Purchase, construction, balance transfer & top-up
Home loans, compared across banks and NBFCs
A home loan is the largest borrowing most families take, and it usually runs for 15 to 30 years. On a ₹50 lakh loan over 20 years, a difference of just 0.5% in the rate changes the total interest by several lakh rupees — which is why comparing lenders properly matters more here than for any other loan.
RateWise helps you buy a ready flat, an under-construction property, a plot plus construction, or shift an existing home loan to a lender offering better terms. We are an advisory, not a lender: the bank or NBFC decides the final sanction, rate and fees.
- Indicative rate from
- 8.35%
- Typical amount
- ₹5 L – ₹10 Cr
- Tenure
- Up to 30 years
Rates are indicative and depend on your profile, lender policy and benchmark rates. Final terms are set by the lender.
Who this loan is for
- Salaried employees buying their first or second home
- Self-employed professionals and business owners with ITR-based income
- Existing borrowers paying a rate noticeably above current offers
- Families building a house on their own plot in the Tricity
Eligibility
- Age 21–65 at loan maturity (varies by lender)
- Stable income — 2 years of work or business continuity is typical
- CIBIL score of 700+ preferred; lower scores narrow the lender list
- Property with a clear, marketable title and approved plans
Documents commonly required
- PAN, Aadhaar and address proof
- Salaried: last 3 months salary slips and Form 16
- Self-employed: 2–3 years ITR with computation and financials
- 6–12 months bank statements
- Property papers — agreement to sell, allotment letter, approved map
What affects your interest rate
- Credit score and repayment history
- Income type — salaried profiles usually get finer pricing than self-employed
- Loan-to-value: a larger down payment can lower the rate
- Property type and location, including approval status of the colony or project
- Floating vs fixed rate, and the lender's external benchmark (usually the RBI repo rate)
How RateWise compares lenders
We compare the effective cost, not just the headline rate — processing fee, legal and valuation charges, insurance bundled with the loan and any conversion fees.
We check which lenders approve your specific project or colony before you apply, so the file isn't rejected at the legal stage.
For balance transfers, we calculate whether the saving over the remaining tenure is worth the switching costs.
How the application works
01
Share your profile
A short call or WhatsApp chat about income, existing EMIs and what you need. No documents at this stage.
02
Shortlist lenders
We match your profile to the lenders whose policy fits and apply only where approval is realistic.
03
Compare offers
Sanctions are compared on rate, processing fee, insurance, prepayment terms and tenure — not rate alone.
04
Valuation, legal and disbursal
We coordinate property valuation, legal checks and signing with the lender until the money is disbursed.
Common mistakes to avoid
- Choosing the lender the builder suggests without comparing others
- Accepting bundled life or property insurance without checking its cost
- Applying at several banks at once, which adds multiple hard enquiries to your credit report
- Stretching the EMI to the maximum eligible amount with no buffer
Estimate your EMI
₹30,00,000
8.50%
20 years
Monthly EMI
₹26,035
- Principal
- ₹30,00,000
- Total interest
- ₹32,48,327
- Total payable
- ₹62,48,327
Use this calculator to estimate your EMI. Actual EMI depends on the final sanctioned amount, interest rate and tenure offered by the lender.
Want to know what rate you may qualify for?
Check My RateHome Loan FAQs
How much home loan can I get?
Most lenders fund up to 75–90% of the property value depending on the loan size, and keep your total EMIs within roughly 50–60% of net monthly income. We work out a realistic figure from your income and existing EMIs.
Can I transfer my existing home loan to another bank?
Yes. A balance transfer moves your outstanding loan to a new lender, often with an optional top-up. It makes sense when the rate gap and remaining tenure are large enough to outweigh the new lender's fees.
Are there charges for prepaying a floating-rate home loan?
RBI rules do not allow lenders to charge prepayment or foreclosure penalties on floating-rate home loans taken by individuals. Fixed-rate loans may carry charges — check the sanction letter.
How long does home loan approval take?
Typically 7–15 working days, mostly driven by property valuation and legal verification. A complete, consistent file is the single biggest factor in speed.