Maximum: 80% of the cost of the Property

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from Akme Star Housing:

Parameters Fees and Charges
Interest Rate 15.00% p.a. onwards
Processing Fees 2.00%
Prepayment Fees NIL
Login Fees INR 2400

Customer Care

Parameter Contact Information
Contact Number +916377770825/ 8828036610
Email Address ashish.kothari@akmestarhfc.in

Dewan Housing Finance Limited (DHFL)

As a housing finance company, Piramal Capital & Housing Finance Limited (PCHFL) is registered with the National Housing Bank (NHB) in India. As a wholly-owned subsidiary of Piramal Enterprises Limited, the parent organization of the Piramal Group, the company operates under its own brand name. As a result of its commitment to providing quality financial services to its customers, PCHFL has received a number of awards and accolades.

Key Features and Benefits

Tabulated below are some of the key features and benefits of a home loan from Dewan Housing Finance Limited:

Parameters Features
Loan Amount INR 75 Lakhs
Tenure 30 years
LTV Up to 90% of Property Value

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from Dewan housing:

Parameters Fees and Charges
Interest rate 10.50% p.a. onwards
Processing fees 0.50%
Foreclosure Charges NIL
Penal Interest 2.00%

Customer Care

Parameter Contact Information
Contact Number 1800 266 6444
Email Address customercare@piramal.com

Cholamandalam Housing Finance

As part of the Murugappa Group since 1978, Cholamandalam Investment and Finance Company has developed into one of India’s most trusted financial institutions. With 858 branches across India, Cholamandalam Finance serves 8 lakh customers. The Cholamandalam home loan is ideal for first-time home buyers as well as experienced property investors. Packed with exclusive benefits, Cholamandalam Home Loans are tailor-made to cater to the needs of various customers.

Key Features and Benefits

Tabulated below are some of the key features and benefits of a home loan from Cholamandalam Housing

Parameters Features
Loan Amount Upto INR 50 lakhs
Tenure 30 years

Fees and Charges

Listed below are the several different fees and charges associated with a home loan from Cholamandalam housing:

Parameters Fees and Charges
Interest Rate 9.00% p.a. to  12.00% p.a.
Processing Fees 1.00% + GST
Prepayment Charges NIL

Customer Care

Parameter Contact Information
Contact Number 1800-102-4565
Email Address customercare@chola.murugappa.com

Frequently Asked Questions

What is Home Loan? What is the purpose of Housing Finance?

Home loans are one of the most popular ways to finance the purchase of a home. A home loan is a loan from a bank or other financial institution that is used to purchase a home. The loan is secured by the home itself, so if you default on the loan, the bank can foreclose on the home. Home loans typically have a longer term than other types of loans, such as auto loans, and they usually have a lower interest rate.

What are the basic eligibility criteria for Home Loan?

First, you'll need to have a steady income. This can come from a job, self-employment, or other sources. Lenders require the applicant to have a positive credit score above 750. Secondly, you should have the minimum work experience prescribed by your financier. Lastly, you should have a good repayment history.

How many home finance companies are there in India?

There are about 100 Housing Financing Companies in India. HDFC Ltd. is considered as one of the best HFC in India.

Tushar Gautam is a content writer inclined to enlighten his readers about the world of finance through Urban Money.

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