By FMTeam With rising inflation literally everywhere in the world, the housing market is getting competitive year after year. And it sure is getting super hard for people to own their homes, especially in a country like India. Thankfully, you have options to get housing loans from not only the banks in the country but you can get huge help from housing finance companies that are there for just this very reason. They not only offer you financial services, but in a way, their services are targeted to people who want to own their home, but don’t have the financial standing yet. So, if you always wanted to know about some good options in this specific niche, well, keep on reading this post of the top 10 leading housing finance companies in India as of 2024. Alright, let’s get going now.
1. HDFC Ltd. (Housing Development Finance Corporation Limited)
To put it simply, yes, when it comes to home loans, HDFC Ltd. remains one of the most reliable and top names, helping Indians realize their dream of homeownership since 1977. You see, known for its competitive rates and varied loan options, HDFC offers home improvement, property purchase, and plot loans. Like, with interest rates starting at 8.55% and loan tenures up to 30 years, HDFC provides flexibility and affordability. Not just that though, its vast branch network and advanced online services make it one of the most accessible housing finance providers in the country.
2. LIC Housing Finance Ltd.
Next on the list, LIC Housing Finance, a subsidiary of the Life Insurance Corporation of India, has built a reputation for affordable loans and customer-centric policies since its inception in 1989, that we can say for sure. With rates beginning around 8.35% and repayment terms up to 20 years, LIC Housing caters to a diverse customer base, including NRIs and business owners. All in all, yes, its robust branch presence, combined with user-friendly online services, makes applying for and managing loans seamless for clients across India.
3. PNB Housing Finance Ltd.
As a subsidiary of Punjab National Bank, PNB Housing Finance has been recognized for offering accessible home loans since 1988. Going into the specifics, well, with rates starting at 8.8% and terms extending to 30 years, PNB Housing serves both salaried and self-employed clients, with a focus on transparent processes and swift digital services. Sure, right here in India, its wide branch network supports customers in accessing funds quickly, making it a go-to option for those seeking reliable and efficient home financing.
4. ICICI Home Finance
We must say that yes, ICICI Home Finance is an amazing option for its efficient loan portfolio suited for both local citizens and NRIs. Through ICICI, you can obtain a loan of your own choice like buying, improving, and refinancing your house. Generally, the people of India prefer this bank for easy loan processing through the internet on their laptop since ICICI offers the best 8.75% interest rate and long tenure of repayment of up to 30 years.
5. Bajaj Housing Finance Ltd.
Next on the list, Bajaj Housing Finance Ltd, a stepchild of Bajaj Finance Limited, in a very short period, has made its way into the market with very attractive rates beginning from 8.5%. Its main strengths are the efficient processing of applications, the use of digital technology to handle all processes, and flexible repayment options that have made this company one of the most desired lenders by consumers who want to pay low EMIs, you know?
6. Indiabulls Housing Finance Ltd.
Then, Indiabulls Housing Finance has been in the affordable housing finance sector since 2005, with rates that start around 8.8% and terms that can last up to 21 years. Just so you know, the company is involved in facilitating home and construction loans, and it has a smart management tool with the help of which the customers have a digital channel 24/7 to attach the funds effectively and can be said that the company is the main facilitator of funds in the market.
7. Tata Capital Housing Finance Ltd.
With the backing of Tata Group, yes, Tata Capital Housing Finance is a reputable name in the housing loan segment right here in India, and we don’t even need to tell you why. Interest rates begin at 8.75%, and customers can choose a loan duration of up to 30 years. All in all, we must say that yes, Tata Capital is the choice for first-time property buyers as it provides quick loan disbursal, easy paperwork, great customer support, and digital capabilities, all of which are the Hallmarks of its service delivery.
8. Aditya Birla Housing Finance Ltd.
Next on the list, Aditya Birla Housing Finance, an Aditya Birla Group company, has also a good reputation for its low total rates, which start from 8.8%, and also for its one-on-one service to every borrower, you know? Not just that though, the company launches loans to both home buyers and renovation projects. And yes, the digital platform that the company has lets customers manage their loans very easily which is making them more trustworthy and straightforward.
9. Shriram Housing Finance Ltd.
Focused on providing affordable housing loans for economically weaker sections and particularly underserved communities, Shriram Housing Finance is a part of the Shriram City Union Finance group and they target potential customers who have no sustainable income because of their unstable jobs. With this one though, interest rates start from about 9.5% and a maximum of up to 25 years and the company offers customers different kinds of eligibility flexibility including those people with limited formal incomes.
10. Aadhar Housing Finance, Ltd.
Summing up our list today, Aadhar Housing Finance, established to assist economically disadvantaged groups, has become the go-to source for affordable housing loans right here in India. Like, they have affordable rates starting at 11.75% and flexible terms lasting a maximum of 30 years. They target low-income families who would otherwise be unable to afford a house, that’s kinda their main goal, and that’s why we have included them in this list today.
Conclusion
There you have it. By far, as of 2024, these are your best options if you are looking forward to getting help or using the services of a housing finance company. Or it could be that you were looking forward to investing in a company in this specific niche, in that case also, these are your best bets.