Coimbatore is one of the fastest-growing cities in India and a major textile and auto manufacturing hub. If you are planning to buy your new house in Coimbatore, you can easily avail a house loan in Coimbatore from Bajaj MARKETS at really affordable interest rates starting from just 6.99% per annum. The application process is seamless and hassle-free and can be completed online with minimal documentation. What’s more? You can also get a balance top-up in case you need more money than the borrowed amount.
Below is a list of the current housing loan interest rates and charges for all leading banks and Housing Finance Companies (HFCs) in Coimbatore:
Bank Name |
Starting Interest Rate (p.a.) |
PNB Housing Finance Home Loan |
8.50% p.a. onwards |
ICICI Bank Home Loan |
8.75% p.a. onwards |
Bajaj Housing Finance Home Loan |
8.60% p.a. onwards |
UBI Home Loan |
8.60% p.a. onwards |
HFFC Home Loan |
9.50% p.a. onwards |
Disclaimer: The rates mentioned above are subject to change. You must always check with the lender before applying. Additionally, the final interest rate applicable to you will depend on factors such as your repayment tenor, age, monthly income, and CIBIL score.
Some of the salient features and benefits of a Housing Loan availed through Bajaj MARKETS are:
Interest rates for home loans in Coimbatore start from just 6.99% per annum
Repayment tenure can go up to 30 years
You can avail up to 90% of the property value as a home loan
Balance transfer facilities are available if you want to take advantage of lower interest rates offered by other lenders
You can also avail a top-up of up to ₹1 Crore on your existing home loan
You can prepay a part of your home loan or the entire outstanding balance with zero extra charges if the loan was availed at a floating interest rate
The following table lists down some of the top home loan providers in Coimbatore along with their addresses and contact information.
Home Loan Lenders |
Address |
Contact Information |
Bajaj Housing Finance Limited |
104, Excellence 1st floor, Race Course Rd, Near Taj Hotel, Coimbatore, Tamil Nadu 641 018 |
020 3957 4151 |
Home First Finance Company (HFFC) |
No. 42/25, Ahuja Towers, W TV Swamy Rd, R.S. Puram, Coimbatore, Tamil Nadu 641 002 |
0422 434 2240 |
PNB Housing Finance Limited |
1112, Raja Plaza,2nd Floor, Laxmi Mill Junction, Coimbatore, Tamil Nadu 641 037 |
0422 224 0322 |
Union Bank of India |
1st, 235, Oppanakara St., Town Hall, Coimbatore, Tamil Nadu 641 001 |
0422 239 6232 |
ICICI Bank |
Cheran Plaza, 1090, Trichy Rd, Coimbatore, Tamil Nadu 641 018 |
073056 67777 |
To get a home loan in Coimbatore, you must satisfy the below-mentioned eligibility criteria:
Employment Status |
You must either be a salaried person or a self-employed individual |
Nationality/Residency |
Indian (permanent resident or non-residenti Indian (NRI) or a person of Indian origin (PIO)) |
Age |
21 or above |
Credit Score |
750 or above |
Work Experience |
Salaried: 3 years Self-Employed: 3 Years |
KYC Documents: Passport, PAN card, voter’s ID, driving licence, Aadhaar card
Income Proof: Last 3 months’ salary slips or a copy of the latest Form-16
Property documents like the sale deed and occupancy certificate
KYC Documents: Aadhaar card, Voter’s ID, passport, PAN card, driving licence
Income Proof: Income Tax Returns of the past 3 years
Balance sheet and Profit and Loss account statements of the business for the past 3 years
Savings’ account statements for the past 3 years and the current account statement of the corporate entity
Latest copy of the Form-26AS
Singanallur: It is one of the posh localities in Coimbatore. Singanallur is located in close proximity to Coimbatore airport and is home to some of the best restaurants in the city. Moreover, there are also many reputed schools and shopping complexes in Singanallur.
Gandhipuram: The locality is in close proximity to some major IT companies. The presence of some of the best restaurants and shopping malls as well as premium educational institutions and hospitals make Gandhipuram one of the best residential localities in Coimbatore.
Trichy Road: Located near the Coimbatore airport, Trichy Road is known as one of the most luxurious localities in the city. From shopping malls to premier educational institutes and hospitals, you will find all the amenities in the neighbourhood. Given the amenities and facilities, the housing prices are quite high in the region.
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 does it reduce 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 of the property is approved by the authorised local body. 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.
There are many housing projects of the Central government and the Government of Tamil Nadu that you can benefit from in Coimbatore. Some of the government housing projects in Coimbatore are:
EMI for a home loan in Coimbatore = [P x r x (1 + r) ^n] / [(1 + r) ^(n-1)]
where,
‘P’ is the principal loan amount,
‘R’ is the interest rate, and,
‘N’ is the loan tenor in months.
Alternatively, you can also use the Housing Loan EMI Calculator available on Bajaj MARKETS to calculate your Home Loan EMI with absolute ease.
You can apply for a housing loan in Coimbatore through Bajaj MARKETS. All you must do is feed in your personal information, share details regarding your property, submit the required documents, and undergo a verification process. Then, wait for a customer service representative to get in touch with you regarding the same.
The lowest housing loan interest rate on a home loan in Coimbatore is 6.99% p.a.
It takes at least two weeks to get a home loan processed and disbursed in Coimbatore. The time taken to disburse the loan mainly depends on the validity of the documents submitted, the loan amount, and the overall creditworthiness of the applicant.
You must have a monthly income of at least ₹22,000 to get a home loan in Coimbatore.