609 Views
Meta Description: Read this article to get valuable information on the top three banks for home loans in India in 2022. Standard Chartered Bank stands out as the best overall, while others are unique in their way.
Best Bank To Avail Home Loan In 2022 (Comparison)
Do you want to buy your first home? Purchasing a home is exciting as well as a bit terrifying in this post-pandemic market. You’ll want to end up purchasing a home you like at a price you can pay without any hassle.
Get insights into the list of banks that offer the best home loans in 2022. With a proper list, you can easily compare and choose the best bank to avail of a home loan. In this article, you’ll get details of the top three banks that offer the lowest interest rate and quick approval of home loans in 2022. So, read till the end.
Best Banks To Avail Home Loans In 2022
Best Overall Bank For Home Loan – Standard Chartered Bank
Best Bank For Bad Credit – Axis Bank
Best Bank For Low-Interest Rates – Union Bank of India
Here is a table representing the list of these top banks in India for home loans, along with their interest rates and processing fees:
Bank Name
Interest Rate
Processing Fees
Standard Chartered Bank
Starting at 7.49% PA (subject to change with the revision in repo)
0.5%-1% of the sanctioned loan amount
Top 3 Banks For Home Loans In India |2022|
Here are detailed insights into India’s three best banks for home loans.
Note: Each bank has its housing loan calculator, which makes it easy to determine the loan EMI offered for your required loan amount by these banks.
So, let’s start.
1. Standard Chartered Bank
Standard Chartered Bank is the best for home loans in terms of interest rate, processing fee, approval time, documentation, and more.
This British Banking and Financial Services company is based in London, England. This prestigious banking institution has over 1200 branches worldwide across 70 countries, including India.
Eligibility Age For Home Loan: 23-70 years
Maximum Loan Amount: Up to INR 35 Crores*
Maximum Loan Tenure: 30 Years*
Documentation Required: ID proof, Copy of Sale Deed, Address Proof, ITR, NOC, P/L Statement, financial sheet, and qualification certificate, Payslips, Bank Statement, Form 16.
Union Bank of India
Whether you want funds for purchasing old residential property, a plot under construction, or renovating your old building, Union Bank of India avails home loans for all these purposes.
The best part is getting a home loan to buy or complete a residential unit under construction.
1. Axis Bank
You can get as small as INR 3 lacs of home loan from Axis Bank. The bank also offers home loans to purchase built-in houses and under-construction ones. It also avails of top-up home loans. Axis bank provides both fixed and floating interest rates to customers.
Eligibility Age For Home Loan: 21-60 years
Maximum Loan Amount: Up to INR 3 Crores
Maximum Loan Tenure: 30 Years
Documentation Required: ID proof, Copy of Sale Deed, Address Proof, ITR, NOC, P/L Statement, financial sheet, and qualification certificate.
Final Words
Hopefully, this comparative short guide has helped you determine the best available banks for home loans in India.
Standard Chartered Bank stands out in the first position, while the others are just behind the line. So, decide the bank from which you want to take the home loan, and get started.