Home Loans in
Kerala
Keen to buy a home in “God’s Own Country”, Kerala, then apply for a housing loan Kerala and make your dream come true to live in this serene state of backwaters. Top banks and NBFCs offer home loans in Kerala starting at a rate of interest of 8.50% per annum. The maximum period for loan repayment is up to 30 years. For processing each home loan application, the lender may charge a processing fee between 0.25% - 0.50% of the loan amount. The best home loan in Kerala offers up to 90% of the property value as the loan amount to eligible borrowers.
Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
Home Loan Interest Rates in Kerala
Applying for a home loan in Kerala is not an arduous task if you know the exact procedure and fulfill the eligibility requirements laid out by your chosen bank or NBFC. The lowest home loan interest rate in Kerala starts at 8.50% per annum. The table below aims to acquaint you with the home loan rate of interest and processing fee of the top 10 banks and NBFCs in Kerala:
| BASIC Bank/NBFC Partner Name | Max Tenure (in years) | Rate of Interest | Processing Fees (INR) | Contact |
|---|---|---|---|---|
LIC HFC | 30 | 8.50% | Up to 0.25% (Rs. 25,000 max) | |
L&T Housing Finance | 25 | 8.60% onwards | Up to 3% of the loan amount + taxes | |
HDFC Bank | 30 | 8.65% - 9.85% | Up to 0.25% (Rs. 3,540 min) | |
Union Bank of India | 30 | 8.70% | 0.50% (Rs. 15,000 max) | |
PNB Housing | 30 | 8.75% - 11.45% | Up to 0.50% (Rs. 10,000 max) | |
ICICI Bank | 30 | 8.75% onwards | 0.50% - 2.00% of the loan amount | |
GIC Housing Finance | 30 | 8.80% | Rs. 2,500 + GST | |
State Bank of India | 30 | 9.15% - 12.95% | Up to 0.25% (Rs. 10,000 max) |
Eligibility Criteria for Home Loans in Kerala
These criteria are subject to variation from one bank to another. It is recommended that you check with the specific bank you are applying to for a home loan for its eligibility requirements.
Documents Requirement for Home Loans in Kerala
Lending money to borrowers is not possible unless the applicants follow all formalities, and one such formality is submitting the right set of documents to the lender. These are documents that the banks and NBFCs use to verify the authenticity of the borrowers in terms of identity, address, and salary. Spare some time to check the list of documents required for housing loan in Kerala mentioned below:
|
|
| Proof Of Residency | Aadhaar Card, Valid Passport |
| Proof Of Income | Bank Passbook, Bank statement, Last 3 years IT Return |
| Proof Of Age | PAN Card, Voter ID, Birth Certificate, Registration Certificate Of Establishment |
| Proof Of Employment | Certified Letter from Employee/Company Memorandum |
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