Home Loan in Jalandhar
Looking for the best home loan in Jalandhar? Compare top lenders offering low-interest rates, flexible tenures, and minimal documentation. Secure affordable financing to turn your dream home into a reality. Apply today for fast approval and smooth processing with leading banks in Jalandhar!
Getting your dream home in Jalandhar is now easier with available home loan options. You can purchase a new property or build your own house as banks and housing finance companies provide solutions that match your needs.
Home loans now come with interest rates starting at 8.45% per annum. This makes property ownership more affordable than before. Home loans in Jalandhar come with several attractive features:
| Key Features | Details |
| Maximum Tenure | Up to 30 years |
| Processing Fee | Up to 0.50% |
| Interest Type | Fixed or Floating |
Women borrowers can enjoy extra benefits. A woman’s application comes with an additional interest rate concession of 0.05% compared to other borrowers. Applications work both ways – as an individual or a co-applicant. This makes the path to homeownership smoother.
Loan options offer great flexibility. You can pick between floating and fixed interest rates based on your financial plans. This helps you manage your long-term commitments better and adapt when market conditions change.
Ready to take the first step? Leading banks and housing finance companies in Jalandhar are ready to help. It’s worth mentioning that comparing different lenders will help you get the best terms for your home loan.
Home Loan Interest Rate in Jalandhar
Interest rates play a significant role in your home loan in Jalandhar journey. These rates determine your monthly payments and total loan cost, which currently range from 7.50% to 11.50% p.a..
The numbers make more sense with a real example. A 20-year home loan of ₹90 lakhs at 7.9% interest requires a monthly EMI of ₹74,720. A better rate of 7.1% reduces your EMI to ₹70,861, which saves you money substantially over time.
Major lenders in Jalandhar offer these home loan interest rates:
| Lender | Home Loan Interest Rates In Jalandhar | Processing Fees & Charges | Maximum Loan Amount | Maximum Loan Tenure |
| Aavas Financier Limited Home Loan | 8% | 2% | – | 30 Years |
| Aditya Birla Capital Home Loan | 9% – 12.50% | 1% | 10 Crores | 30 Years |
| Andhra Bank Home Loan | 8.15% – 9.20% | 0.50% or ₹15000 + GST (whichever is lower) | – | 30 Years |
| Axis Bank Home Loan | 8.75% – 14% | 1% | 10 Crores | 30 Years |
| Bank of Baroda Home Loan | 8.50% – 10.60% | 0.25%- 0.50% | 10 Crores | 30 Years |
| Bank of India Home Loan | 7.80% – 9.65% | – | 7.50 Crores | 30 Years |
| Bank of Maharashtra Home Loan | 8.40% | 0.25% or 25,000 (whichever is lower) | 1 Crore | 30 Years |
| Canara Bank Home Loan | 8.85%- 11.25% | ₹1,500 – ₹10,000 | 3 Crores | 30 Years |
| Central Bank of India Home Loan | 8.45% – 9.20% | 0.50% or ₹20,000 + GST (whichever of lower) | 75 Lakhs | 30 Years |
| DBS Home Loan | 8.25% – 9.75% | – | 5 Crores | 25 Years |
| Dena Bank Home Loan | 8.25% – 8.35% | 0.50% | 1.5 Crores | 30 Years |
| Dhanalakshmi Bank Home Loan | 7.2% | 1% or ₹10,00 + GST (whichever is higher) | 1 Crore | 30 Years |
| DHFL Home Loan | 8.75% | – | 5 Crore | 30 Years |
| Federal Bank Home Loan | 10.15% – 10.30% | – | 15 Crores | 30 Years |
| HDFC Ltd. Home Loan | 8.50% – 9.60% | 0.50% or ₹3000 (whichever is higher) | 10 Crores | 30 Years |
| IDBI Bank Home Loan | 8.75% – 11.45% | – | 10 Crore | 30 Years |
| IDFC First Bank Home Loan | 8% – 14% | 3% | 10 Crores | 30 Years |
| Indiabulls Home Loan | 8.75% | 1% | 2 Crores | 30 Years |
| Indian Overseas Bank Home Loan | 9.55% | – | – | 30 Years |
| India Shelter Finance Corporation Home Loan | 13% – 20% | 2% – 3% + GST | 50 Lakhs | 20 Years |
| Jammu and Kashmir Bank Home Loan | 8% | 0.25% + GST | 50 Lakhs | 30 Years |
| Karnataka Bank Home Loan | 9.08% – 10.38% | 0.50% – 2% | 5 Crores | 30 Years |
| Karur Vysya Bank Home Loan | 9.23% – 12.13% | ₹2500 – ₹7500 + GST | – | 25 Years |
| Kotak Mahindra Bank Home Loan | 8.85% – 9.40% | 0.50% | 10 Crores | 20 Years |
| LIC HFL Home Loan | 8.70% | 0.30% onwards | 10 Crores | 30 Years |
| PNB Housing Home Loan | 8.50% – 10.85% | – | 2 Crores | 30 Years |
| Reliance Home Finance Limited Home Loan | 9.35% – 13% | 0.50% – 1.50% | – | 20 Years |
| South Indian Bank Home Loan | 7.95% – 9.60% | 0.50% + GST | 15 Crores | 30 Years |
| State Bank of India Home Loan | 9.55% | ₹2000 – ₹10000 + GST | 5 Crores | 30 Years |
| Sundaram Home Finance Ltd Home Loan | 6.95% – 8.30% | 0.50% | 4 Crores | 25 Years |
| Tamilnad Mercantile Bank Home Loan | 9.10% – 9.60% | 0.50% | 5 Crores | 30 Years |
| Tata Capital Limited Home Loan | 8.95% | 2% | 5 Crores | 30 Years |
| Union Bank Home Loan | 8.75% | 0.50% or ₹15000 + GST (whichever is lower) | – | 30 Years |
| Yes Bank Home Loan | 9.15% – 11.25% | 1.5% – ₹10000 (whichever is higher) | 10 crores | 35 Years |
Banks look at several factors to determine your final interest rate:
- Your credit score and income
- Loan amount and tenure
- Type of interest rate (fixed or floating)
- Current RBI repo rate
Eligibility Criteria for Home Loans in Jalandhar
Qualifying for a home loan in Jalandhar requires you to meet specific eligibility requirements that lenders have set. You should know if you meet the simple criteria that banks expect from borrowers before you start your home loan experience.
Here’s a complete breakdown of eligibility requirements:
| Criteria | Salaried Individuals | Self-Employed |
| Age Limit | 21-65 years | 21-65 years |
| Minimum Income | Minimum Rs. 10,000/ monthly | Minimum Rs. 2 lakh/ yearly |
| Work Experience | 2 years minimum | 3 years in business |
| Credit Score | 750 or above | 750 or above |
You can increase your chances of loan approval by applying for a joint home loan in Jalandhar. These co-applicants are acceptable:
- Your spouse
- Parents
- Siblings
Your eligible loan amount typically depends on:
- Your monthly income (65% of gross income considered)
- Property value (up to 90% for loans under ₹30 lakh)
- Credit score and repayment history
Pro tip: A co-applicant can help you qualify for a higher loan amount. A credit score above 750 improves your chances of loan approval at better interest rates by a lot.
Banks may have slightly different criteria, but good credit health and stable income remain essential requirements to secure a home loan in Jalandhar.
How to Apply for a Home Loan in Jalandhar
Want to buy a home in Jalandhar? The home loan application process has become quick and accessible with online and offline options. Here’s a simple guide to help you get your home loan in Jalandhar.
You’ll need these important documents to start:
| Document Type | Required Papers |
| Identity & Address | PAN card, Aadhaar, Voter ID |
| Income Proof | 6 months bank statements, Form 16 |
| Property Papers | Sale agreement, NOC, Title deeds |
| Business Proof | License, GST returns (self-employed) |
Getting your home loan is simple. Just follow these steps:
- Submit Your Application: Complete the loan application form with your documents. Banks accept applications through their websites and branches.
- Pay Processing Fee: The processing fee ranges from 0.25% to 0.50% of your loan amount.
- Verification Process: Your bank will:
- Verify your documents
- Check your credit score
- Conduct property assessment
- Loan Approval: You’ll get a sanction letter with your approved amount and interest rate after verification.
- Final Documentation: Sign the loan agreement and submit original property papers. Your bank releases the funds based on your property’s construction stage.
Pro tip: Save digital copies of all documents before you apply. This makes online submissions faster and helps you track your application easily.
Tax Benefits On Home Loan Rates In Jalandhar
A home loan in Jalandhar becomes more appealing with its tax benefits. Your loan can help you save money through tax deductions under different sections of the Income Tax Act.
Let’s look at ways to maximize your tax savings through your home loan in Jalandhar:
| Tax Section | Component | Maximum Deduction |
| Section 80C | Principal Repayment | ₹1.5 lakh/year |
| Section 24(b) | Interest Payment | ₹2 lakh/year |
| Section 80EEA | Additional Interest | ₹1.5 lakh/year |
Your tax benefits are:
- Principal Repayment Benefits:
- You can claim up to ₹1.5 lakh annually under Section 80C
- This limit also covers stamp duty and registration charges
- Interest Payment Deductions:
- You get deductions up to ₹2 lakh yearly on self-occupied property
- Rented properties have no upper limit
Special Benefits for First-Time Buyers: First-time buyers can claim an extra ₹50,000 under Section 80EE. The loan amount should be under ₹35 lakh and property value must not exceed ₹50 lakh.
Pro tip: Joint home loans offer double benefits. You and your co-borrower can claim these deductions separately. This makes your home loan in Jalandhar an economical solution.
Note that you’ll need all loan statements and payment receipts during tax filing season. These documents help you claim your deductions without any hassle.
