Home Construction Loan
Home Construction Loan
A home construction loan is offered by various banks and financial institutions that offer affordable interest rates to assist you in constructing a house/residential property with simplified documentation and flexible repayment schemes.
Interest rate and processing fees by various banks
Bank Name Interest Rate (p.a) Processing Fee
Canara Bank 8% Up to 1% on loan amount
Bank of India 9% Up to 1% on loan amount
Axis Bank 8% Up to 1% on loan amount
Bandhan Bank 9% Up to 1% on loan amount
Bank of Baroda 8% Up to 1% on loan amount
DHFL 9% Up to 1% on loan amount
Federal Bank 10% Up to 1% on loan amount
DCB Bank 8% Up to 1% on loan amount
Central Bank of India 9% Up to 1% on loan amount
Kotak Mahindra Bank 8% Up to 1% on loan amount
LIC Housing Finance 10% Up to 1% on loan amount
Magma Housing Finance 10% Up to 1% on loan amount
Punjab National Bank 10% Up to 1% on loan amount
Edelweiss Finance 10% Up to 1% on loan amount
Digibank (DBS) 9% Up to 1% on loan amount
Indian Overseas Bank 8% Up to 1% on loan amount
Bank of Maharashtra 10% Up to 1% on loan amount
HDFC Bank 8% Up to 1% on loan amount
Eligibility criteria for a home construction loan
Eligibility criteria for home construction loans depend on various factors such as repayment history, age factor, business turnover, etc.
The age of the borrower should be more than 18 years at the time of loan application and should be 60 at the time of loan maturity.
Work experience should be required for a minimum of 3 years.
CIBIL Score must be 750 or above.
A minimum of 1year needed for the current organization.
Nationality should be the resident of India.
Make the dream of constructing your home with Financeseva to ease the loan process and pay lowest interest rates on home construction loans.
