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✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 7.70%

Also known as the silicon valley of India, Bangalore is home to several new-age start-ups in the country. People prefer to settle in Bangalore majorly due to the competitive employment opportunities it offers and the favourable weather conditions. If you wish to buy a house in this city, you can easily avail a home loan at Bajaj MARKETS.

You can get a housing loan in Bangalore of up to ₹15 Crores for a tenure of up to 30 years at really affordable interest rates starting from 7.10% per annum.

Compare Home Loan Interest Rate Offered by Various Banks & HFCs in Bangalore

Below is a list of the current housing loan interest rates and charges for all leading banks in Bangalore:

 

Bank Name

Starting Interest Rate (p.a.)

UBI Home Loan

7.40% onwards

Bajaj Housing Finance Home Loan

7.10% onwards

ICICI Bank Home Loan

7.60% onwards

PNB Housing Finance Home Loan

7.50% onwards

HFFC Home Loan

11.90% onwards

Shubham Housing Finance

11.90% onwards

LIC Housing Finance

7.50% onwards

 

Disclaimer: Interest rates are subject to change. Please check with the lender before applying.

Check details about home loan interest rate here.

Top Home Loan Providers in Bangalore

You can avail a home loan in Bengaluru from any of our partner lenders. Here is a list of our lending partners along with the address and contact information.

 

Home Loan Lenders

Address

Contact Information

Union Bank of India

10/A, Chandra Kiran, First Floor, opposite Cubbon Park Police Station, Bangalore, Karnataka 560 001

080 2295 8261

Bajaj Housing Finance Limited

Bajaj Housing Finance Limited, 4th Floor, KMJ Arcade, beside Airtel Showroom, Marathahalli, Bangalore, Karnataka, 560 038

1800 103 3535

ICICI Bank

ICICI Towers,

1st Floor, West Wing, No1, Commissariat Road,

Bangalore, Karnataka 560 001

1860 120 7777

 

 

PNB Housing Finance Limited

PNB Housing Finance Limited,

Ground Floor Property Bearing No. 5,

Mathrushree Arcade, 100 ft Ring Road 1st Phase,

2nd stage BTM Layout, Bangalore, 560 076

1800 120 8800

 

 

Home First Finance Company (HFFC) Limited

35/29,11th Main,

5th Block, Jayanagar,

opp to Milan Hospital,

JP Nagar Road,

Bangalore, 560 041

080 41236726

LIC Housing Finance

No. 4, 2nd Floor, Canara Mutual Building, Richmond Circle, Bangalore - 560025

080 22960531

 

 5 Best Locations to Buy Property in Bangalore

Bengaluru is one of the prime cities in the country, known particularly for startups and the IT industry. While you can never go wrong with real estate investment in Bangalore, some of the best locations you may consider for buying property in the city are:

  • HSR Layout: The location has excellent connectivity and is in close proximity to Electronic City- the IT hub of Bangalore.

  • Whitefield: It is a posh suburb in Bengaluru that once used to be an Anglo-Indian village. Whitefield is home to numerous shopping malls and multiplexes, making it an ideal place to buy a home in.

  • Indiranagar: It is one of the posh localities in Bengaluru. With a large number of restaurants, hotels and pubs, Indiranagar is one of the best locations for real estate investment in Bangalore.

  • Bellandur: Proximity to the IT hub and an abundant green cover make Bellandur a lucrative place to live in. While most of the projects are steeply priced, you can also find some affordable housing options there.

  • Koramangala: Also known as the best startup hub in the city, Koramangala is another posh neighbourhood in Bengaluru. Koramangala also has good connectivity with other major places in the city.

 Government Housing Projects in Bangalore

There are many housing projects by the central government and the government of Karnataka that you can avail the benefit of. Some of the government housing projects in Bangalore are:

 Things to Consider While Buying a Home in Bangalore

Buying a house is a big-ticket investment and the real estate industry in India is not known to have a very good reputation. Therefore, it is advisable to be very careful before finalising any real estate purchase. Here is a list of a few things that you must keep in mind while buying a house in Bangalore:

  • Location: It is one of the most important aspects to consider before making any real estate investment. The location of your property not only determines its present value but also affects the future prospects of value inflation.

  • Builder’s Reputation: Before you finalise the deal, you must make sure that the builder has a good reputation in the market. Not only that it reduces the chances of fraud, reputed builders also use good quality material for construction and the floor planning is also better.

  • Choose a House With Clear Titles: Check the sale deed and ensure that the layout is approved by Bangalore Development Authority, Bangalore Metropolitan Region Development Authority or Bangalore International Airport Area Planning Authority. Also, check if the builder has a commencement certificate if you are investing in an under-construction apartment.

  • Negotiate for a Better Price: Builders often quote an inflated price. It, therefore, becomes important to bargain so that you may get the best deal possible.

Features and Benefits of Home Loans in Bangalore

Availing a house loan for buying your dream house in Bengaluru has many benefits. Some of the key features and benefits of availing a home loan at Bajaj MARKETS are as follows:

  • Easy Application Process: The application process for a house loan in Bengaluru is really simple and hassle-free. You can compare the house loan offers from various partner lenders and choose the one that fits your needs the best.

  • Affordable Interest Rates: You can avail housing loans at really affordable interest rates starting from as low as 7.10% per annum.

  • Flexible Repayment Tenure: You can choose a repayment tenure of up to 30 years for your house loan depending upon your income and other obligations.

  • Less Documentation: If you apply for a house loan at Bajaj MARKETS, you need not worry about arranging heavy paperwork and documents. You can take a loan with minimal documentation, depending upon your occupation.

Eligibility Criteria for Home Loan in Bangalore

The eligibility criteria for a home loan are different for different lenders. Some of the general eligibility conditions applicable for most lenders are:

  • Nationality: You must be a citizen of India.

  • Age: Most lenders require you to be between 21 and 65 years of age.

  • Credit Score: You should have a good credit score, ideally upwards of 750.

  • Type of Employment: You must be either a salaried employee of a private company/PSU or a government employee or a self-employed individual with a regular inflow of income.

  • Work Experience: Many lenders also require you to have a minimum work experience of 3 to 4 years.

Documents Required for a Home Loan in Bangalore

You will need to furnish the following documents while applying for a home loan in Bangalore:

For Salaried Applicants

  • KYC documents: Aadhaar Card, Voter ID Card, PAN card, passport, driving licence, etc.

  • Income Proof: Salary slips for the last 3 months, Bank statement for the past 6 months with salary credits, ITR/Form-16.

  • Property documents like the sale deed.

  • Bank statement showing the repayment history of the person.

For Self-Employed Applicants

  • KYC documents: Aadhaar Card, Voter ID Card, PAN card, passport, driving licence, etc.

  • Income Proof: Income Tax Returns of the past 3 years.

  • Balance sheet and P/L account statements for the last 3 years.

  • Savings account statement of the applicant for the last 3 years and current account statement of the business entity.

  • The latest copy of Form 26AS.

  • Memorandum of Association (MoA) and Articles of Association (AoA) of the company.

FAQs on Home Loan in Bangalore

✔️How to calculate EMI for a Home Loan in Bengaluru?

The home loan EMI depends upon the amount borrowed, the applicable rate of interest and the tenure of the loan. The formula used to calculate home loan EMI is:

E = P*r*(1+r)^n/((1+r)^n-1), where:

  • E is the EMI amount.

  • P is the principal loan amount.

  • r is the rate of interest.

  • n is the tenure or duration of the loan.

✔️How to apply for a Home Loan online in Bangalore?

You can easily apply for a home in Bengaluru online at Bajaj MARKETS. Just visit the Home Loans page on the Bajaj MARKETS website and click on “Apply Now”. Now you will need to provide a few basic details regarding your employment and your contact number. You can compare the loan offers from the various partner lenders at Bajaj MARKETS and choose the one with the lowest interest rates and favourable terms.

✔️What is the lowest interest rate on a home loan in Bengaluru?

You can avail a housing loan in Bangalore at interest rates starting from just 7.1% per annum.

✔️How long does it take to get a housing loan in Bangalore?

If you apply for a housing loan in Bengaluru via Bajaj MARKETS, your application is approved swiftly- usually within a couple of weeks or less.

✔️What is the minimum income requirement to get a home loan in Bangalore?

The minimum income requirement is different for every lender. However, generally, you must have a minimum monthly income of ₹25,000 in order to avail a home loan in Bengaluru.