Home Loans in
Madurai
Offering a blend of modernity and tradition, Madurai is an ideal place to invest in a residential property. You can do this by applying for an affordable home loan in Madurai because plenty of banks and non-banking financial companies are ready to help you with exciting housing loan schemes. The home loan interest rate in Madurai starts at 8.50% per annum. The standard processing fee that you may expect to pay with a home loan application form is between 0.25% and 0.50% of the loan amount and higher in some cases. This is not all; you get up to 30 years to repay the loan amount at several eminent banks and NBFCs in Madurai.
Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
Home Loan Interest Rates in Madurai
The most affordable home loan interest rate in Madurai starts at 8.50% per annum, offered by LIC HFC. This is then followed by other popular banks and NBFCs to offer home loans at an 8.60% per annum rate of interest and so on. You may expect an additional concession on home loan interest rates for women borrowers at some of these lenders. For your convenience, we are now highlighting the rate of interest on home loans and processing fees for the top 10 lending banks and NBFCs in Madurai:
| BASIC Bank/NBFC Partner Name | Max Tenure (in years) | Rate of Interest | Processing Fees (INR) | Contact |
|---|---|---|---|---|
 LIC HFC | 30 | 8.50% | Up to 0.25% (Max: Rs. 25,000) | |
 L&T Finance | 25 | 8.60% | Up to 3% of the loan amount + GST | |
 Bank of Baroda | 30 | 8.60% | 0.50% (Min: Rs. 8,500; Max: Rs. 25,000) | |
 HDFC Bank | 30 | 8.65% - 9.85% | Up to 0.25% (Min: Rs. 3,540) | |
 PNB Housing | 30 | 8.75% onwards | Up to 0.50% (Max: Rs. 10,000) | |
 Federal Bank | 30 | 8.80% onwards | 0.50% of the loan amount (Rs. 3,000 + GST min; Rs. 7,500 + GST max) | |
 IDFC First Bank | 30 | 8.85% onwards | 0.25% - 0.50% of the loan amount | |
 Tata Capital Ltd. | 30 | 8.95% onwards | Up to 0.25% (Max: Rs. 3,540) | |
 State Bank of India | 30 | 9.15% - 12.95% | Up to 0.25% (Rs. 10,000 max) | |
 Bajaj Housing | 40 | 8.50% | Up to 7% of the loan amount + GST |
Eligibility Criteria for Home Loans in Madurai
These criteria are subject to variation from one bank to another. It is recommended that you check with the specific bank you are applying to for a home loan for its eligibility requirements.
Documents Requirement for Home Loans in Madurai
Document submission is one of the main steps in the home loan application procedure. After all, through these KYC documents, the lender can trust you as a worthy borrower and grant loan approval to you for buying or renovating a home. Whether you are a salaried or a self-employed applicant applying for a home loan, make sure to go through the list of documents required for home loan in Madurai:
|
|
| Proof Of Residency | Aadhaar Card, Valid Passport |
| Proof Of Income | Bank Passbook, Bank statement, Last 3 years IT Return |
| Proof Of Age | PAN Card, Voter ID, Birth Certificate, Registration Certificate Of Establishment |
| Proof Of Employment | Certified Letter from Employee/Company Memorandum |
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