Home Loans in
Visakhapatnam
Visakhapatnam or Vizag, the beautiful coastal city in India located in Andhra Pradesh, has all that a person needs for a comfortable living. Scenic beauty, infrastructure development, economic opportunities, and education opportunities all add to the real estate investment potential of Visakhapatnam. One can buy a home here with an easy home loan in Visakhapatnam starting at 8.45% per annum. Banks and housing finance companies usually charge a processing fee starting at 0.25% or 0.50% of the loan amount to process a home loan application.
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 Visakhapatnam
The first thing that a home loan applicant will ever check when applying for a home loan is its interest rate because that will play a deciding factor in the affordability of a property. The lowest home loan interest rates in Visakhapatnam begin at 8.45% per annum, offered by the Bank of India. While a majority of lenders offer home loans in Vizag or Visakhapatnam for up to 30 years, some also allow borrowers to repay the loan amount in 40 years. Now, we recommend you proceed further and look at the processing fee and home loan interest rates of 10 prominent banks and housing finance companies in Visakhapatnam:
| BASIC Bank/NBFC Partner Name | Max Tenure (in years) | Rate of Interest | Processing Fees (INR) | Contact |
|---|---|---|---|---|
 Bank of India | 30 | 8.45% | Up to 0.25% of the loan amount (Min: Rs. 1,500; Max: Rs. 20,000) | |
 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) | |
 Indian Overseas Bank | 30 | 9.35% | 0.50% of the loan amount | |
 YES Bank | 35 | 9.40% - 10.25% | 1.5% of the loan amount (Maximum: Rs. 10000) + GST | |
 India Shelter | 20 | 10.50% onwards | Up to 2.50% of the loan amount | |
 State Bank of India | 30 | 9.15% - 12.95% | Up to 0.25% (Rs. 10,000 max) | |
 Tata Capital Ltd. | 30 | 8.95% onwards | 0.25% of the loan amount (Max: Rs. 3,540) |
Eligibility Criteria for Home Loans in Visakhapatnam
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 Visakhapatnam
Whether it is the need to check your eligibility based on your age, income, or address, a lender will check these through relevant documents. Therefore, document submission is integral to a home loan application procedure. So, make sure to go through the list of documents required for home loan in Visakhapatnam shared below before applying for a housing loan:
|
|
| 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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