One Home.Many Loan Options.

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Overview Key Features Types Loan Calculator AI Matching Factors Affecting Eligibility Documents Interest Rate and Charges FAQs

What is a Home Loan?

A home loan is a secured loan used to purchase, construct, or improve residential property, with the property itself serving as collateral. Because it is secured, it usually offers lower interest rates, longer tenures of up to 30 years, higher eligibility, and potential tax benefits compared with many other borrowing options.

Key Features
of a Home Loan

Loan Amount

Finance up to 90% of property value with minimal down payment.

Interest Rate

Competitive rates starting from 7.10% p.a.

Loan Tenure

Flexible repayment period up to 30 years for affordable monthly EMIs.

Tax Benefits

Claim deductions on principal (Sec 80C) and interest (Sec 24b) under Income Tax Act.

Joint Loan Benefits

Add co-applicant to increase eligibility, share tax benefits, and boost approval chances

Step-Up & Step-Down EMIs

Start low and increase (for young earners) or start high and decrease (for pre-retirees)

Choose the Home Loan Type That Fits Your Goal

Home Purchase Loan

Buy ready-to-move or under-construction residential property.

Home Construction Loan

Finance construction on your own plot with stage-wise disbursement

Home Renovation Loan

Upgrade, renovate, or extend your existing home.

Balance Transfer

Switch your existing home loan to a lender offering better rates.

Top-Up Loan

Additional funds on existing home loan at home loan interest rates.

Plot + Construction Loan

Combined financing for plot purchase and home construction.

NRI Home Loan

Purchase or construct property in India as a Non-Resident Indian

Women's Home Loan

Preferential rates and stamp duty benefits for women applicants.

PMAY

Government interest subsidy for eligible first-time homebuyers.

Home Loan EMI Calculator

Loan Amount

₹

50K2 Cr.

Rate of interest (per annum)

4%24%

Tenure

1 Y7 Y

Your EMI

₹ 16,607

per month

Principal

₹ 5,00,000

Interest

₹ 97,858

Total payable

₹ 5,97,858

Factors Affecting Home Loan Interest Rates

Higher CIBIL Score

750+ score unlocks the most competitive rates.

Lower Debt-to-Income Ratio

Fewer existing EMIs = better rate negotiation

Larger Down Payment

Higher upfront payment signals lower risk to lenders.

Stable Employment / Business

Longer job or business tenure improves lender confidence.

Prime Property Location

Properties in prime areas attract better LTV and rates

Existing Bank Relationship

Salary account or existing loans with the lender may unlock preferential rates.

Women as Primary Applicant

Many lenders offer 0.05%–0.10% lower rates for women applicants

Shorter Loan Tenure

Lower tenure = lower risk = better interest rate

Clean Repayment Track Record

No defaults or late payments on existing loans improves negotiation power

How Our AI Matching Works

Lender Criteria Built In

Our platform is pre-loaded with eligibility rules from multiple banks and NBFCs.

AI-Based Assessment

Our AI securely evaluates your profile against these criteria—without unnecessary hard checks.

Smart Lender Matching

Get personalised quotations based on your requirement. We match borrowers with the most suitable lenders.

Eligibility Criteria

Home Loan Eligibility Criteria

Age

21 to 65 years at loan maturity (some lenders allow up to 70 years for self-employed).

Minimum Income

Salaried: ₹10,000–₹25,000 per month / Self-Employed: ₹2 Lakhs per annum

Credit Score

Minimum 700+, with 750+ preferred for better rates and higher loan amounts.

Employment / Business Continuity

Salaried: Minimum 2–3 years total experience / Self-Employed: Minimum 3 years continuity with profit in last 2 years

CIBIL Score

700+ (750+ for best rates and higher loan amounts).

Nationality

Indian Residents and NRIs.

Property Types

Residential apartments, independent houses, villas, under-construction approved projects, plots.

Documents Required

Requirement

Salaried

Self-Employed

Income Proof

Salaried: Latest 3 months' salary slips

Self-Employed: -

Bank Statement

Salaried: Latest 6 months' bank statement

Self-Employed: Latest 6-12 months' bank statement

No credit bureau (CIBIL) inquiry is done at this stage

Indicative loan quotation is shared before formal login

Home Loan Interest Rates, Fees and Charges

Item

Details

Interest rate (floating)

Starting from 7.10% p.a. Varies based on CIBIL score, income, property location, and lender.

Processing fee

0.25% to 2% of loan amount + GST. One-time fee at loan sanction. Often negotiable for high CIBIL scores and existing customers.

Stamp Duty & Legal Charges

As per state regulations. Charged for loan agreement execution and registration. Women applicants receive 1–2% discount in most states

Foreclosure Charges

Floating Rate: NIL (as per RBI guidelines for individual borrowers) / Fixed Rate: 2% to 4% of outstanding principal

Part Payment Charges

Floating Rate: NIL (as per RBI guidelines for individual borrowers) / Fixed Rate: 1% to 3% on prepaid amount

*Terms and conditions apply. Charges vary by lender policy and loan type.

Questions? We've Got Answers.

Home loan interest rates typically start from around 7.10% p.a. and vary based on the lender, CIBIL score, loan amount, property type, and income profile. Floating rate loans are linked to the lender's repo rate and may change over the tenure.

Home loan EMI is calculated based on the loan amount, interest rate, and repayment tenure using the reducing balance method. The EMI remains fixed (for fixed-rate loans) while the interest portion reduces over time. Use our EMI calculator above to estimate your monthly payments.

No. Orenda's pre-profiling stage uses soft inquiry methods and does not impact your credit score. Your CIBIL is only checked when you formally apply to your chosen lender.

Yes. Most banks and NBFCs offer home loans to self-employed individuals with a minimum 3 years of business continuity and profit in the last 2 years. Interest rates and eligibility may differ slightly from salaried applicants.

Home loan tenures can extend up to 30 years, subject to the borrower's age at loan maturity (typically up to 65 years for salaried and 70 years for self-employed). Longer tenure reduces EMI but increases total interest outflow.

Yes. For floating-rate home loans, there are no prepayment or foreclosure charges as per RBI guidelines for individual borrowers. For fixed-rate loans, charges of 2%–4% on the outstanding principal may apply as per lender terms.

Key documents include PAN Card, Aadhaar, income proof (salary slips or ITR), bank statements, and property documents (sale deed, approved building plan, encumbrance certificate). Full checklist is shared during pre-profiling — before any CIBIL check.

A joint home loan allows two or more applicants — typically spouses or blood relatives — to combine income and increase eligibility. Both applicants can independently claim tax deductions on principal and interest, making it financially advantageous.

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