How To Get Home Loan From Banks
zThe Ultimate Guide: How to Get a Home Loan from Banks in India (2025-26 Edition) š š°
Are you dreaming of owning a home in a prime location like Greater Noida? Whether you are looking for a 2 BHK flat for sale in Greater Noida under 30 lakh or a luxury villa, understanding how to get a home loan from banks is the most critical step. šļø
In this high-density keyword guide, we will break down the home loan process, home loan eligibility, and the best home loan bank options to ensure your application is approved instantly!
š Comprehensive Loan Specification Sheet
| Specification | Details (Current 2026 Trends) |
| Best Home Loan Rate of Interest | Starting from 7.10% p.a. (Bank of Maharashtra, Central Bank of India) |
| Lowest Interest Bank | SBI, Bank of Baroda, and Union Bank (approx. 7.15% – 7.25%) |
| Maximum Tenure | Up to 30 Years (Age limits apply) |
| LTV Ratio | Up to 90% for loans $\leq$ ā¹30 Lakh |
| Processing Fee | 0.25% to 1% (Often capped at ā¹15,000 – ā¹25,000) |
š¦ How to Get a Home Loan from Banks: The Step-by-Step Process
Learning how to apply for a housing loan is easier than ever with digitalization. Whether you choose a home loan online apply method or visit a branch, here is the roadmap:
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Check Your Credit Score: A score above 750 ensures the lowest home loan rate of interest. š
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Evaluate Home Loan Eligibility: Use a Home loan eligibility calculator to see how much you can borrow based on your salary.
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Select the Best Bank: Compare Home loan HDFC, Home loan SBI, and Paisabazaar home loan offers.
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Property Valuation: Before applying, check the Greater Noida Circle Rates 2025 to understand the legal valuation of your home. š
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Documentation & Approval: Submit your KYC and income proofs to your chosen home loan Finance company.
š Home Loan Specification & Explanation Sheet
| Feature | Specification Details |
| Home Loan Interest Rate | Ranges from 8.40% to 10.50% (Market Dependent) |
| Max Tenure | Up to 30 Years ā³ |
| LTV Ratio | 80% to 90% of property value |
| Processing Fee | 0.5% to 1% of loan amount |
| Top Home Loan Bank | SBI, HDFC, ICICI, Axis, PNB |
šø The Math Behind the Money: EMIs and Salaries
How much EMI for a 20 lakh home loan?
For a ā¹20 Lakh loan at a 9% interest rate for 20 years, your EMI would be approximately ā¹17,995. š
How much salary is needed for a 30 lakh home loan?
To get a ā¹30 Lakh loan comfortably, a monthly salary of ā¹45,000 to ā¹50,000 is usually required. This ensures your EMI stays within the 40% EMI rule.
How much home loan for 70,000 salary?
With a ā¹70,000 salary, you can qualify for a loan of approximately ā¹45 Lakh to ā¹50 Lakh, depending on your existing liabilities. š°
How much loan for 18,000 salary?
With a ā¹18,000 salary, you might qualify for a loan of ā¹10 Lakh to ā¹12 Lakh. In such cases, adding a co-applicant is the best way to increase home loan eligibility.1
š Important Home Loan Rules You Must Know
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The 5-20-30-40 Rule: This rule suggests having a 5% emergency fund, a 20% down payment, a loan tenure not exceeding 30 years, and an EMI not exceeding 40% of your take-home pay. š
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The 40% EMI Rule: Banks prefer that all your monthly debts (EMIs) do not exceed 40% of your total monthly income.
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Is downpayment 20% or 25%? Most banks require 20% as a down payment. However, for smaller loans, Which bank gives 90% of a home loan? Banks like HDFC and SBI often provide 90% funding for loans under ā¹30 Lakh.2 ā
š Frequently Asked Questions (FAQs)
1. Which bank is better to get a home loan?
It depends on your profile. Home loan HDFC is known for fast processing and their user-friendly HDFC home loan app, while SBI often offers the lowest home loan rate of interest.
2. Can a jobless person take a home loan?
Generally, no. A stable income source is mandatory.3 However, a jobless person can be a co-owner if the primary applicant has a strong income. š«š¼
3. What are the 5 keys to qualify for a loan?
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Credit Score (750+)
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Income Stability
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Age (21-60 years)
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Property Legal Clearance (Check the Greater Noida Pin Code and local approvals)
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Low Debt-to-Income Ratio
4. What is the best home loan for first timers?
The SBI Maxgain or HDFC Reach schemes are excellent for first-time buyers due to flexible eligibility and competitive rates. š
5. Why does a home loan get rejected?
Common reasons include a low credit score, unstable job history, or if the property is located in a “red-zone” or unapproved colony. Always check if your property is near infrastructure like the Gaur City 2 Metro Nearest Station to ensure high bankability. š
6. Can I get 100% of my home loan amount?
No. Per RBI guidelines, banks cannot fund 100% of the property value.4 You must cover the registration, stamp duty, and a minimum 10-20% down payment yourself. š
7. What are the 7 types of loans?
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Home Purchase Loan
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Land Purchase Loan
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Home Construction Loan
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Home Expansion Loan
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Home Improvement Loan
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NRI Home Loan
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Balance Transfer Loan š
š How to Apply for Home Loan Online
To apply for home loan online, follow these steps:
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Visit the official website of a Home loan Bank or use the HDFC home Loan app.
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Click on Home loan apply.
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Upload your digital documents (PAN, Aadhaar, Salary Slips).
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Get an instant sanction letter in minutes! ā”
š Location Matters!
When looking for a home loan in India, the location of the property determines the valuation.5 If you are investing in Greater Noida, make sure you understand the Greater Noida Circle Rates 2025 to calculate your exact loan requirement.
Final Verdict: Which Bank is Best? š
If you want the lowest home loan interest, SBI is usually the winner. If you want speed and a high LTV ratio (Can HDFC give 90% home loan? Yes!), then HDFC is the best bank for home loan seekers.
Ready to move into your dream home? Start your home loan online apply process today and secure your future! š āØ
