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Home Loans in Hyderabad – Check EMI, Interest Rates, and Eligibility

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Buying a home in Hyderabad is a dream for many. To turn this dream into reality, understanding home loan options is crucial. This guide offers everything you need to know about home loans in Hyderabad, including the latest interest rates, eligibility criteria, required documents, and tips to improve your chances of approval.


Compare Home Loan Interest Rates Offered by Leading Banks in Hyderabad

BankUp to Rs. 30 LakhAbove Rs. 30 Lakh to Rs. 75 LakhAbove Rs. 75 Lakh
SBI Bank8.50% p.a. onwards8.5% p.a. onwards8.50% p.a. onwards
HDFC Bank8.75% p.a. onwards8.75% p.a. onwards8.75% p.a. onwards
LIC Bank8.50% – 10.35% p.a.8.50% – 10.55% p.a.8.50% – 10.75% p.a.
ICICI Bank8.75% p.a. onwards8.75% p.a. onwards8.75% p.a. onwards
Kotak Mahindra Bank8.75% p.a. onwards8.75% p.a. onwards8.75% p.a. onwards
Punjab National Bank8.50% – 11.05% p.a.8.50% – 11.05% p.a.8.50% – 11.05% p.a.
Bank Of Baroda8.40% – 10.65% p.a.8.40% – 10.65% p.a.8.40% – 10.90% p.a.
Bajaj Housing Finance8.50% p.a. onwards8.50% p.a. onwards8.50% p.a. onwards
Axis Bank8.75%-10.30% p.a.8.75%-10.30% p.a.8.75%-10.30% p.a.
Bank of India8.40% p.a onwards8.40% p.a onwards8.40% p.a onwards
TATA Capital8.75% p.a. onwards8.75% p.a. onwards8.75% p.a. onwards
The interest rates, maximum tenures, and other charges are subject to change, and it’s advisable to check with our experts for the most current information.

Home Loan Eligibility Criteria in Hyderabad

To qualify for a home loan in Hyderabad, you must meet certain criteria. Here’s a breakdown:

Eligibility FactorCriteria
Age21 to 65 years (age at the end of the loan tenure)
Employment TypeSalaried or self-employed individuals
Minimum IncomeVaries by lender (e.g., INR 25,000/month)
Credit ScoreIdeally 750 or higher
Existing LoansFewer existing loans increase your eligibility

Pro Tip: If your credit score is low, consider working on it for 3-6 months before applying for a home loan.

Check Out: Credit Dharma’s Free Credit Score Checker


Types of Home Loans Available in Hyderabad

When it comes to home loans in Hyderabad, you have several options to choose from depending on your financial needs and goals.

Here are the most common types of home loans available:

Type of Home LoanDescription
Home Purchase LoanUsed to purchase a new or resale residential property.
Home Construction LoanOffered to individuals who want to construct a house on a plot they own.
Land Purchase LoanTaken to purchase a plot of land for residential construction.
Home Renovation LoanUsed for home improvements, renovations, or repairs.
Balance Transfer LoanAllows you to transfer an existing home loan from one lender to another for better interest rates.
NRI Home LoanSpecialized loan option for Non-Resident Indians (NRIs) to buy property in India.

Pro Tip: Choose the loan type that aligns with your property needs. For example, opt for a construction loan if you plan to build your house, while a home purchase loan is suitable for buying ready-to-move-in properties.


Documents Required for Home Loan in Hyderabad

Make sure you have these documents ready to speed up the loan process:

  • Identity Proof: Aadhar card, PAN card, Passport, or Voter ID.
  • Address Proof: Utility bills, rental agreement, or Aadhar card.
  • Income Proof: Salary slips (last 3 months) for salaried employees, ITR (2-3 years) for self-employed individuals.
  • Property Documents: Sale agreement, builder’s NOC, and property title documents.
  • Bank Statements: Last 6 months of bank transaction history.

Home Loan EMI Calculator Hyderabad

Get an accurate monthly home loan EMI in Hyderabad estimate with our easy-to-use calculator.

₹1.0 Lacs.₹10.0 Cr.
%
2 %20 %
Yr
1 Yr30 Yr
Loan AmountInterest Amount
Monthly EMI
₹69,426
Loan Amount
₹80,00,000
Interest Amount
₹86,62,206

Loan Amount

₹ 80,00,000

Interest Amount

₹ 86,62,206

Total Payable

₹ 1,66,62,206

Monthly EMI

₹ 69,426

Looking for Home Loans?
Compare Interest Rates from 20+ Banks

Loan Repayment (Yearly/Monthly)

Check Out: Credit Dharma’s Home Loan EMI Calculator


Home Loan Processing Fees in Hyderabad

In Hyderabad, home loan processing fees are one-time charges levied by banks to cover administrative costs associated with evaluating and approving your loan application. These fees typically range from 0.25% to 1% of the loan amount, varying by lender and loan specifics.

BanksProcessing Fees
HDFC BankUpto 0.50% of the loan amount or Rs. 3300/- whichever is higher
SBI 0.35% of the loan amount
Bajaj Housing FinanceUp to 4% of the loan amount
Axis Bank1% of the loan amount
ICICI Bank0.50% of the loan amount
Canara Bank0.50% of the loan amount
LIC HFLRs 0.25% of the loan amount
Please note that these are indicative numbers, please refer to the official websites for the latest updated details.

Step-by-Step Process to Apply for a Home Loan in Hyderabad

StepsDescription
1. Check EligibilityUse a Credit Dharma’s home loan eligibility calculator.
2. Compare Loan OptionsResearch and compare home loan rates from various lenders.
3. Prepare DocumentsGather the necessary documents (mentioned above).
4. Submit ApplicationApply online or visit a bank’s branch.
5. Verification & ApprovalThe lender verifies your documents and assesses your credit score.
6. Loan DisbursementOn successful approval, the loan amount is disbursed.

Check Out: Credit Dharma’s Home Loan Comparison Page
Compare Offers from 20+ banks


How to Improve Home Loan Approval Chances?

Tips to Improve EligibilityDescription
1. Maintain a High Credit ScorePay your bills on time and reduce credit utilization.
2. Reduce Existing DebtPay off outstanding loans before applying.
3. Increase Down PaymentA higher down payment reduces the loan amount required.
4. Show Stable IncomeContinuous employment for at least 2 years is preferred.
5. Co-Apply with a SpouseBoosts eligibility and chances of approval.

Check out: Credit Dharma’s Home Loan Down Payment Calculator


Get the Best Home Loan Offers in Hyderabad with Credit Dharma

Credit Dharma is your trusted partner for securing the best Home Loan offers in Hyderabad, with over ₹500 Cr+ loans handled and partnerships with 20+ leading banks. We provide exclusive access to the lowest interest rates and a seamless, digital process with fast approvals in just 1-2 weeks, backed by lifetime support from our home loan experts.

Why choose Credit Dharma? We provide:

  • Lowest Interest Rates: Save more with every EMI.
  • Maximum Funding: Get up to 100% funding for your dream home.
  • Simple & Digital Process: No tedious paperwork or branch visits.
  • Expert Guidance: Lifetime support from our team of specialists.

Compare, choose, and secure the best Home Loan Offer in Hyderabad with Credit Dharma — your home loan journey starts here!


Conclusion

Applying for a home loan in Hyderabad is a major financial decision. Understanding eligibility, interest rates, and required documents can make the process smoother. By following the tips mentioned, you can increase your chances of loan approval and secure better interest rates. Be sure to compare offers from multiple lenders to get the best deal.


Frequently Asked Questions

What is the minimum salary required for a home loan in Hyderabad?

The minimum salary requirement varies by lender and city. For instance, in Bangalore, some lenders require a minimum monthly income of ₹15,000 for salaried applicants.

How much home loan can I get on my salary in Hyderabad?

Lenders typically offer home loans where the EMI constitutes 40-50% of your monthly income. The exact amount depends on factors like your income, existing debts, and the lender’s policies.

What is the maximum tenure for a home loan in Hyderabad?

Most lenders offer home loan tenures up to 30 years, depending on the applicant’s age and retirement age.

Are there any tax benefits on home loans in Hyderabad?

Yes, under Section 24 of the Income Tax Act, you can claim a deduction of up to ₹2 lakh on interest paid for a self-occupied property. For rented properties, there is no maximum limit for the deduction on interest paid.

Can I get a home loan in Hyderabad without a high credit score?

While a higher credit score improves your chances of approval and better interest rates, some lenders may approve loans for applicants with lower scores, possibly at higher interest rates.

What documents are required for a home loan in Hyderabad?

Commonly required documents include identity proof (Aadhar card, PAN card), address proof (utility bills, rental agreement), income proof (salary slips, ITR), property documents (sale agreement), and bank statements.

How long does it take to process a home loan in Hyderabad?

The processing time varies by lender but generally takes between 7 to 15 days from application to disbursement.

Can NRIs apply for home loans in Hyderabad?

Yes, many banks and housing finance companies offer home loans to NRIs, often branded as NRI Home Loans.