Top 10 Best Housing Finance Companies In India

By sarkariportal10

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It’s everyone’s dream to have a house of their own. Since the population of India is skyrocketing, the need for homes for the general population also increases. The need for Housing Finance is all time high in India, and we have made a comprehensive list of the Top Housing Finance Companies in India.

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List Of Top 10 Housing Finance Companies In India

#1) HDFC

As of 2017, the Housing Development Finance Corporation Ltd. (HDFC) holds the top position among the Best Housing Finance Companies in India. Established in 1977, HDFC has emerged as the leader in providing housing loans. With appealing offers and comprehensive customer care support, they have secured a significant market share in India. HDFC offers a range of loans, including housing and non-housing loans.

Some noteworthy features of HDFC are:

  • 40 years of experience in housing finance.
  • Market Price of around Rs. 2,50,207 Cr as of May 2017.
  • Interest rates are at 8.50% – 8.55%.
  • Helped over 5.1 Million customers India wide.

#2) Indiabulls HSG

Ranked as the second-largest among the top 10 housing finance companies in India in 2017, Indiabulls Housing Finance Limited is also featured on the list of housing finance companies approved by the National Housing Bank (NHB). Over the years, Indiabulls has garnered numerous accolades for its noteworthy contributions in the field of housing finance, establishing itself as one of the most affordable housing finance companies in India.

Some noteworthy features of Indiabulls HSG are:

  • Winner of ‘Excellence in Home Loan Banking’, conducted at FM Stars of Industry Awards.
  • Market Capital of Rs.45,861 Cr as of May 2017.
  • Best use of Digital Media.
  • Very useful and user focused e-Home loan websites.

#3) LIC Housing Finance Limited

Established in 1989, LIC claims the third position among the top 10 housing finance companies in India. Specializing in offering housing finance support for both Indians and NRIs, LIC provides varying interest rates based on different categories. Additionally, LIC extends services to assist pensioners in constructing homes at favorable interest rates. The company is also featured on the list of housing finance companies approved by the National Housing Bank (NHB).

Some noteworthy features of LIC Housing Finance Limited are:

  • Market Capital of Rs.35,795 Cr as of May 2017.
  • The interest rate is at 8.50% to 8.90%.
  • 240 market units under 21 back offices.
  • Aided in helping 20 lakh families in building their homes.

#4) SBI Home Loans

The State Bank of India stands as one of the prominent housing finance companies in India, focusing on delivering cost-effective housing loans across the country. With an extensive network of nearly 16,000 branches nationwide, SBI is committed to offering customers easy accessibility and support. The bank provides competitive interest rates, offering about 8.60% interest for women and 8.65% interest for others.

Some noteworthy features of SBI are:

  • Reliable service network.
  • Zero hidden costs.
  • Zero prepayment penalties.
  • Reduced interest rates for housing loans for women.

#5) PNB Housing Finance Limited

PNB Housing Finance Limited, with a robust experience of 25 years, stands as another prominent housing finance company in India. Supported by Punjab National Bank (PNB), they extend their financial services to individuals and corporates, catering to the needs of building, repair, renovation, and purchase of houses.

Some noteworthy features of PNB Housing Finance Limited are:

  • 25 years of experience.
  • Market Capital of Rs. 22,609 cr as of May 2017.
  • Placed on the list of housing finance companies approved by NHB.
  • Option to enhance loan in case if any escalation with cost happens.

6) GRUH Finance Limited

A relatively recent entrant in the Indian housing finance sector, GRUH Finance Limited, formerly known as Gujarat Rural Housing Finance Corporation, operates as a subsidiary of HDFC. This affiliation ensures that GRUH benefits from the support of India’s premier housing finance company. The primary goal of GRUH is to facilitate the construction or renovation of buildings in rural areas.

Some noteworthy features of GRUH Finance Limited are:

  • Aids in the development of rural India.
  • Market Capital of Rs.14,651 Cr as of May 2017.
  • One among the list of housing finance companies approved by NHB.
  • Best in class tenure range of 30 years.

#7) AXIS Housing Finance

Commencing operations in 1994, Axis Bank has swiftly risen to become the third-largest private sector bank in India by 2017. The bank has established an extensive network of branches and ATMs spanning the entire country. The remarkable growth achieved within a short timeframe attests to the trust and values placed in them by each customer, solidifying Axis Bank as a formidable player among private housing finance companies.

Some noteworthy features of AXIS Housing Finance are:

  • Over 2900 domestic branches plus about 12,700 ATMs all over India.
  • 9 India’s first private sector housing finance company.
  • The interest rate is at 8.65% – 8.75.
  • Best rewards program winner of 2017 at loyalty awards.

#8) ICICI Home Finance

ICICI Home Finance Company, also known as ICICI HFC, is a dynamic participant in the Indian housing finance sector. In 2013, ICICI secured its position as the second-largest bank in India and has since expanded its branches nationwide. ICICI HFC is recognized among the housing finance companies approved by the National Housing Bank (NHB).

Some noteworthy features of ICICI Home Finance are:

  • Interest rate is at 8.65% to 8.85%.
  • Numerous Branches all across India.
  • Flexible loan repayment options.
  • Special services for NRIs.

#9) DHFL House Financing

DHFL envisions assisting individuals in the lower and middle classes in realizing their dream homes. With over 30 years of experience, DHFL continues to be one of the foremost housing finance companies.

Some noteworthy features of DHFL House financing are:

  • Low-interest rates starting from 8.60%.
  • Backed by India’s second largest housing finance company.
  • Tie-ups with UBI, Yes Bank, and Dhanlaxmi Bank.
  • Networks in Dubai and London.

#10) CitiBank

Citibank boasts approximately 200 million customer accounts globally. While it provides an exclusive array of services in India, Citibank operates as a division of the U.S.-based Citi Group. Citibank has made significant contributions to the Indian housing finance market, offering housing finance options that benefit both Indian citizens and NRIs.

Some noteworthy features of Citibank are:

  • Interest rates are at 8.60% – 9.30%
  • Vast network across India.
  • 24/7 Customer support.
  • Vast international reach.

Wrapping It Up

Now you have got a basic idea about the top 10 housing finance players in India. But before you head about to use their services you have to keep three things in mind:

  1. Down payment
  2. The rate of Interest
  3. Hidden or Other Charges

These considerations pertain to private housing finance companies. It is crucial to thoroughly inquire about plans and charges before making a commitment. The interest charges and tenure period play a significant role in determining your repayments. While we have conducted a substantial part of the research for you, ensure that you have done adequate research on your own. Always keep in mind, “home is where your chapter begins.”

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Hello Friend, My Name is Vibhishan Kumar. I have been blogging for last 3 years. I like to write latest job news, government schemes etc.

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