Top 5 NBFCs Offering High LTV Home Loans in India (Up to 90%)

In India, Non-Banking Financial Companies (NBFCs) have emerged as strong players in the financial sector, offering a variety of loan products with attractive terms and competitive interest rates. Among these products, home loans have gained significant popularity due to the increasing demand for property ownership across the country. One of the most attractive features of home loans is the Loan-to-Value (LTV) ratio, which is the percentage of the property’s market value that a lender is willing to finance. In India, the LTV ratio for home loans typically ranges from 75% to 90%, with higher LTV ratios allowing borrowers to avail larger loans with less upfront investment. For first-time homebuyers or individuals seeking to refinance their existing homes, NBFCs that offer high LTV home loans are ideal. Here, we take a look at the top 5 NBFCs offering home loans with high LTV ratios of up to 90%.

1. HDFC Ltd. (Housing Development Finance Corporation)

• LTV Ratio: Up to 90%
• Interest Rate: 8.30% to 10.50%
• Processing Fee: 0.50% to 1% of the loan amount
• Loan Tenure: Up to 30 years

HDFC Ltd., one of the most well-known and established NBFCs in India, is a top choice for home loan seekers. It offers an LTV ratio of up to 90% for property purchases, making it one of the most attractive options for borrowers who need higher financing amounts. HDFC provides home loans for a variety of purposes, including home purchase, construction, renovation, and balance transfer. Additionally, they offer competitive interest rates, flexible loan repayment options, and quick processing of home loan applications. Key Benefits:

• Higher LTV ratio (up to 90%).
• Personalized assistance for loan processing.
• Flexible repayment options with tenure up to 30 years.
• Attractive interest rates and EMI options.

HDFC Ltd. also offers several value-added services like home loan insurance and the option to transfer an existing home loan from other banks to HDFC with the same high LTV ratio.

2. LIC Housing Finance Ltd.

• LTV Ratio: Up to 90%
• Interest Rate: 8.50% to 10.50%
• Processing Fee: 0.50% to 1.50% of the loan amount
• Loan Tenure: Up to 30 years

LIC Housing Finance Ltd., a subsidiary of Life Insurance Corporation of India (LIC), is another popular choice among homebuyers. It offers home loans with an LTV ratio of up to 90%, enabling borrowers to finance a significant portion of their home purchase without having to arrange for a large down payment. LIC Housing Finance’s competitive interest rates and flexible tenure options make it a reliable choice for borrowers looking for affordable home loans. Key Benefits:

• Attractive LTV ratio up to 90%.
• Lower processing fees.
• Extensive network of branches for customer support.
• Special offers for women applicants and senior citizens.

LIC Housing Finance also provides various home loan products like loan against property and home loan top-up, which come with the same high LTV benefits.

3. Bajaj Finserv

• LTV Ratio: Up to 90%
• Interest Rate: 8.60% to 13.50%
• Processing Fee: Up to 1.5% of the loan amount
• Loan Tenure: Up to 30 years

Bajaj Finserv is known for offering innovative financial solutions with quick processing and high LTV ratios. The company offers home loans with an LTV ratio of up to 90%, making it one of the top NBFCs for borrowers seeking higher loan amounts with less down payment. Bajaj Finserv offers flexible EMI options and a fast-track approval process, making it an ideal choice for borrowers who need quick financial assistance. Key Benefits:

• High LTV ratio of up to 90%.
• Instant loan approval and fast disbursal.
• Competitive interest rates.
• Additional benefits for existing customers.

Bajaj Finserv also provides top-up home loans, which allow borrowers to avail additional financing without the need for revaluation or providing fresh documentation.

4. Aditya Birla Housing Finance Ltd.

• LTV Ratio: Up to 90%
• Interest Rate: 8.35% to 9.80%
• Processing Fee: 0.50% to 1% of the loan amount
• Loan Tenure: Up to 30 years

Aditya Birla Housing Finance Ltd. is part of the Aditya Birla Financial Services Group and has made a mark in the housing finance sector. It offers home loans with an LTV ratio of up to 90%, allowing borrowers to avail substantial funding for their home purchase or construction. Aditya Birla Housing Finance is known for its customer-centric approach, low interest rates, and quick processing time. Key Benefits:

• High LTV ratio (up to 90%).
• Low processing fees.
• Customizable loan repayment schedules.
• Fast approval and disbursement process.

Aditya Birla Housing Finance also provides pre-approved loans, which can speed up the home loan application process for eligible customers.

5. PNB Housing Finance Ltd.

• LTV Ratio: Up to 90%
• Interest Rate: 8.50% to 9.90%
• Processing Fee: 0.50% to 1% of the loan amount
• Loan Tenure: Up to 30 years

PNB Housing Finance Ltd., a subsidiary of Punjab National Bank (PNB), offers home loans with an LTV ratio of up to 90%. The NBFC is known for its customer-friendly policies, making home loan borrowing easy and affordable for Indian citizens. PNB Housing Finance offers loans for purchasing new or existing homes, construction, and even renovation purposes. Their quick processing times and competitive interest rates make them a preferred choice for homebuyers. Key Benefits:

• LTV ratio up to 90%.
• Wide range of loan products for various purposes.
• Personalized loan options with flexible repayment terms.
• Offers balance transfer facility.

PNB Housing Finance also provides home loan top-ups with the same high LTV ratio, making it convenient for borrowers to access additional funds for home improvement or other needs.

Conclusion

The home loan market in India has witnessed significant growth in recent years, and NBFCs have played a crucial role in providing easy access to financing for homebuyers. Among the various NBFCs offering home loans, those providing high LTV ratios of up to 90% are in great demand, as they help reduce the financial burden on borrowers who might not have sufficient savings for a large down payment. HDFC Ltd., LIC Housing Finance, Bajaj Finserv, Aditya Birla Housing Finance, and PNB Housing Finance are among the top players offering high LTV home loans. These NBFCs provide competitive interest rates, flexible loan tenures, and various additional benefits, making them ideal choices for borrowers seeking to purchase, construct, or renovate their homes. However, it is essential for borrowers to carefully assess their financial situation, loan eligibility, and the terms and conditions offered by different lenders before committing to a home loan. Comparing multiple offers can help secure the best deal for your dream home