Home Loan in Sikar
Looking for the best home loan in Sikar? Compare leading banks offering low-interest rates, simple documentation, and flexible repayment terms. Get the most affordable home loan for your dream home. Apply now for quick approval and seamless processing in Sikar with top lenders and financial institutions!
Sikar’s dream homes await your investment. The historic city, home to 27.7 lakh people across 4.4 lakh households, provides many home financing options that make homeownership possible.
Trusted financial institutions have made Sikar their home to help with your housing needs. Bank/NBFCs reward high CIBIL scores with competitive interest rates ranging from 8.50% to 9.15%. Your EMIs become more manageable with loan tenures extending up to 30 years.
These institutions welcome both salaried professionals and self-employed individuals from all income groups. The available loan options include:
- Home purchase loans
- Land purchase and construction loans
- Home improvement loans
- Home extension loans
A home loan in Sikar becomes even more attractive with government schemes. The Pradhan Mantri Awas Yojana (PMAY) scheme can make your dream home more affordable if you qualify.
Your journey toward homeownership starts with a simple step. Lenders provide doorstep services and straightforward application processes. You can visit local branches or apply through official websites. A quick SMS or call to customer service will connect you with representatives ready to guide you through the process.
Home Loan Interest Rate in Sikar
Getting to know home loan interest rates in Sikar is a vital part of smart borrowing. Lenders now offer competitive rates that range from 8.35% to 11.50% p.a., and several factors determine what rate you’ll get.
Major lenders in Sikar offer these home loan interest rates:
| Lender | Home Loan Interest Rates In Sikar | 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 |
Your credit score greatly influences your interest rate. To cite an instance, a credit score of 825 or above could get you rates between 8.5% to 9%. Scores under 700 might lead to rates above 10.25%.
The choice between fixed and floating rates depends on these important factors:
- Fixed rates stay the same throughout your loan term, so you’ll know exactly what your EMIs will be
- Floating rates change with market conditions and usually start lower than fixed ones
- Banks often switch fixed rates to floating after a set time
A larger down payment helps you get the best housing loan in Sikar. You’ll borrow less and might qualify for better interest rates. A good relationship with your lender and steady income can help you negotiate better rates too.
Note that Bajaj FinServ offers the lowest home loan interest in Sikar at 8.00%. But rates change based on your profile and market conditions, so you should compare what different lenders offer before you decide.
Eligibility Criteria for Home Loans in Sikar
You must understand if you meet the simple eligibility requirements before applying for a home loan in Sikar. Lenders assess multiple factors to ensure you can manage your loan repayments comfortably while you retain control of your finances.
A complete breakdown of eligibility criteria from major lenders in Sikar shows:
| 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 |
Your housing loan in Sikar eligibility depends on these essential factors:
- Your repayment capacity based on current income and expenses
- Number of dependents and existing financial obligations
- Assets and liabilities assessment
- Savings habits and financial discipline
Lenders determine your qualifying loan amount by analyzing your individual requirements and financial profile. Your income stability, age, and income source continuity play crucial roles. To cite an instance, government employees might qualify for special schemes with more flexible criteria.
A good credit score and properly organized documents will boost your loan approval chances. Note that meeting minimum criteria doesn’t guarantee loan approval – lenders assess each application based on their internal policies and risk assessment guidelines.
How to Apply for a Home Loan in Sikar
Looking to get a home loan in Sikar? The application process becomes easy once you know what to do. Here’s a simple guide to help you get your housing finance without any hassles.
Most lenders take 15-30 days to process your application. You can apply either online or offline, and many lenders will even come to your doorstep to make things easier for you.
Let’s look at what you need to do to get your housing loan in Sikar:
- Fill the loan application form with personal and financial details
- Submit required documents and pay processing fees
- Complete property evaluation and legal verification
- Review and sign loan agreement
- Receive loan disbursement
| Essential Documents | Additional Requirements |
| Identity Proof (Aadhar/PAN) | Property Documents |
| Address Proof | Bank Statements (6 months) |
| Income Proof (3 months) | ITR (2-3 years) |
| Employment Details | Property Insurance |
Salaried employees need to show their last three months’ salary slips and Form 16. Self-employed professionals should provide business proof and ITR from the previous three years.
The processing fees usually range from 0.25% to 0.50% of your loan amount. A ₹15 lakh loan would cost between ₹3,750 to ₹7,500 in processing charges.
A pre-approved home loan can speed up your application. You’ll know your budget in advance and can select properties faster. Sikar’s lenders offer this option to make your house-hunting more focused and easier.
Make sure you check all property documents really well before submission. Your lender will check the property’s technical and legal aspects to protect your investment. A good credit score helps you get quick loan approval, so keep your report ready.
Tax Benefits On Home Loan Rates In Sikar
A home loan in Sikar becomes more appealing with its substantial tax benefits. Smart tax planning with your housing loan helps you reduce your annual tax burden while you build your dream home.
The old tax regime offers these major deductions:
| Section | Type of Deduction | Maximum Limit |
| 80C | Principal Repayment | ₹1,50,000 |
| 24(b) | Interest Payment | ₹2,00,000 |
| 80EEA | Additional Interest | ₹1,50,000 [211] |
You can claim interest deduction up to ₹2,00,000 annually for self-occupied property. Properties that are let out have no upper limit on interest deduction, though the set-off of losses against other income stays restricted to ₹2,00,000.
Your tax benefits multiply with a housing loan in Sikar taken jointly with your spouse. Each co-borrower can claim:
- Principal repayment deduction up to ₹1.5 lakh under Section 80C
- Interest payment deduction up to ₹2 lakh under Section 24(b)
Key points to keep in mind:
- Retain Section 80C benefits by not selling the property within 5 years of possession
- Maximum interest benefits need construction completion within 5 years of loan sanction
- Under-construction properties allow pre-construction interest claims in 5 equal installments after completion
The new tax regime doesn’t offer these deductions except for interest deduction on let-out properties. A tax professional can help you choose the regime that maximizes your savings based on your situation.
