How is a Home Loan Different from a Personal Loan?

A home loan is secured against property, has a longer tenure of up to 30 years, lower interest rates, and is end-use restricted; a personal loan is unsecured, shorter, and costlier.

Easy Home Loan for Your Dream Home

Lowest Interest Rates for Your Dream Home

Relaxed Eligibility Criteria with Minimum Paperwork

Faster Home Loan Sanction and Disbursal

Why InvestKraft?

We are India’s fastest growing fintech company with all BFSI services on one platform.

10 Lakh +

Happy Customers

5 Years +

Expertise & Excellence

5k+

IK Partners

*Disclaimers/Conditions Apply

Apply for Home Loan

I accept InvestKraft's Terms & Condition and Privacy Policy.

What is a Home Loan?

A home loan is a secured loan offered by banks or NBFCs to help you buy, build, or renovate a house. The property for which you take a home loan becomes the collateral, and you have to repay the loan in EMI over a tenure.

Loan amount

₹

₹1,000

₹1,00,00,000

Rate of interest (p.a)

1 %

50%

Loan tenure

1 yrs

30 yrs

Apply Now

Compare Home Loan Interest Rates and Charges

Let us compare home loan interest rates from various banks (public and private) from the table below:

Name of Home Loan Lenders	Up to INR 30 Lakh	INR 30 Lakh - INR 75 Lakh	Above INR 75 Lakh	Apply Link
A Few Private Sector Banks
HDFC Bank Ltd.	8.75% onwards	8.75% onwards	8.75% onwards	Apply Now
Kotak Mahindra Bank	8.75% onwards	8.75% onwards	8.75% onwards	Apply Now
ICICI Bank	8.75% onwards	8.75% onwards	8.75% onwards	Apply Now
Axis Bank	8.75% – 13.30%	8.75% – 13.30%	8.75%- 9.65%	Apply Now
A Few Public Sector Banks
Bank of Baroda	8.40% – 10.65%	8.40% – 10.65%	8.40% – 10.90%	Apply Now
SBI	8.50% – 9.85%	8.50% – 9.85%	8.50% – 9.85%	Apply Now
Housing Finance Companies (HFCs)
Tata Capital	8.75% onwards	8.75% onwards	8.75% onwards	Apply Now
Aditya Birla Capital	8.60% onwards	8.60% onwards	8.60% onwards	Apply Now

Please note that interest rates vary due to market conditions. Please check the rates from the official website before proceeding.

Other Charges Related to Home Loans

The following are some of the other charges associated with home loans. Please understand them carefully and check with your lender before proceeding:

Processing Fees: Usually 0.35% to 2% of the loan amount. Some banks set a flat fee. Please note that this is non-refundable, even if the loan is not approved.
Property and Life Insurance: You must pay the insurance premiums yourself and on time till the loan tenure ends.
Late Payment / Bounce Charges: If you default on your EMIs by paying late or by missing the payment, then you have to pay an additional penalty of about 1%-2% extra, which is 12-24% per year. Also, if your cheque bounces, then additional charges are applicable.
Incidental and Recovery Charges: These are the charges you have to pay when you default on your payment and the lender takes legal action.
Statutory / Regulatory Charges: These are mandatory charges like stamp duty, registration fees, legal and documentation charges. These vary from state to state.

Please note that apart from these charges, banks and lenders apply extra GST. We strongly recommend that you check the complete policies and documents from your lender.

Book a Seamless Home Loan Experience Through InvestKraft.

Get a Personalized Home Loan Offer Today.

Apply now

Benefits of Home Loan from InvestKraft

From the lowest housing loan interest rate, relaxed home loan eligibility, and quick home loan disbursal, the best home loan can easily be availed from InvestKraft. The following are some of the other benefits of getting a home loan from InvestKraft:

Easy Digital Application

Apply for a home loan online safely and securely.

Quick Home Loan Approval

Your dream home should not wait. With faster home approval, sanction and disbursal, you do not need to wait.

Higher Home Loan Amount

With InvestKraft, you can get a higher home loan amount up to INR 1 crore, so that you can choose your dream home without financial constraints.

Lowest Home Loan Interest Rates

Lower interest rates mean smaller EMIs per month, which means there is less financial stress for you. Also, you can choose tenure up to 30 years to further reduce your EMI.

Flexible Repayment Option

We, at InvestKraft, offer flexible EMI options to repay your home loan as per your income, lifestyle and financial goals. We believe that repayment should never be a burden.

Start Your Loan Application Now!

Home Loan Eligibility Criteria

In order to get the lowest interest rate home loan, you need to meet the following eligibility criteria. Please note that these are the basic eligibility criteria, and there may be additional criteria depending on your lender:

Age: 18-70 years of age at the time of applying for the home loan.
Employment Type: You must be salaried (working in a private/public sector or MNC) or self-employed (business owners, professionals like doctors, engineers, CAs and others).
Income: Regular and stable income. The usual requirement for minimum income is INR 20,000, however this varies by city and lender.
Work Experience / Business Continuity: For salaried individuals, it is usually 1-2 years of work, and for self-employed individuals, you need a minimum of 3 years of business or profession.
Credit Score: A CIBIL score of 700 or above is usually required. Please note that the higher the CIBIL score, the better the chances of approval and lower interest rates.
Co-Applicant: You can add a co-applicant (like spouse or parent) to increase your loan eligibility. They share the responsibility of repaying the loan in case you fail to repay.
Property Criteria: The property must be approved by the lender and meet legal and technical requirements.

Documentation for Home Loan

Documents Required

Employer Identification Card
Loan Application: Full-fledged loan application form duly filled in affixed with Passport size photographs
Proof of Identity: PAN/ Passport/ Driver’s License/ Voter’s ID card
Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Property Documents:

Authorisation for construction (if required)
Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
Occupancy Certificate (if it is a ready to move property)
Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Account Statement:

Last 6 months Bank Account Statements for all Bank Accounts held by the primary and second applicant
If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:
Salary Slip or Salary Certificate of last 3 months
Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

Business address proof
IT returns for last 3 years
Balance Sheet & Profit & Loss A/c for last 3 years
Business License Details (or equivalent)
TDS Certificate (Form 16A, if applicable)
Certificate of qualification (for C.A./ Doctor and other professionals)

Get Your Housing Loan Approved In 3 Simple Steps

With InvestKraft, the entire process is simple, secure and smooth. The lowest interest home loan is now just a few clicks away.

Apply Now

1 Click on Get Started

All you need to get started is to click on the “Get Started” button on your left

2 Fill in the Details

A pop-up will appear, and you need to enter your name, e-mail address, mobile number and amount required. Then click on “Apply Now”

3 Receive Callback

You will receive a callback from our dedicated account specialist, and your application will be taken forward. You can track the progress of your loan application on your account’s dashboard as well.

Frequently Asked Questions

A home loan is a secured loan from a bank or NBFC used to buy, construct, or renovate a property — the property itself serves as collateral until the loan is fully repaid.

A home loan is secured (against property), has a longer tenure (up to 30 years), lower interest rates (8–10%), and is end-use restricted; a personal loan is unsecured, shorter, and costlier.

HFCs are RBI/NHB-regulated NBFCs that specialise in home loans — examples include LIC Housing Finance, HDFC Ltd (now merged with HDFC Bank), and Bajaj Housing Finance.

A home loan is used to buy or build a property; LAP is a loan taken by mortgaging a property you already own — for any end use, typically at higher rates.

Most banks offer plot loans only for residential construction; a pure land purchase without a construction plan typically doesn't qualify for a standard home loan.

View all