Are you looking for home loans in India, down below the article I present you some of the things that you should consider while making your decision? The home loan market of India is filled with various firms and companies offering best loans to customers. They apply variety of tactics to attract customers to them.

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The home loans market is filled with competitors that tends to offer their best to the customers. They differ to each other from little margin. There are certain Terminologies that you should need to consider that you will be hearing from the bank or from the agent.

Before going to the bank, you should fix your budget for the house. The bank will sanction you loan as per your income source. Your loan amount will be according to the property value that you have. Generally, the bank sanctions the loan on the amount near to 80-85 % of your property value. This data will vary from bank to bank.

One of thing that bothers a lot while taking loans is the interest rate, the amount that you will need to pay to the bank additionally. The lesser the rate the more profit you will be in. The interest rate is classified into two categories- FIXED INTREST RATE & FLOATING INTREST RATE.


In this scheme the interest rates are fixed further onwards if the market value changes then you will not be affected.


In this scheme if the market will go down your rate will increase as per the rate decided by the authorities. And if the market goes up they will vary accordingly.

The thing that you should consider next is the processing fees that very bank charges. The bank does gives loan alone it charges you a processing fee. It’s the income source for the bank. This also varies from bank to bank. At present KOTAK BANK has minimum interest rate of .25%. This value is subject to change.

Are you thinking that its a clumsy idea that to go to every bank and ask for rates? Well you don’t need to do that. Banks have posted these rates their information online. There are certain other websites like bankbazaar, wishfin and anapasia that will make your work easier. They compare the prices and rates online and displays directly to the customer. You should also check them too.

It’s better to do some homework before going directly to the party. Another thing that you should investigate first before proceeding, is the terms and condition applied by the bank so if you should be aware of all the conditions. Choose your decision wisely.