Top 10 Housing Finance Companies in India

Top 10 Housing Finance : Opting for a home loan can be facilitated through banks or non-banking financial companies (NBFCs), with Housing Finance Companies (HFCs) being a subset of NBFCs. Deciding between a bank or an HFC involves comparing tenure, interest rates, and processing fees offered by these institutions. Here, we present a roundup of the top 10 Housing Finance Companies in the country.

Here, Top 10 Housing Finance Companies

1. HDFC Housing Finance
   HDFC Housing Finance provides diverse home loan products, including plot loans, rural housing loans, home improvement loans, and home extension loans. Interest rates for home loans start at 8.65%, catering to both salaried and self-employed resident Indians aged 18-65.
   
2. LIC Housing Finance Limited:
   LIC Housing Finance offers attractive home loan rates for Indian residents, NRIs, and pensioners. Their loan offerings include purchase, construction, extension, house repair, plot purchase, and top-up loans. LIC Housing Finance provides benefits like flexible repayment periods, quick loan processing, zero processing fees, zero pre-closure charges, and no partial pre-payment charges.
   
3. Indiabulls Housing Finance Limited:
   Indiabulls is 3rd in our Top 10 Housing Finance companies list. Indiabulls Housing facilitates instant home loan approvals with competitive interest rates for up to 30 years. Features include zero pre-payment charges, flexible tenure options, and no pre-closure fees. Interest rates range from 8.95% to 13.00% p.a., with a processing fee of 0.50% to 1% of the loan amount.
   
4. L&T Housing Finance Limited:
   L&T Housing Finance offers appealing home loan rates for construction, house improvement, and house extension. The repayment tenure is up to 20 years, with loan amounts ranging from Rs.3 lakh to Rs.10 crore. Benefits include quick processing, transparent procedures, instant online approval, attractive rates, minimal documentation, multiple repayment options, and zero pre-payment charges.
   
5. PNB Housing Finance Limited:
   PNB Housing Finance provides competitive home loan rates for both resident and non-resident Indians. Schemes cater to government employees, the general public, and others.
   
6. IIFL Housing Finance Limited:
   IIFL Housing Finance offers home loans starting from 8.20% p.a. onwards. Eligible applicants include Indian citizens aged 18-75, both self-employed and salaried, as well as NRIs. The company provides various home loan products, including balance transfer and home improvement.
   
7. GIC Housing Finance Limited:
   GIC Housing Finance Limited offers a range of home loans, including individual housing loans, composite loans, balance transfers, home extensions, and renovation/repair loans. Interest rates start at 8.10% p.a. The company provides free accidental death insurance and property insurance along with the home loan, with online application and approval processes requiring minimal documentation.
   
8. Sundaram Home Finance:
   Sundaram Home Finance offers home loan products with attractive interest rates for both salaried and self-employed individuals aged 18 to 65. Products include plot loans, home improvement loans, home extension loans, top-up loans, takeover loans, and loans against property.
   
9. Tata Capital Housing Finance Limited:
   Tata Capital Housing Finance Limited provides home loans starting at 8.95% p.a. Eligible individuals include salaried or self-employed applicants with a CIBIL Score above 750, aged between 24 and 65 at the time of loan completion. NRIs are also eligible, with flexible repayment options and a maximum loan amount of Rs.5 crore.
   
10. Aavas Financiers Limited:
    Aavas Financiers Limited offers home loans starting at Rs.1 lakh, with the maximum amount dependent on income and credit history. Repayment tenures vary from 20 to 30 years, and the company provides a range of home loan products, including those for purchase, land acquisition, construction, improvement, balance transfer, and loans against property.

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