●        Loan disbursal time:
The time for home loan disbursal varies from one bank to another, usually a lender takes anywhere around 10-15 days for loan processing and disbursal. Choose home loan provider which takes lesser time and does not cause unnecessary delays in home loan processing.

●        Loan eligibility:
Home loan eligibility criteria vary from one lender to another. The usual eligibility of an individual is determined by his age, income, work profile and stability, credit history, etc. It is best to check the eligibility using home loan eligibility calculator online to be sure whether you are eligible for the loan or not.

●        Rate of interest- fixed or floating: Some home loan providers charge fixed and some floating rate of interest on home loans. Fixed interest rates are considered ideal for shorter tenure loans and floating for longer tenure loans. Some lenders even offer hybrid home loans in which the borrower can enjoy the benefit of both fixed and floating interest rates.

●        Hidden charges:
Loan providers levy a number of additional charges, such as the processing charge, prepayment or foreclosure charge, etc. It is best to read the fine print before making the final choice so that you do not end up feeling pick-pocketed when such charges are levied.

●        Terms and conditions associated with the home loan:
List of terms and conditions pertaining to repayment, prepayment, loan transfer, and many other things related to the home loan should also be taken into account while choosing a home loan.