Home Loans in Delhi- Check Interest Rates, Eligibility & Documentation

The exponentially increasing population demands equal resources for the same. We are growing at an alarming rate, with which the contribution of Delhi alone is approx 3.2 Cr in total. This has levitated the gross demand for shelter. Being the capital city of India, it provides career opportunities to a large number of folks and thereby witnesses a humongous scarcity in providing people with roofs over their heads. The shelter is a priority and seeing the present trends, more and more people incline towards taking a loan. But are there any options for the best home loan in Delhi?

And in case the options are there, who would take up the task of searching for a needle in a pile of hay? Thus making this manageable, the article will resolve all your anticipated queries on home loans in Delhi.

Features of Home Loan in Delhi

  • Home loans in Delhi are typically issued at 7.70% annualized.
  • The maximum tenure is 30 years.
  • LTV ratio: 90% of the property’s cost
  • Top-ups, overdrafts, and debt transfers for borrowers of existing house loans
  • Select clients can get fast pre-approval.
  • Nothing to pay in advance
  • Pradhan Mantri Awas Yojna with an interest subsidy of up to Rs. 2.76 lakh for economically deprived sections, middle-income families, and low-income people. 

Home loan options available in Delhi

There are several different home loan packages available from banks and NBFCs. The following categories of home loans in Delhi can be made based on the needs and goals of the consumers.


Type of Home Loan Purpose
Home Loan for Purchase Can be obtained by qualified borrowers who want to buy a new home or apartment or  purchase an existing property.
Home Loan for Construction Suitable for those who desire to build their own home as opposed to purchasing an already-built property
Home Improvement Loan Ideal for those looking to repair or renovate an existing home.
Home Conversion Loan Can be used if you want to move to a new house/flat after having previously obtained a home loan and purchased a house/property with it.
Home Loan for Extension/Expansion Offered to prospective borrowers who want to extend, expand, or change the structure of their current property/house.
Home Loan Balance Transfer Can be chosen by those who want to transfer their existing home loan from one lender to another for reasons such as lower home loan interest rates and better customer service provided by the other bank.
NRI Home Loan NRI home loans are made especially for Non-Resident Indians (NRIs) who want to buy a house in India. Unlike the conventional home loans provided by banks, NRI home loans have different procedures and formalities involved in the approval process.

Top financial institutions in Delhi for Home Loans

  • Navi
  • Kotak Mahindra Bank
  • Indiabulls Housing Finance
  • HDFC Ltd. Bank
  • State Bank of India
  • Bajaj Finserv
  • Canara Bank
  • Aditya Birla Capital

Eligibility Criteria to apply for Home Loans in Delhi:

  • Nationality: Indian, PIO, and NRI
  • The age range at loan maturity: is 21 to 70 years old
  • Work experience: For salaried and self-employed positions, at least three years
  • Job profile of the applicant: Paid (government and corporate professionals), Self-Employed Non-Professionals (contractors, traders, commission agents), and Self-Employed Professionals (doctors, CS, lawyers, CA, architects, consultants, and engineers)
  • A credit score of 750 or above is required for better chances of receiving a house loan with reduced interest rates.

Documents Required to apply for Home Loans in Delhi:

For Salaried Applicants:

  • KYC documents, which include a driver’s license, a passport, a voter ID card, and a PAN card.
  • Income documentationthat includes the last three months’ worth of pay stubs, a bank statement with salary credits, and an ITR or Form 16.
  • Own proof of contribution
  • Property records
  • A bank document that details debt repayments
  • A letter of appointment or an employment contract if the position is newer than a year.
  • The cheque for processing fees

 Self-Employed Applicants (Additional Documents):

  • Business Profile
  • Updated Form 26AS
  • Income Proof: ITR with three years’ worth of income calculations
  • Company’s Memorandum and Articles of Association
  • Statements of profit and loss for the last three years and the balance sheet
  • Business entity’s most recent financial statement
  • Statement of a person’s Saving Account for the last 6 months

Comparing Home Loan Rates of Interest in Delhi Offered by Different Banks & HFCs:

Note: Home loan rates as of 25th November 2022


Name of Lender Up to Rs. 30 Lakh Above Rs. 30 Lakh to Rs. 75 Lakh Above Rs. 75 Lakh
NAVI 8.09%- 9.13% 8.84%- 9.03% 8.84%- 9.03%
SBI 8.50% – 9.15% 8.40% – 9.05% 8.40% – 9.05%
HDFC 8.40% – 10.00% 8.40% – 10.25% 8.40% – 10.35%
LIC Housing Finance 8.30% – 10.00% 8.30% – 10.20% 8.30% – 10.40%
ICICI Bank 8.40% – 9.50% 8.40% – 9.50% 8.40% – 9.50%
Kotak Mahindra Bank 8.30% onwards 8.30% onwards 8.30% onwards
PNB Housing Finance 8.50% – 13.00% 8.50% – 13.00% 8.60% – 11.70%
Punjab National Bank 8.25%-9.00% 8.25%-9.00% 8.20%-8.90%
Bank of Baroda 8.25% – 10.00% 8.25% – 10.00% 8.25% – 10.25%
Union Bank of India 8.25% – 10.15% 8.25% – 10.35% 8.25% – 10.35%
IDFC First Bank 8.45% onwards 8.45% onwards 8.45% onwards
L&T Housing Finance 7.70% – 8.70% 7.70% – 8.70% 7.70% – 8.70%
Bajaj Housing Finance 8.20% onwards 8.20% onwards 8.20% onwards
Godrej Housing Finance 8.39% – 10.99% 8.39% – 10.99% 8.39% – 10.99%
Tata Capital 8.60% onwards 8.60% onwards 8.60% onwards


To summarize-

Delhi is nevertheless the capital, a metropolitan city with increasing developmental facets, but housing people is still an obstacle. With the number of people it holds, their demands are equally high, and thus resolution is always better than resentment.

Thus providing you with the best home loan options, the article inculcates all in regards to shelter and loans, right from the lowest interest rate to provided of premium home loans in Delhi. Wherein leaving the ball in your court to carefully scrutinize and wisely decide which of the home loan is in the best of your interest with the lowest rates to offer.

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