Comparative Analysisof Homeloanb/W Hdfc and Icici Bank

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1. Introduction:
Purchasing the home of your dreams is not an easy task. Especially when you plan to buy a home on loan. Home loans means that you buy a house on installments. In simpler terms when you want to own a home and cannot afford to pay the amount in lump sum, you can pay it in monthly installments with an interest rate. There are number of companies offer cheap loans at a low interest rate You can avail loan against existing house for renovation or expansion etc. The demand for home loans will not sag much. The reason is a substantial rise in the income-generating capability of Indian youth. So this particular section will keep the housing loan demand high and increased lending rates can only shelve their plans for some time.. 1.1 Background: The research report also discusses the outlook of Indian housing sector, role of housing finance companies, growth of housing finance market, housing finance disbursements and housing loan disbursements by private sector banks. Every one of us has a dream to own a house I life time. Although home loans are given by almost all the Banks of India, purchasing the home of our dreams is not an easy task. As the salaried population living in India is in larger percentage, like any other country, when one decide to own a house, one cannot afford to pay the entire amount in lump sum. So, the banks in India are offering housing finance with easy installment schemes with relevant interest rates to the buyers, which reduces their burden and allow them to decide to own a house without any hesitant mind.

Providing Home Loans in India came to its full boon in the recent years and now it is spread on a huge scale as many banks are coming to offer the Home loans in different special schemes to attract more number of buyers. There are numerous nationalized as well as private banks that offer Real estate Mortgage Home Loans in a hassle free manner in India these days. The process of availing a home is made very easy that almost any middle class; especially salaried class population of India dreams to achieve their own house in their life time.

Though lots of attractive and cheap home loans are available in India, one must be very cautious to choose the right one. There are numerous factors one must take into consideration while applying for the right Home loan. For example, one must first see for the first and foremost factor that which top finance companies or Banks offer cheap home loans or loan at a low interest rate. This is too important, since there are number of Banks and finance companies flooded in the market to disturb the good ideas of the buyers, by their attractive marketing or complementary offers. Choosing the right offers means it should satisfy the buyer’s repayment capacity significantly and the loan should not lead the buyer to trouble or any other dilemma in future.

In India there are many prominent nationalized banks and private banks that offer easy home loans to the prospective buyers. These banks offer Home loans to the prospective buyers to purchase either fresh or old house. Further loans are also provided for home upgrading or repair, extension of houses etc.The facilities provided by these banks include Low interest rates, Door-step service, Can transfer your existing high-interest rate loan, Free personal accident insurance, Up to 80% funding for selected properties. 1.2 Industry overview: In India there are many prominent nationalized banks and private banks that offer easy home loans to the prospective buyers. These banks offer Home loans to the prospective buyers to purchase either fresh or old house. Further loans are also provided for home upgrading or repair, extension of houses etc.The facilities provided by these banks include Low interest rates, Door-step service, Can transfer your existing high-interest rate loan, Free personal accident insurance, Up to 80% funding for selected properties.

UNIQUE FEATURES OF HOUSE LOAN

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