Home Loan in Bhopal

Home Loan in Bhopal - Interest Rates
Updated on 20 Aug 2020

Home Loan in Bhopal- Eligibility Calculator for Salaried & Self Employed Borrowers

About Bhopal

Bhopal is the capital of the state of Madhya Pradesh. It is one of the greenest cities of the state. The city was the capital of former Bhopal State. Bhopal is the city of lakes. It has a number of artificial and original lakes. Bhopal has been chosen as one of the twenty cities to be developed as a smart city under PM Narendra Modi. The city is known as one of the cleanest city in the country. Bharat Bhavan is one of the cultural centers of the city. Diwali and Eid are the major festivals of the city. According to the 2011 census, the population of the Bhopal city (the area under Bhopal Municipal Corporation) is 1,798,218, with 936,168 males and 862,050 females. The population of the Bhopal metropolitan area (the urban agglomeration that extends beyond Bhopal city) was 1,886,100 in 2011. Out of Bhopal's total population in 2001, 1.34 million were Hindus (73%), 420,000 were Muslims (23%), and rest were Jains, Christians, Buddhists, Sikhs and others.

About Home Loan in Bhopal

The major industries in the city of Bhopal are medicinal, cotton, chemicals, jewelry and electrical goods. Other industries include cotton and flour milling, cloth weaving and painting, as well as making matches, sealing wax, and sporting equipment. The residents of Bhopal are also engaged in large retail businesses. Handicrafts, like zardozi and batua (a small string purse, usually used with Indian traditional dresses) are some of the products of the city. Bhopal is home to the Bhaskar Group which is also known as Dainik Bhaskar. Bharat Heavy Electricals Ltd. the largest engineering and manufacturing enterprise in India has a unit in Bhopal. It occupies a large area in the eastern part of the city. A majority of the residents of the BHEL Suburb are employed by the unit. Mandideep is an industrial suburb of Bhopal which has total exports of 2300 crore rupees a year making it the largest industrial area in Madhya Pradesh. The town is home to Hindustan Electo Graphite (HEG), owning the largest graphite electrode plant in the world and is the largest industrial company in the entire state.

Hindustan Electro Graphite (HEG) and Lupin Laboratories ltd. are the dominant companies in the suburb, each exports are worth around 900 crore rupees. Apart from that, Mandideep also houses the manufacturing plant of Makson group of company, Eicher Tractors for the oldest tractor manufacturers in India. It has a pleasant climate, plenty of job opportunities and residential facilities. Plenty of people flock to the city in search of the job opportunities. These people demand residential facilities at affordable rates and with all the modern facilities. They look for affordable home loans in Bhopal. As a number of banks and NBFCs are offering home loans at affordable rates and attractive EMIs buying a home in the city of Bhopal is just a click away. Home loans are available for buying new property or flat, resale of flat or property, plot or land purchase, home improvement and home purchase at good schemes.

Home Loan Providers in Bhopal

Once the house is selected we need to find the right home loan provider who could guide us through the process of acquiring the loan Home loan is a long term investment plan and in order to make the home loan process a smooth one we need to know about the home loan providers in Surat. A good number of banks and NBFCs provide for home loan in Bhopal. These banks provide affordable EMIs and competitive home loan interest rates in Bhopal. Some of these banks are HDFC Limited, Standard Chartered Bank, PNB housing finance, Kotak Mahindra Bank, Axis Bank, ICICI Bank, DHFL, Indiabulls, Citibank, Sundaram Homes, AU Housing, GRUH Finance Limited, Edelweiss, IIFL, Dena Bank, Jammu and Kashmir Bank, Oriental Bank, LIC HFL, Federal Bank, Bank of Baroda, Bank of India, Canara Bank, BOM, IDBI Bank, IOB, Central Bank, Yes Bank, TATA Capital, L&T Bank, Aditya Birla, India Shelter, DBS Bank, Reliance Homes, and many more which make available attractive home loan offers in Bhopal.

To avail the home loan without any benefit is a task which can be very confusing and the process of acquiring the loan is a crucial decision. Hence this decision is to be taken very carefully by the borrowers. Hence these borrowers should look for home loan agents in Bhopal so that these agents can help them avail the right loan and at the rate of interest at their doorstep. These agents also provide help regarding the documents for eligibility and hence make the process of availing the home loan a smooth one.

Top 10 Home Loan Providers in Bhopal

1. SBI Bank Home Loan:
   

   SBI home loan in Bhopal provides for tailor made and customized home loans to suit the needs of the customers and also fulfill their expectations regarding the home loan facilities. The loan amount is given for 80% value of the property. SBI home loan interest rates vary from 8.35% to 8.60%. The minimum income to apply to for SBI home loan is Rs.10000. SBI home loan are tailor made and customized home loans to suit the needs of the customers and also fulfill their expectations regarding the home loan facilities and hence is regarded as one of the best bank for home loan in Bhopal.



2. ICICI Bank Home Loan:
   

   ICICI home loan interest rates vary from 8.35% to 8.85%. The home loan is available at a minimum processing fee of 1% of the total amount of the home loan which is a very minimal amount. A salaried or self employed individual of minimum 21 years of age can apply for ICICI home loan, the maximum age limit being 60 in case of salaried and 65 in case of self employed individuals. home loans for a maximum tenure of 30 years which is a very long tenure for the repayment of the home loan as longer the loan lesser will be the EMI.



3. Axis Bank Home Loan:
   

   Axis Bank home loan provides loans for a maximum tenure of 30 years which is a very long duration for the repayment of the home loan as longer the tenure lesser will be the EMI amount. Axis bank home loan offers home loans with attractive interest rates and affordable EMIs to suit the needs of the customers and enable them to avail the benefits of the home loan without any difficulty. Minimum age to apply for Axis bank home loan is 24 years in case of salaried and self employed and the maximum age is 60 in case of salaried and 65 in case of self employed Axis bank home loan attractive interest rate



4. HDFC Bank Home Loan:
   

   HDFC stands for Housing Development Corporation Limited. The maximum tenure for which the home loan can be availed is 30 years which is a very long period for the repayment of the loan. The HDFC bank home loans provide for all the financing facilities required by the borrower at competitive interest rates and pocket friendly EMIs. Special benefits can be availed by farmers, NRIs and people working in the Indian Army, with the help of HDFC NRI home loan. The HDFC home loan interest rates range between 8.35% and 9.05%.



5. India bulls Home Loan:
   

   India bulls home loan provides home loans to the borrowers at an attractive interest rates ranging between 8.35 and 8.85 percent. The processing fee for which is 0.50% of the entire home loan and this is very much affordable from the point of view of the customers as they can invest in saving and other profitable sources of income. The prepayment and foreclosure charges are NIL in both the cases. The minimum age to apply for India bulls home loans is 21 years be it self employed or salaried and the maximum age is 65 years.



6. LIC Home Loan:
   

   LIC provides long term finance to the borrowers and also provides the benefit of lower interest rates. LIC provides long term finance to the borrowers and also provides the benefit of lower interest rates. The minimum amount of LIC home loan is Rs. 100000. LIC home loan interest rates falls between 8.50%-8.90 percent. The minimum processing fee is 0.50% which is a very minimal amount from the point of view of the customers. Minimum age limit to apply for LIC home loan in case of salaried and self employed is 18 years and the maximum for the same is 60 years.



7. PNB Housing Finance:
   

   PNB Housing Finance provides assistance to the borrowers in the form of home loan products like home construction loans, home extension loans, and home improvement loans along with plot loans. The home loan interest rates of PNB Housing Finance range between 8.55 and 8.65 percent which is very much convenient to pay from the point of view of the customers. The home loan can be availed for a period of 25 years and this is a benefit for all the customers and the borrowers as they can avail the benefit of lesser EMI. PNB home loans provide home loans to the public at fixed as well as floating interest rates. The PNB Housing Home loan can be availed for a maximum period of 25 years which can be beneficial for the borrowers.



8. Standard Chartered Bank Home Loan:
   

   Standard Chartered home loan interest rates are 8.90%. Standard Chartered home loans provide home loans to its customers for a flexible tenure of 20 years which is a longer time for the repayment of loans as longer the loan tenure lesser will be the EMI amount. The processing fee for Standard Chartered Home loan is 0.50% of the loan amount which is a very minimal amount and does not burden the customers with extra payments.



9. Kotak Mahindra Bank Home Loans:
   

   Kotak Mahindra Bank home loan interest rate is 8.60% which is the most attractive feature of the Kotak Mahindra Bank home loan. The maximum tenure for the repayment of the home loan is 20 years which is quiet long duration for the repayment of the loan. The processing fee for the home loan is 0% along with NIL prepayment and foreclosure charges and this is another benefit of the Kotak Mahindra Bank Home loan.



10. Reliance Home Loan:
    

    The Reliance home loan interest rates range from 10% to 11%. The minimum age to apply for Reliance home loan is 21 years for both the salaried as well as the self employed and the maximum age is 60 in case of salaried and 65 in case of self employed. The maximum tenure for which the home loan can be availed is 30 years which is a very long tenure for the repayment of the home loan.