Top 10 Banks offering Attractive Home Loans

    Let us throw a few figures at you, to start off. According to the 2011 Census, India has 24.67 crore households. Of all these households, 32% are urban households while 68% dwell in the rural areas. Now, the share of households living in owned houses in rural areas is an astounding 95% but falls to just 69% in urban areas. So, overall only 14% of Indian households live in rented houses. If we compare this to the US numbers, 37% of their total households dwell in rented houses. Something seems amiss in the numbers. If we dig in deeper, we find that 40% of the total households in India live in homes with a single room. With an average household size of 4.9, it means that 40% of the households have 5 people living in one single room. No wonder that the Indian Government has come up with the ‘Housing for All by 2022’ scheme under which borrowers can get 4% interest rate rebate on home loans for up to 9 lakh rupees and so on. The home loan market in India comprises 76 lenders which include banks, and housing finance companies. We have cherry picked the best banks in the country for you which would help you in zeroing down upon the best home loan to apply for.

    24
    475087

    9Kotak Bank

    Kotak Bank is one of the recently established banks in India. It shot into prominence due to the 6% rate of interest on the savings account. It was established in 1985 by Uday Kotak and in February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking license from the Reserve Bank of India (RBI). With this, Kotak Mahindra Finance Limited became the first non-banking finance company in India to be converted into a bank.

    In a study by Brand Finance Banking 500, published in February 2014 by the Banker magazine, Kotak Bank was ranked 245th among the world’s top 500 banks with brand valuation of around half a billion dollars and brand rating of AA+. In 2014, Kotak acquired ING Vysya Bank in a deal worth 15,000 crore rupees.

    Kotak Mahindra Bank also has an arm dealing with the disbursement of funds for the borrowers. Kotak Mahindra Bank has a rate of interest for home loans starting from 8.35%. Their loan disbursement process is hassle free and convenient. Having one of the quickest turnaround times, Kotak Mahindra Bank keeps the customers first. They also hook the customers up with attractive insurance options to cover your home so as to protect the home in case an unforeseen event strikes. They also provide door step services for potential customers.

     

    SHARE
    Previous articleTop 10 Scams that Rocked the Nation
    Next article5 Reasons Breaking Bad is a Must Watch
    I'm a huge Nadal & Liverpool fan. A massive foodie who is crazy about GoT, Harry Potter, Calvin & Hobbes and Friends, I love reading non/historical fiction. Used to be a tennis player before work caught up. Tennis has now been conveniently substituted by cycling.I am an avid traveler who believes that the pleasure is in the journey!

    24 COMMENTS

    1. I ve a question about it. Can i take the loan under PM yojna. I ve been filling IT Return from last 4 years..that is near 3 lakh per year. I am doing private job n side buissnes..if i can get loan pls guide me

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here