Home Loan
- All you Need to know
A home loan empowers individuals to buy, construct, or renovate a residential property through structured monthly repayments. At BASIC Home Loan, we assist borrowers with eligibility checks, bank comparisons, documentation, and disbursement guidance so they make home loan decisions with confidence.
What is a Home Loan?
A home loan is a secured loan provided by banks or NBFCs to help individuals purchase, build, or renovate a residential property. The lender/financial institution provides a significant share of the property's cost, up to 80%, and in some cases, up to 90%, whereas the individual taking the loan is responsible for paying the required preliminary sum, also known as the down payment. The amount borrowed is paid back in monthly installments called EMIs, which cover both the principal and interest over a specified period called tenure.
Home Loan: Who is it For?
Home loans are suitable for salaried employees, self-employed professionals, business owners, and eligible NRI applicants planning to own residential property in India.
Typical Home Loan Amount Range
Home loan amounts generally start from 10 lakhs and can extend to 16 crore rupees, depending on income, repayment capacity, and property value.
Typical Home Loan Tenure Range
Home loan repayment tenures usually range between 5 years and 30 years depending on lender policy and borrower eligibility.
Starting Home Loan Interest Rates
Home loan interest rates generally start from 7.15% and vary based on borrower profile, lender policies, and prevailing market conditions.
Why Choose a Home Loan Advisor?
Selecting a home loan involves far more than comparing interest rates. Each bank follows different approval rules, documentation standards, and property acceptance criteria. A home loan advisor brings structure, comparison, and personal guidance into the process. Below is an illustrative comparison across three popular lender categories
Public Sector Bank
Stable and policy linked
Process driven
Selective
Moderate
Limited
Private Bank
Market responsive
Relationship-driven
Moderate
Faster
Available
Public Sector Bank
Profile-based
Flexible
Strong
Fast
Case-specific
At BASIC Home Loan, our advisor assesses your profile, matches it with suitable lenders, and handles coordination across banks. This reduces confusion and improves approval confidence.
INTEREST RATES
Home Loan Interest Rates and Charges Comparison
| Bank Name | Interest Rate | Processing Fee | Loan Amount and Tenure |
|---|---|---|---|
 HDFC Bank | 7.25% p.a. to 10.50% p.a. | 0.35% of loan amount (Min: ₹3,000 + GST, Max: ₹12,000 + GST) | Loan amount as per bank assessment. Tenure up to 30 years |
 PNB Housing | 7.25% p.a. to 10.50% p.a. | 0.35% of loan amount (Min: ₹3,000 + GST, Max: ₹12,000 + GST) | Loan amount as per bank assessment. Tenure up to 30 years |
 Federal Bank | 7.25% p.a. to 10.50% p.a. | 0.35% of loan amount (Min: ₹3,000 + GST, Max: ₹12,000 + GST) | Loan amount as per bank assessment. Tenure up to 30 years |
 SBI Bank | 7.25% p.a. to 10.50% p.a. | 0.35% of loan amount (Min: ₹3,000 + GST, Max: ₹12,000 + GST) | Loan amount as per bank assessment. Tenure up to 30 years |
Understanding this table alone rarely gives a complete picture. Certain banks favour salaried applicants, while others work better for self-employed income patterns or under-construction properties. Our advisor evaluates income structure, credit behaviour, and property details before recommending the right lender.
OUR PARTNERS
NBFC and Bank Partners for Home Loans
We work with a wide network of public sector banks, private banks, and regulated NBFC partners across India. This allows us to support varied borrower profiles, including salaried professionals, self-employed individuals, small business owners, and NRI applicants.
Our partner coverage extends across tier one, tier two, and tier three cities.Types of Home Loans We Help With
Home Purchase Loan
For buying ready or under-construction residential properties from approved developers.
Home Construction Loan
For constructing a house on owned land with stage-wise fund release.
Plot Loan
For purchasing land and constructing a house under a single loan structure.
Home Loan Balance Transfer
For shifting an existing loan to another lender offering improved terms and rates.
Top-Up Loan
For constructing a house on owned land with stage-wise fund release.
NRI Home Loan
For eligible NRIs planning to purchase or construct residential property in India.
ELIGIBILITY
Home Loan Eligibility
Salaried Eligibility Factors
Monthly income, employer stability, work experience, credit score, and existing financial commitments are assessed.
Self-Employed Eligibility Factors
Business continuity, income consistency, tax filings, audited financials, and banking behaviour are evaluated.
Age Criteria
Applicants usually qualify from 18 years of age, with loan maturity generally capped around 70 years.
FOIR (Fixed Obligations to Income Ratio)
Refers to the portion of your monthly income already committed towards repayments of existing loans and credit card EMIs. A balanced FOIR improves lender comfort and approval prospects.
Tell us about your requirements
DOCUMENTATION
Documents Required
Salaried Individuals
Identity proof
Address proof
Salary slips
Bank statements
Employment confirmation documents
Interest Rates, EMI, and Bank Comparison
Interest Rate Ranges
Home loans are offered under floating or fixed interest structures. Floating rates move with market-driven benchmark changes, while fixed rates remain constant for a defined period.
Why Rates Differ Across Banks
Interest rates vary due to lender funding costs, borrower risk assessment, property type, and internal pricing policies.
How We Help Negotiate Better Terms
We position applications with suitable lenders, highlight repayment strength, and request improved pricing wherever eligibility supports it.
EMI Impact Explanation
EMI values depend on loan amount, interest rate, and tenure. Longer tenures reduce monthly outflow while increasing overall interest payable.
SOLUTIONS
Common Challenges and How We Solve Them
High FOIR
Tenure optimisation and co-applicant options are evaluated to improve repayment comfort.
Self-Employed Income Issues
Income is structured using financial records and consistent banking patterns.
Under-Construction Property Concerns
Applications are aligned with lenders approved for the specific project.
Builder-Specific Bank Approvals
We route applications to banks already comfortable with the builder profile.
Low Credit Score
Our advisors identify lenders that consider overall repayment behaviour and income stability.
How it works
Partnering with BASIC is simple and hassle-free. Submit your lead, track progress in real time, and earn timely payouts, all with complete transparency.
Refer a Customer
Have a customer looking for a Home Loan, LAP or Balance Transfer? Share their requirement with BASIC.
Get Personalised Loan Solution
Our AI matches your customer’s profile with suitable loan options from 150+ lenders, helping you find the right fit faster.
Track Progress
While your RM works on the fulfillment, you can monitor the application status, approvals, and disbursement updates in real time.
Get Paid
Receive your payout once the loan is successfully disbursed.*
Stories from family like yours
Real people, real savings, real homes
I wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Aakash Rathore
I wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Navneet SinghI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Navneet SinghI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Aakash Rathore
I wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Aakash RathoreI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Navneet SinghI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Navneet SinghI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Aakash RathoreI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Aakash RathoreI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Navneet SinghI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Navneet SinghI wanted to highlight the quick and efficient loan disbursement process, which was impressively completed within just 5 working days. A special thanks to Rahul, who provided consistent support every day to help expedite the process.
Aakash Rathore