Best banks to get your home loan in 2021

Thinking of settling down at Guruvayur, the temple town? Are you checking out flats for sale in Guruvayur? This is possibly the best time to buy a house of your own! Home loan interest rates are at an all-time & there are discounts offered by developers. No need to restrain your budget for buying a home. Get a home loan...

We, Vishraam Builders, trusted builders of flats in Thrissur, list here the best banks to get a home loan from in 2021 to make things easier for you.

State Bank of India (SBI)

The government-run State Bank of India (SBI) is the largest mortgage lender in India. SBI has assisted over 30 lakh families in their home purchases till date. 

SBI home loan interest rate

Rate of interest on home loans	Best rate*	Highest rate*	Longest tenure	Affordability Scale	Processing Fees
For salaried individuals	6.7%	7.20%	30 Years	High	Not applicable till March 31, 2021
For self-employed individuals	7%	7.40%

*Rate applicability valid till March 31, 2021

HDFC Bank

HDFC Bank, the banking subsidiary of the HFC was incorporated in 1994 & has a nationwide network of 5,430 branches.

Interest rate

Rate of interest on home loans	Best rate*	Highest rate*	Longest tenure	Affordability Scale	Processing Fees
For salaried individuals	6.80%	7.85%	30 Years	Average	Up to 0.50% of the loan amount or Rs 3,000, whichever is higher.
For self-employed individuals	6.80%	7.85%

ICICI Bank

India’s second-largest private lender by market-capitalisation, the ICICI Bank currently has a network of 5,288 branches across India.

Interest rate

Rate of interest on home loans	Best rate*	Highest rate*	Longest tenure	Affordability Scale	Processing Fees
For salaried individuals	6.75%	7.95%	30 Years	high	Up to 0.50% of the loan amount
For self-employed individuals	6.95%	8.05%

*Rate applicability from March 5, 2021

Punjab National Bank

The second-largest public sector bank in India, Punjab National Bank (PNB) offers home loan interest rates at affordable rates. PNB has 6,937 branches across 764 cities.

Interest rate

Rate of interest on home loans	Best rate*	Highest rate*	Longest tenure	Affordability Scale	Processing Fees
For salaried individuals	6.80%	7.40%	30 Years	high	None from January 1, 2021 to March 31, 2021. Typically, it is 0.35% of the loan amount, Lower and upper limit capped at Rs 2,500 and Rs 15,000, respectively.
For self-employed individuals	6.80%	7.40%

LIC Housing Finance

A subsidiary of LIC, the company has so far approved over 3.35 lakh home loans.

Interest rate

Rate of interest on home loans	Best rate*	Highest rate*	Longest tenure	Affordability Scale	Processing Fees
For salaried individuals	6.90%	7.80%	30 Years	Average	0.25% of the loan amount, Upper limit capped at Rs. 10,000.
For self-employed individuals	7%	7.90%

These are only a few of the best banks to get your home loan in 2021. Book your flats in Thrissur now with Vishraam Builders!