Whether you are buying a ready-to-move-in flat, constructing a house, or renovating your existing home — a housing loan helps you realise your vision with affordable EMIs and tax benefits.
A housing loan (or home loan) is a secured credit facility extended by banks and NBFCs to individuals for purchasing, constructing, renovating, or extending a residential property. The property itself serves as the primary collateral for the loan.
The loan amount is determined based on the property value, the applicant's repayment capacity, age, income stability, and credit score. Lenders typically finance 75–90% of the property's registered value (Loan-to-Value ratio). The remaining amount must be paid as a down payment by the borrower.
Interest on home loans is generally lower than unsecured loans because of the security. Additionally, home loan EMIs qualify for significant income tax deductions under sections 80C and 24(b) of the Income Tax Act, making them a tax-efficient financing tool.
Choose the right variant based on your property and requirement.
Finance the purchase of a ready-to-move-in or under-construction apartment/villa from a builder or through a resale transaction.
For individuals who already own a plot of land and wish to construct a house. Funds are released as construction milestones are achieved.
Renovation, repair, electrical/plumbing upgrades, waterproofing, tiling, and other improvements to an existing property.
Shift your existing home loan from another lender to South India Loans to get a lower interest rate, better service, or top-up facility.
Additional funding over and above your existing home loan for any personal or home-related needs, at similar interest rates.
For senior citizens: pledge your self-occupied home to receive periodic payments while continuing to live in the property.
Competitive rates, tax savings, and a transparent process designed to make your homeownership journey smooth.
Finance up to 90% of the property value, reducing your down payment burden. Special schemes for women borrowers and government employees.
Home loan interest rates start from 8.2% p.a. (floating). Our rate matching policy ensures you always get the best offer available in the market.
Up to 20 years (240 months) makes EMIs extremely affordable, even for large loan amounts. Over 30 lakh families have chosen our home loan products.
Claim up to ₹1.5 lakh under Section 80C (principal repayment) and up to ₹2 lakh under Section 24(b) (interest paid) every year.
Pre-approved offers for existing customers. Sanction letter in as little as 48 hours after document submission for eligible profiles.
Choose step-up, step-down, or flexible EMI structures. Part-prepay anytime without penal charges (for floating rate loans).
Rates are floating and linked to external benchmarks (RLLR). Final spread depends on your credit profile, loan amount, and property type.
| Loan Category | Rate Range (p.a.) | Max LTV |
|---|---|---|
| Salaried – loan up to ₹75L | 8.20% – 9.25% | Up to 90% |
| Salaried – loan above ₹75L | 8.35% – 9.50% | Up to 85% |
| Self-employed – professional | 8.50% – 9.75% | Up to 85% |
| Self-employed – business | 8.75% – 10.25% | Up to 80% |
| Home improvement / extension | 9.00% – 10.50% | Up to 75% of estimated cost |
| Balance transfer + top-up | 8.00% – 9.50% | Subject to residual LTV |
See how a housing loan compares with alternative ways to fund your home purchase.
| Feature | Home Loan | Personal Loan | Liquidating Investments |
|---|---|---|---|
| Interest Rate | 8.2%+ | 10.5%+ | Opportunity cost (8-12% expected return) |
| Tax Benefit | ✓ Up to ₹3.5L/year | ✗ None | ✗ None |
| Loan Tenure | Up to 20 years | Up to 5 years | N/A |
| Down Payment | 10–25% required | None | 100% funds needed |
| Collateral | Property itself | None | Investments sold |
| Impact on Savings | Preserves savings | No impact on investments | Depletes long-term corpus |
These are general guidelines. Final eligibility is determined after a full assessment of income, liabilities, and property documentation.
How your credit score shapes the interest rate offer
Fill online application, upload KYC, income proof, property documents
In-principle sanction within 2–3 days after document verification
Property title search, valuation, and technical inspection by lender
Sign loan documents, registration of charge, disbursal to builder/seller
The exact checklist may vary by lender and property type. Our relationship manager will guide you.
One of the biggest advantages of a housing loan is the ability to claim tax deductions on both principal repayment and interest paid.
We help you avail benefits under various government initiatives aimed at affordable housing.
Credit-linked subsidy scheme (CLSS) for EWS, LIG, and MIG categories. Interest subsidy up to 6.5% on loan amounts up to ₹9 lakh–₹12 lakh depending on category.
Many lenders offer 0.05–0.10% rate reduction for loans where the primary applicant is a woman. Also, lower stamp duty in several states.
Encourages banks to provide low-cost home loans to economically weaker sections. No processing fee and flexible repayment.
Adjust the loan amount, interest rate, and tenure to see your likely monthly EMI and total interest outgo before you apply.
Rates are indicative and subject to change. Contact us for current offers based on your profile and property choice.
| Lender | Interest Rate (Floating) | Max Amount | Max Tenure | Processing Fee | Best For |
|---|---|---|---|---|---|
| South India Loans | From 8.20% | ₹10Cr | 20 years | 0.50% | Best Overall |
| SBI Home Loan | 8.65% – 9.15% | No upper cap* | 30 years | ₹8,500 | Lowest Rate |
| HDFC Ltd | 8.75% – 9.50% | ₹5Cr | 30 years | Up to 1% | Fast disbursal |
| ICICI Bank | 8.85% – 9.70% | ₹3Cr | 30 years | 0.5–1% | Salaried |
| Axis Bank | 8.90% – 9.80% | ₹3Cr | 25 years | Up to 1% | Self-employed |
| Bank of Baroda | 8.60% – 9.40% | ₹2Cr | 30 years | 0.35% | Affordable housing |
ℹ️ Rates are indicative and sourced from publicly available information. Actual offers depend on property, CIBIL score, and individual profiles. South India Loans partners with multiple lenders to find you the best offer.
Talk to our home loan specialists to understand eligibility, documentation, and get the best available rate for your profile.