If you are a woman and you need a loan to build a house, then the details mentioned in this article can be beneficial for you. Here we have shared with you the details of home loan schemes and interest rates for women in various banks. So stay with us for full details –
Home Loan 2022 for Women –
Various financial institutions and banks offering home loans offer special discounts to women. However, every bank offering home loan offers loan facility on certain terms. The interest rates of every bank on the same home loan are also not the same.
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Details of affordable home loan interest rates and processing fees for women –
Here we have given information about home loan interest rates and processing fees of some banking institutions. Which provide the facility of taking affordable home loans for women. In this, you can choose the bank with low interest according to you and take a home loan. On the basis of the table given below, you can see which bank loan is the cheapest which is for women –
|banks’ name||Rate of interest||processing fee|
|Union Bank||6.40 – 6.80 percent||Max 15000|
|Bank Of Baroda||6.5 – 8.75 percent||Max 15000|
|Kotak Mahindra Bank||6.55 – 8.50 percent||as per bank rules|
|state Bank of India||6.65 – 7.25 percent||max 30000|
|ICICI Bank||6.65 – 7.50 percent||as per bank rules|
|HDFC bank||6.70 – 7.85 percent||max 3000|
|Punjab National Bank||6.50 – 7.35 percent||Max 15000|
|Axis Bank||6.90 – 8.55 percent||Max 15000|
|City Bank||6.75 – 8.55 percent||as per bank rules|
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Information about the bank giving cheap home loans to women
Union Bank Of India –
It is also considered as one of the best and cheapest bank to take home loan. This bank charges an interest rate along with the loan in return for giving the loan. If a woman is a salaried woman, then in return for her, you get an interest of up to 6.40 percent, in which the maximum interest is 7.0 percent.
If the same woman has any employment of her own, for that the woman has to pay interest of 6.45 percent and maximum 6.80 percent. In taking this loan, you get the same loan in which you get a loan based on the value of your land.
To take a loan from this bank, along with interest, you have to pay a processing fee of 0.50 (maximum 15 thousand) to this bank. Apart from this, GTS has to be given separately.
Bank of Baroda –
Bank of Baroda is also one such bank which provides loan facility to women to build a house. Bank of Baroda also gives loan at very good interest rate. On taking a loan from this bank, it gives you a loan at an interest rate ranging from 6.5 to 8.75 percent.
If a woman is a salaried woman, then in return for her, you take interest up to 6.50 percent, in which the maximum interest is 8.75 percent.
If the same woman has any employment of her own, for that the woman has to pay an interest of 6.75 percent and a maximum of 8.75 percent. In taking this loan, you get the same loan in which you get a loan based on the value of your land.
On taking a loan from Bank of Baroda, it takes 0.50 percent of the loan amount from you as processing fee of this loan (Minimum 8000 and Maximum is 15000) You will get maximum 30 years to repay the loan taken from Bank of Baroda may seem.
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Kotak Mahindra Bank –
Any woman who needs a home loan can also take a home loan from Kotak Mahindra Bank. On taking a loan from this bank, interest amount ranging from 6.55 to 8.50 percent has to be paid on the loan amount. When taking a loan from this bank, the applicant does not have to pay anything as processing fee on the loan, although there is a normal processing fee of 0.05 to 0.50 percent.
Apart from all this, there are many other banks which give such loans. You have been told about the top 10 banks in the above table, which you can see.
What are the charges that may have to be paid while taking a home loan?
Some of these hidden charges may be levied on taking home loan from the bank –
- processing fee This fee is deducted as soon as the loan amount arrives in the applicant’s account.
- Application Fee Whenever you apply, you have to pay this fee at that time.
- legal fees This also comes as a hidden charge.
- physical visit fee After applying for the loan of the application, whenever the personnel of the bank come to visit the house, then at that time also some charge has to be given to the bank.
- late payment fee Whenever you are left to pay the installment of taking loan or make late payment, then some charge has to be paid in the form of late payment fee.
- annual fee This fee is collected by the bank once a year according to the loan amount.
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Documents required while taking home loan for women –
If you are thinking of taking a loan from the bank, then these documents may be required for that –
- Three passport size photographs of the applicant
- Application form given by bank
- residence certificate
- Bank statement of last 6 months
- property information
- Other loan information
Apart from all this, the bank may ask for many more affidavits from you.
What to do for women to take home loan –
To take a home loan, you have to attach all these documents together and submit it to the bank along with the bank form. If your documents are found correct in the bank check, then after that you get the loan amount. If your documents are found to be wrong then your loan may also get rejected.
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