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

If you plan on buying a home in Hyderabad, you can get a house loan at an interest rate starting at 6.60% p.a.. What’s more, you can secure up to 90% of the property value as a housing loan. On top of that, you can also avail top ups if you need more money than what you have borrowed already. You will also be eligible for special house loan subsidies on home loans in Hyderabad if you are a beneficiary of housing schemes such as the Pradhan Mantri Awas Yojana (PMAY). 

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

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

Bank Name

Starting Interest Rate (p.a.)

Processing Fees

ICICI Bank Home Loan

6.70% onwards

0.50%

PNB Housing Finance Home Loan

6.75% onwards

0.25% - 0.50% (₹10,000)

UBI Home Loan

6.80% onwards

0.50% (Max ₹15,000)

Bajaj Housing Finance Home Loan

6.60% onwards

0.35%

HFFC Home Loan

12% onwards

1% - 1.5% (₹9,990 to ₹21,990 + GST)

 

Check in details about home loan interest rate

Features and Benefits of Home Loans in Hyderabad

Some of the features and benefits of housing loans are as follows:

  • The interest rates at which house loans are offered in Hyderabad start at 6.60% per annum.

  • Repayment tenors can be as high as 30 years.

  • Up to 90% of the value of the property can be availed as a house loan in Hyderabad.

  • You can even avail balance transfer facilities so that you can take advantage of lower interest rates of other lenders.

  • If you are an existing home loan borrower, you can also avail a home loan top up of an amount going up as high as ₹1 crore.

  • As an existing housing loan borrower, you can also avail a home loan overdraft facility if you want to.

  • If the interest rate on your housing loan is calculated as per the floating interest rate system, a part of your house loan can be prepaid by you at zero extra charge. Or, you can even repay it in its entirety.

Top Home Loan Providers in Hyderabad

Some of the top house loan providers with operations in Hyderabad are as follows:

Home Loan Lenders

Address

Contact Information

ICICI Bank

Financial District Branch, Nanakramguda, Plot no 12, Hyderabad, Telangana 500032

1860 120 7777

 

 

PNB Housing Finance Limited

4th Floor, Road No. 2, above Harley Davidson Showroom, Banjara Hills, Hyderabad, Telangana 500034

1800 120 8800

 

 

Union Bank of India

1st Floor, Public Garden Road, 6-1-67/14, NH65, Saifabad, Hyderabad, Telangana 500004

040 2342 0617

Bajaj Housing Finance Limited

Vijaya Sai Towers, 4th Floor, 2-6/11-411, Opp, BJP Office Rd, Kukatpally, Hyderabad, Telangana 500072

1800 103 3535

Home First Finance Company (HFFC) Limited

Office no. 405, 406, Navaketan Complex SD road, Secunderabad, opp. Clock Tower, Hyderabad, Telangana 500003

088979 74678

 

What is the Eligibility Criteria for a Home Loan in Hyderabad?

To get a home loan in Hyderabad, you will have to satisfy the below-mentioned eligibility criteria:

Employment Status

Self-employed professional, Self-employed non-professional or a salaried Individual

Nationality/Residency Status

The applicant must either be an Indian national or a person of Indian origin (PIO)

Age Criteria

21 years or above

Credit Score

750 or above

Work Experience

Salaried professionals must have 3 years worth of experience in a company of repute\. A self-employed person, on the other hand, must have business experience of 3 years at least.


Check your home loan eligibility with the home loan eligibility calculator at Bajaj MARKETS

Documents Required for a Home Loan in Hyderabad

For Salaried Professionals

  • KYC documents: PAN card, voter ID, Passport, Aadhaar card or driving licence

  • Income Proof: Salary slips of past 3 months, Bank statement going back 6 months with salary credits in addition to Income Tax Returns/Latest copy of Form-16 from your employer.

  • Property documents like the sale deed or occupancy certificate

  • Bank statement showing the past repayment history of the applicant

  • A cheque for purpose of the payment of the processing fee

  • Employment contract

For Self-Employed Professionals

  • Income Proof: You will need to furnish Income Tax Returns of the past 3 years and P/L account statements going back 3 years.

  • Savings account statements of the applicant going back at least 3 years in addition to the current account statement of the business entity.

  • Latest copy of your Form 26AS

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

5 Best Locations to buy Property in Hyderabad

Some of the best locations to buy property in Hyderabad are as follows:

  • Miyapur: Located about 23 kilometres from the heart of the city along its north-western fringe, Miyapur is one of the best places in Hyderabad to consider purchasing a property in. Here, the price range for a 3 BHK apartment which is spread out over 1,300 and 2,000 square feet is priced between ₹30-70 lakhs. 2 BHK units, on the other hand, cost between ₹30-40 lakhs.

  • Hitech City: Hitech City is situated about 18 kilometres from the heart of the city along its north-western fringe. The price range of a 3 BHK apartment in this area is between ₹70 lakhs to ₹1.5 crore. 2 BHK homes, on the other hand, will cost between ₹30-50 lakh.

  • Kondapur: Kondapur is about 20 kilometres away from the heart of the city along its north-western fringe and has become increasingly prominent over the years because of its proximity to the IT hub of the city. The price range in which you will find a 3 BHK apartment here is between ₹50 lakh to ₹1 crore. 2 BHK residential establishments will cost anywhere between ₹30-50 lakhs.

  • Gachibowli: Gachibowli is known for its numerous business parks and tech company offices and is also home to the University of Hyderabad. The prices at which you will find a 3 BHK apartment in this locality will be between ₹50 lakh to ₹1 crore. 2 BHK homes, on the other hand, can be purchased for anywhere between ₹30-60 lakhs.

  • Manikonda: Manikonda is about 16 kilometres away from the heart of the city. One of the things that this locality is known for is the number of software company headquarters it houses. The price range in which you will find a 3 BHK here would be anywhere between ₹40-80 lakhs. On the other hand, 2 BHK units with an area between 1,000 to 1,500 square feet will cost between ₹20-40 lakhs.

Things to Consider While Buying a Home in Hyderabad

  • Know what you want: You should know the purpose of your home purchase. Do you want to be able to communicate hassle-free? Or, do you want to be near schools, hospitals and shopping malls so that your family has access to it all? Or do you just want a quiet place for yourself? You should ask all of these questions to yourself. Once you have all the answers to them, you should go for a property in Hyderabad that will fit your needs best.

  • Locality: If you want to be close to schools, shopping malls or movie theatres, consider buying a house in a locality that has them all or is close to such establishments. If you want to have easy access to public transport or be close to railway lines, consider taking a house in an area that has all of them.

  • Security: You should also consider buying a property that has security cameras, alarm systems, round-the-clock-security and smoke detectors for your safety as well as that of your family.

  • Legal clearances: Additionally, you should ensure that the building that you are buying the house in has the necessary legal clearances from relevant local authorities. These clearances are the likes of your Encumbrance Certificate and Occupancy Certificate in addition to all the safety-related permissions from local municipal bodies. In addition to that, you must check if there are any disputes over the property you intend on buying.

Government Housing Projects in Hyderabad

The 2BHK Housing Project: The government of Telangana has put the double bedroom housing scheme into force during the month of October 2015 with the objective of providing dignity to the poor by providing 100% subsidised housing. Under this scheme, the beneficiary has to contribute nothing, which makes this scheme one of a kind. It is due to the fact that in rural areas, beneficiaries solely depend on seasonal conditions for their earnings, which is why the 2BHK housing project exists today. The project has protected people from debt traps.

Home Loan in Hyderabad FAQs

✔️How is EMI calculated for a home loan in Hyderabad?

EMI for a home loan in Hyderabad= [P x r x (1 + r) ^n] / [(1 + r) ^(n-1)]

Where,

‘P’ is the borrowed loan amount

‘R’ is the rate of interest, and

‘N’ is the loan repayment tenor (In months).

You can also alternatively use the Home Loan EMI calculator which is available on Bajaj MARKETS.

✔️How to apply for a home loan in Hyderabad?

You can apply for a housing loan in Hyderabad through Bajaj MARKETS itself. All that you will need to do is help yourself to the page, fill up your personal details, share information regarding your property, and then finally, submit the required documents and then undergo a verification process. After that, wait for a customer service representative to get in touch with you concerning the same.

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

The lowest interest that a house loan in Hyderabad attracts is 6.60% p.a.

✔️How long does it take to get a home loan in Hyderabad?

It could possibly take up to two weeks to get a house loan in Hyderabad. The time taken to disburse a housing loan in Hyderabad majorly depends on the validity of the documents submitted, the loan amount borrowed and the overall repayment capacity of the applicant.

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

You must earn a monthly income of ₹22,000 at the very least to get a housing loan in Hyderabad.