A Housing Finance Company (HFC) is A Non-Banking Financial Company (NBFC) primarily engaged in business of financing purchase or construction of a residential unit. This may include direct or indirect funding i.e. purchase or construction of plots or refurbishment of existing home.
The housing finance companies provide home loan to the customers. As you are aware that the cost of real estate is skyrocketing, and it is difficult to purchase a house without a home loan. If you are planning to purchase a house, you have options you can avail home loan from leading banks as well as housing finance companies.
You can avail a home loan from banks or a non-banking finance companies (NBFCs). Housing Finance Companies (HFCs) are a part of NBFCs. You can choose between a bank or an HFC by comparing tenure, interest rate, and processing fees offered by them. Let’s take a look at some of the top housing finance companies in the country.
Capital One Financial Services Divide home loan lenders into Four Group.1. Public Sector Bank 2.Private Sector Banks 3.NBFC 4.Bank & NBFC offering affordable Housing Loan.
- Public Sector Bank.SBI, PNB, UNION BANK, INDIAN BANK, etc will be best for home Loan in 2020.
- Private Sector Bank. HDFC, AXIS, ICICI, IDBI will be Best in 2020.
- NBFC Home Loan Provider: LIC Housing Finance, PNB Housing Finance, Can Fin Housing Finance, GIC Housing Finance, L&T Housing Finance & Birla Housing Finance, etc
- For Affordable Housing Loan. AADHAR Housing Finance, Adani Housing Finance, SUBHAM housing Finance, etc.
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Which is the best home loan company in India?
Housing Development Finance Corporation Ltd ( HDFC ) is the largest and the best home loan company in India based on Turnover.
Top Housing Finance Companies in India 2020
|Sr. No.||Top Housing Finance Companies|
|1||HDFC Housing Finance.|
|2||LIC Housing Finance Limited.|
|3||Indiabulls Housing Finance Limited.|
|4||ICICI Home Finance.|
|5||L&T Housing Finance Limited.|
|6||PNB Housing Finance Limited.|
|7||IIFL Housing Finance Limited.|
|8||GIC Housing Finance Limited.|
|9||Sundaram Home Finance.|
|10||Tata Capital Housing Finance Limited.|
|11||Aavas Financiers Limited.|
|12||Can Fin Homes Limited.|
|13||Repco Home Finance.|
|14||Akme Star Housing Finance Limited.|
|15||Sahara Housing Finance.|
|16||India Home Loan Limited.|
|17||Cholamandalam Housing Finance.|
|18||Dewan Housing Finance Limited (DHFL).|
Top Home Loan Banks and Housing Finance Companies in India
|Sr. No.||Housing Finance Banks||Interest rate (%)|
|1||HDFC Home Loan||6.90%|
|2||SBI Home Loan||6.90%|
|3||Indiabulls Home Loan||8.99%|
|4||ICICI Home Loan||6.90%|
|5||L&T Housing Finance||8.80%|
|6||PNB Housing Finance||7.90%|
|7||Bank of Baroda Home Loan||7.00%|
|8||Axis Bank Home Loan||7.45%|
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Top 15 Housing Finance Companies in India As Per Revenue
|Sr. No.||Top Housing Finance Companies Name||Revenue (Rs. Cr.)|
|2||LIC Housing Fin||19,696.69 Cr.|
|3||Indiabulls Housing||11,399.23 Cr.|
|4||Dewan Housing||9,322.23 Cr.|
|5||PNB Housing Finanace||8,478.32 Cr.|
|7||Can Fin Homes||2,030.41 Cr.|
|8||Reliance Home Finance||1,587.39 Cr.|
|9||Repco Home||1,345.46 Cr.|
|10||GIC Housing Finance||1,247.45 Cr.|
|11||AAVAS Financier||902.29 Cr.|
|12||SRG Housing Finance||71.58 Cr.|
|13||India Home Loan||32.34 Cr.|
|14||Akme Star||15.9 Cr.|
|15||Sahara Housing||12.91 Cr.|
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Top 15 Housing Finance Companies in India As Per Net Profit
|Sr. No.||Top Housing Finance Companies Name||Net Profit (Rs. Cr.)|
|2||LIC Housing Finance||2,401.84 Cr.|
|3||Indiabulls Housing||2,159.91 Cr.|
|5||PNB Housing Finance||682.31 Cr.|
|6||Can Finanace Homes||376.12 Cr.|
|7||Repco Home||280.35 Cr.|
|8||AAVAS Financier||249.12 Cr.|
|9||GIC Housing Finance||45.61 Cr.|
|10||SRG Housing Finance||17.97 Cr.|
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Top 15 Housing Finance Companies in India As Per Market Cap
|Sr. No.||Top Housing Finance Companies Name||Market Cap (Rs. Cr)|
|2||LIC Housing Fin||21,680.32 Cr.|
|3l||AAVAS Financier||17,674.12 Cr.|
|4||Indiabulls Hsg||10,111.57 Cr.|
|6||PNB Housing Fin||7,427.93 Cr.|
|7||Can Fin Homes||6,374.09 Cr.|
|8||Home First||4,697.91 Cr.|
|9||Repco Home||2,076.10 Cr.|
|10||GIC Housing Fin||716.22 Cr.|
|11||Dewan Housing||621.37 Cr.|
|12||SRG Housing Fin||273.98 Cr.|
|13||Akme Star||121.08 Cr.|
|14||Reliance Home F||113.99 Cr.|
|15||India Home Loan||65.7 Cr.|
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Best Housing Finance Companies in India As Per Revenue
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|Rating As Per Revenue|
|2||LIC Housing Finance||2.00 ⭐|
|3||Indiabulls Housing||3.00 ⭐|
|4||Dewan Housing||4.00 ⭐|
|5||PNB Housing Finance||5.00 ⭐|
|7||Can Fin Homes||7.00 ⭐|
|8||Reliance Home Finance||8.00 ⭐|
|10||GIC Housing Finance||10.00 ⭐|
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Top 10 Housing Finance Companies in India 2020
- Housing Development Finance Corporation Ltd.
- LIC Housing Finance Ltd.
- Indiabulls Housing Finance Ltd.
- Dewan Housing Finance Corporation Ltd.
- PNB Housing Finance Ltd.
- Housing & Urban Development Corporation Ltd.
- GRUH Finance Ltd.
- Can Fin Homes Ltd.
- Repco Home Finance Ltd.
- AAVAS Financiers Ltd.
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#1. Housing Development Finance Corporation Ltd.:
The Housing Development Finance Corporation (HDFC) is one of the leading provider of housing finance in India.
HDFC Finance is a leading Housing Finance Company in India which is a subsidiary of HDFC Ltd.
Started Pioneered Housing Finance in the year 1977.
HDFC provide Home Loans for business owners, salaried individuals, self-employed professionals, as well as NRIs.
HDFC also offers HDFC Pre-Approved Home Loan Scheme, HDFC Rural Housing Finance, HDFC Special Home Loan for Agriculturists, and HDFC Extension Loan.
HDFC Housing Finance provides different types of home loan products like plot loan, home improvement loan, rural housing loan, and home extension loan among others.
The interest rates for home loan in HDFC Finance starts from 8.55%.
The company has an extensive distribution network of 588 interconnected offices (including 188 offices of HDFC Sales) with outreach programs to several towns and cities all over India.
3 representative offices in Dubai, London, and Singapore offering Home Loan products to Non-Resident Indians and Persons of Indian Origin. It is the Largest private Indian Housing finance companies in India in terms of Total sales Enhanced distribution through HDFC Sales, HDFC Bank and third party Direct Selling Associates.
The company has offered to 7.9 million housing loans worth Rs.5.4 trillion since 1977.
The HDFC Finance has Operated across Africa, Asia, and East Europe.
HDFC’s Home Loans so popular are features such as:
- Flexible Loan Terms
- Competitive Interest Rates
- Hassle-free Processing
- Other Add on Facilities like Home Loan Balance Transfer and Prepayment Option
Key features of HDFC home loan are given below.
- Faster loan processing.
- Home loan up to 90% of the property cost.
- Excellent customer care services.
- Larger branch network to avail services.
- Internet services for loan repayment.
- Home loan starting from 8.6% to 9.45%
- Total Sales: Rs 109,052 Cr
- Profit: 21,013 Cr
- Market Cap: 422,652 Cr.
HDFC Provide Following Categories:
- Home Loans
- Plot Loans
- Rural Housing Loans
- Inclusive Home Loans
- Home Improvement Loans
- Home Extension Loans
- Top-up Loans
- Balance Transfer Home Loan
- Home Loans For NRI/PIO
|Loan Amount||Interest Rates (p.a.)|
|For Women (0 <=30 Lakhs)||8.55% – 9.05%|
|For Others (0 <= 30 Lakhs)||8.60% – 9.10%|
|For Women (30.01 Lakhs >= 75 Lakhs)||8.80% – 9.30%|
|For Others (30.01 Lakhs >= 75 Lakhs)||8.85% – 9.35%|
|For Women (75.01 Lakhs >)||8.85% – 9.35%|
|For Others (75.01 Lakhs >)||8.90% – 9.40%|
Maximum funding criteria:
|Loan Amount||Maximum Funding (LTV)|
|<= Rs. 30 lakh||90% of the property value|
|Rs 30.01 lakh to Rs 75 lakh||80% of the property value|
|>= Rs. 75 lakh||75% of the property value|
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#2. LIC Housing Finance Ltd.:
LIC Incorporated in India in the year 1989, LIC Housing Finance Limited (LICHFL) is one of the largest Housing Finance Companies in India Subsidiary by LIC.
LIC Housing Finance provides home loans at attractive interest rates for Non-Resident Indians (NRIs), Indian residents, and pensioners. Customers can avail of loans for construction, purchase, extension, plot purchase, house repair, and top-up loan.
LIC Housing Finance provides home loans to all types of customers, self-employed, professionals, including & not limited to salaried, NRIs, etc. The NBFC Provide convenience of applying for a Home Loan online also offline as per customer choice. The maximum loan time provided is 30 years or less than 60 years of the borrower’s age at the time of repayment.
LIC Home Finance’s Home Loan currently started from 6.90%.
The loan of LIC Finance can be borrowed for Rs. 20 Lakhs to 5 crores. The processing fee is 0.25 % of the loan amount.
One of the industry’s most extensive marketing networks in India, with 273 marketing offices.
LIC has appointed nearly 13,343 networks to extend its marketing reach. 23 Back Offices spread across the country conduct credit appraisal and administrative functions.
LIC Housing Finance has set up Representative Offices in Dubai and Kuwait to cater to the NonResident Indians in the GCC countries covering Dubai, Bahrain, Kuwait, Qatar, and Saudi Arabia. Now, LIC Housing Finance Ltd has a proud group of 26 lakh+ prudent house owners.
- LIC Finance Limited is one of the leading companies in the housing finance industry.
- It has a market capitalization of Rs.27,178 Cr.
- Housing loans given out by LIC Housing Finance are worth Rs. 1.95 lakh Cr.
- The lender has managed to woo borrows for the past 3 decades.
- Revenue: Rs 18,917 Cr
- Profit: 2,681 Cr
- Market Cap: 21,919 Cr.
The benefits provided by LIC housing finance are given below.
- Zero Processing Fees.
- Zero Prepayment charges.
- Zero Pre-closure Charges.
- Quick Loan Processing.
- Multiple Loan schemes.
- Competitive interest rates.
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#3. Indiabulls Housing Finance Ltd.:
India Bulls Housing Finance is the best housing finance company. It is regulated by the National housing bank.
India Bulls Housing Finance Ltd. (IBHFL) started in the year 2000, and It is India’s third-largest private housing finance company.
India Bulls has provided 1+ million happy customers across India, and It has cumulatively disbursed loans of over Rs. 2.47 lac Crores.
India Bulls has experienced a loss of close to Rs. 40k to 50k Cr in their market in home loan disbursements. India Bulls had to face all these kinds of problems because of their asset-liability mismatch.
India Bulls has a workforce of 8,100+ employees, more than half of which are dedicated to customer service and sales.
India Bulls Housing Finance has 220+ branches well-appointed and accessible in 110+ towns and cities across India 2 representative offices in London and Dubai offering services to PIOs/NRIs.
India Bulls Housing Finance offers benefits such as flexible tenure options, zero pre-payment charges, and zero pre-closure, among others. The interest rate ranges from 8.80% – 12.00% p.a. The processing fee is 0.50% – 1% of the loan amount.
The interest rate will vary as per loan amount, valuation of property, customer profile, tenor, etc. The fee of processing is up to 2% of the loan amount.
The India Bulls Housing Finance Limited Company offers end-to-end online fulfillment of Home Loan processing options to all customers. Who can apply through the India Bulls application or website.
The India Bulls Home Loan can be applied as Home Improvement Loan, Home Construction Loan, Rural Home Loan, Balance Transfer Home Loan, Home Extension Loan, and NRI Home Loans.
Eligible customers may avail of the benefit of PMAY CLASS. The self-employed customers also apply for MSME, LAP, or ECLLGS against a residential property.
The borrower should be anywhere and anyone between the age of 21 years to 65 years to avail of India Bulls Home Loan.
- Total Sales: Rs 15,997
- Profit: 3,503 Cr
- Market Cap: 12,923 Cr.
The key features of India Bulls Housing Finance are given below.
- Zero pre-closure charges.
- Instant Approval of Home loan.
- Approval for High Amount of Loan (Up to 80% of Cost of Property)
- Attractive interest rates.
- Application to disbursal online.
- No Hidden charges.
- Flexible repayment options.
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#4. Dewan Housing Finance Corporation Ltd.:
Dewan Housing Finance Corporation Ltd is one of the top housing finance companies in India. DHFL provides loans against property, home loans, and business loans.
Dewan Housing Finance Corporation Ltd Provides home loans that can be used to buy a new house/flat, renovate or extend an existing house, construct a new house, buy a plot of land, or for any purpose of home construction.
Any kind of self or salaried-employed individuals are eligible for home loans from DHFL. Quantum and Eligibility loan can be increased by adding a co-applicant who also has a regular source of income.
Dewan Housing Finance Corporation’s main business is of providing loans to Purchase residential property or Retail customers for construction, loans against property.
Over three decades, DHFL has been providing easy access and affordable Housing Finance to realize the home-ownership aspirations of millions of Middle and Lower-income families in rural and semi-urban India.
DHFL is the 4th largest Company in the list of Top housing finance companies in India.
- Revenue: Rs 12,270 Cr
- Profit: -1,677 Cr
- Market Cap: 506.82 Cr.
Key features of DHFL are given below.
- Home loan interest starting from 9.75%.
- Loan amount up to 90% of the cost of the property.
- Easy repayment options.
- Loan term up to a maximum of 30 years.
- Online facility to apply for a home loan.
#5. PNB Housing Finance Ltd.:
PNB HFL is one of the leading housing finance companies in India.
PNB Housing Finance Limited (PNB Housing) is a registered housing finance company with National Housing Bank (NHB).
PNB Housing Finance Limited (PNB Housing) was incorporated under the Companies Act, In 1956 and commenced its operations on November 11, 1988. PNB Housing Finance Ltd is promoted by Punjab National Bank (PNB).
PNB Finance came out with a public issue of equity shares in November 2016. Its equity shares are listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
With 3+ decades of specialized experience in housing finance, PNB Housing Finance has a robust network of branches across the country which help customers avail financial services and support (loans and deposits) seamlessly.
The Home Loan can be availed for Rs 20 Lac to Rs 20 Crore. The housing finance scheme for the low-income group is called PNB Unnati Home Loan. The customer should be at least 21 years old to Apply for PNB HFL Home Loan.
PNB Housing Finance offers home loans at a competitive interest rate for residential Indians and also non-residential Indians.
It offers home loans under different schemes that are aimed at the general public, government employees, and others.
The loans from PNB Finance are available at an interest rate as low as 7.50% p.a. Both Indians and NRIs can also apply. The loan can be availed of applying offline or online as per your preference.
- Total Sales: Rs 8,623 Cr
- Profit: 1,348 Cr
- Market Cap: 7,298 Cr.
|Loan Amount||Interest Rate for Salaried/ Self-Employed||Interest Rate for Businessmen|
|Up to Rs.35 lac||9.05% – 11.25%||9.15% – 12.50%|
|Above Rs.35 lac up to Rs.75 lac||9.10% – 11.25%||9.20% – 12.50%|
|Above Rs.75 lac||9.20% – 11.25%||9.30% – 12.50%|
Another mature player in this segment PNB Housing Finance Limited offers Home Loans to its customers for a wide variety of purposes with multiple benefits such as:
- Doorstep Assistance
- Instant Approval
- Enhancement of Loan Amount
- Varied Repayment Options
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#6. Housing & Urban Development Corporation Ltd.:
Housing and Urban Development Co. Ltd. (HUDCO), the premier techno-financing in public sector enterprise in the field of infrastructure and housing development.
HUDCO Ltd is one of the leading housing finance companies in India. HUDCO is headquartered located in the capital of India, New Delhi.
HUDCO Ltd operates through multi-disciplinary and a strong workforce placed over its nationwide network of development and regional offices.
World’s leading knowledge hubs and financial facilitating organizations for habitat development.
Housing and Urban Development Co. Ltd. (HUDCO) has one mission of promoting sustainable habitat development to enhance the quality of human life.
Housing and Urban Development Co. Ltd. (HUDCO) was upgraded to a Schedule-A PSE in 2002 and was also conferred the Mini Ratna status in 2004.
- Total Sales: Rs 6,568 Cr.
- Profit: 1,626 Cr.
- Market Cap: 7,227 Cr.
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#7. GRUH Finance Ltd.:
GRUH Finance Ltd Started operation in 1988 as a subsidiary of HDFC. GRUH Finance Ltd had 195 Branches across 11 states in India.
In rural India, Gruh finance has reached 1,131 Talukas spread over 125 districts.
More than 50% of the loan advanced by the company were in rural areas. The company is 7th on the list of housing finance companies in India.
In October 2019, GRUH finance became a part of Bandhan bank, and its products are available under GRUH Home loans by Bandhan bank.
- Total Sales: Rs 2,110 Cr.
- Profit: 448 Cr.
- Market Cap: 23,321 Cr.
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#8. Can Fin Homes Ltd.:
Can Fin’s home loans have interest rates that start from 6.95% p.a. Loans are provided with a margin of up to 25%.
The maximum repayment period of Can Fin’s Home is 30 years.
Home loan borrowers who are diligent with paying their EMIs can also avail of personal loans and top-up home loans from Can Fin Home Loans. There are also Affordable Housing Loans for the rural and urban sectors. Composite loans are also provided to construct a house and purchase a plot of land on it.
Can fin homes ltd is a housing finance company promoted by Canara Bank in the year 1987, the International year of shelter for the homeless. The company is incorporated under the companies act, 1956. The first HFC Floated by any Nationalised bank in the Country; Founder chairman Shri B Ratnakar.
The main objective of setting up the company was promoting homeownership. The initial shareholders of the company were Canara bank Can Bank financial services, HDFC, and UTI. The company was listed in the year 1991.
- Total Sales: Rs 1,890 Cr.
- Profit: 321 Cr.
- Market Cap: 5,304 Cr.
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#9. Repco Home Finance Ltd.:
Repco Home Finance Ltd provides home loans with interest rates that start from 7.75% p.a. salaried, Professionals, and business class individuals are eligible for these loans.
NRIs are also eligible for Repco Home Finance loans. There are also specially customized home loan schemes for salaried and self individuals who are above the age of 50, which are structured to align with their pension income also.
The maximum repayment period for this loan scheme, called the 50+, is 15 years, with the loan to be repaid by the age of 70 or above. up to 80% of the property cost for the purchase of a flat or house and Up to 85% of the property cost can be availed for home construction.
Plot Loans and Home makeover loans are also available.
Repco Home Finance Ltd (RHFL) is a housing finance company headquartered located in Chennai, Tamil Nadu. Repco Home Finance Ltd is 9th on the list of housing finance companies.
Repco Home Finance Ltd (RHFL) was started in April 2000. The company was registered as a housing finance company with the National Housing Bank (NHB).
At the end of March 2018, RHFL is operating through 131 branches and 29 satellite centers in Tamil Nadu, Jharkhand, Andhra Pradesh, Kerala, Maharashtra, Karnataka, Madhya Pradesh, Odisha, Gujarat, West Bengal, and Puducherry.
- Total Sales: Rs 1,271 Cr
- Profit: 270 Cr.
- Market Cap: 2,057 Cr.
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#10. AAVAS Financiers Ltd.:
Aavas Financiers Limited provides home loans that start from Rs.1 lac with the maximum home loan amount depending on your credit and credit history and income.
The repayment time period is 30 years for government/private sector/PSU employees, 25 years for the salaried, and 20 years for the self-employed (who have a min salary of Rs.35k per month).
The home loan products of Aavas are offered loans for home purchase, home improvement, land purchase, loan against property, home construction, and home loan balance transfer.
AAVAS is primarily connected within the business of providing housing loans to customers belonging to middle and low-income segments in rural and semi-urban areas. Aavas are creditworthy customers who may or may not have the income proof documents like salary slip and IT return; hence are financially excluded by other large housing finance companies and banks.
AAVAS uses a unique methodology to assess these customers individually. The financing solution needs to be appropriated and suitable for them.
- Total Sales: Rs 828 Cr
- Profit: 232 Cr
- Market Cap: 14,551 Cr.