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.