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Top 10 Best Housing Finance Companies in India 2019

The Indian economy is attentively related to a financial system, very much like other countries, with financial services companies accountable for the energetic growth of the economy. When it comes to describing a financial system of India, it’s mandatory that the formation of a direct link between intermediary institutions and regulatory institution should be done.

This requirement can be done with ease by the best financial companies running all over India for numerous years. Several most important financial services offered by finance companies include fund useful include mutual funds, housing financing, insurance, debt collection, credit reporting, investment advisory and much more. Here we have compiled a list of Top 10 Housing Finance Companies in India 2019 you should check. So, let’s keep going!

IFCI Limited

The IFCI Limited was established back in 1948 – offering quite a few great services to the Indians who are related to housing and infrastructure. The IFCI Limited has a market capitalization of INR 3,639Cr. And it’s one of the best Housing Finance Companies all over India. It’s the one which is acquired by the Indian government.

Muthoot Finance

Secondly, Muthoot Finance is a common mane and everyone knows about it already whenever it comes to housing finance companies in India. Muthoot Finance Company was founded back in 1939 and have provided dazzling and amazing services across India. As compared to IFCI Limited, Muthoot Finance Company has a market capitalization of INR 6,963Cr. There is an extensive amount of services being offered by Muthoot.

Shriram Transport Finance Company

It’s one of the best Private Housing Finance Companies – founded back in 1979 and have provided loans in numerous commercial vehicle loans. They have a less market capitalization – INR 16,999Cr. But Shriram Transport Finance Company has more than 500 branches across India. Interestingly, STFC is registered with a Reserve Bank of India.

L&T Finance LTD

L&T is an abbreviation of Larsen & Toubro which entered the real-estate market in a grand way. L&T has built a lot of properties in major cities and satellite townships in India. Furthermore, L&T has introduced its eponymous NBFC to offer housing finance. Besides, L&T Home Finance is offering loans form home and properties developed by L&T and other builders as well.

Rural Electrification Corporation Limited

The Rural Electrification Corporation was founded back in 1969 and it’s providing financial aid to several power projects i.e. Hydropower projects, thermal power project, and various other projects. The RECL has a market capitalization of 18,139Cr and it’s a government enterprise and focuses on developing the rural areas.

IFDC (Infrastructure Development Finance Co.)

The IFDC which is known as Infrastructure Development Finance Co. is among the top 10 housing companies in India. It was founded back in 1997 and it’s ideal in so many projects which are related to energy, parks, roads, and plenty of more things. The Infrastructure Development Finance Co. has a market capitalization of INR 6,655 CR and aim at giving their best services to India.

LIC Housing Finance Limited

Another top famous housing finance company in India is said to be “LIC Housing Finance Limited”. It came intro incorporation back in 1989 with its headquarters based in Mumbai, Maharashtra. The LIC basically is currently dealing in two major sectors which include mortgage loans and easy home loans at the unmatched interest rate for an extensive amount of people to a large extent. Not only this but also LIC Housing Finance Company is working under “Life Insurance Corporation of India”.

PNB Housing Finance Limited

The PNB Housing Finance Company is known to deliver exquisite and premium solutions for releasing a borrower segment and thus placed in that list. The company’s Home Loan Life Insurance Plan was team up with TATA AIG – through the lowest premium in comparison to peers. PNB started working back in 1988 whereas a financial service group founded in 2009. It’s a subsidiary branch of PNB has registered a growth a 73% which makes it a leading company of India.

ICICI Group

To expand a file of financial services, ICICI Group offers solutions such as Insta Insure, Online Trading, InstaBanking and ICICI Bank immobile, etc. The main aim of the ICICI group is to offer high-class financial services in all segments of a society and it’s perfect with securities, mutual fund, life insurance, and private equity, etc. The ICICI Group was founded back in 1954 and has headquartered in Mumbai. ICICI Group has owned an exceptional team of CA, MBA that strives to deliver best in quality financial services to the Indians.

Bajaj Capital Limited

Last but absolutely not the least, Bajaj Capital Limited is one of the leading companies in India – delivering best investment advisory and financial planning services since 1965. The services are spanned out to NRIs, institutional investors, Corporate Houses, Individual investors, and others. Putting it aside for a while, Bajaj is acknowledged as a major provider of Finance products presented by private administrations, public, many government bodies, and general insurance, etc.

Here are a few questions alongside their answers to understand what a finance company is and which one is the best.

What are Housing Finance Companies?

A Housing Finance Company is a company which is registered under Companies Act, 1956 (1 of 1956) that chiefly manages or has one of its principal objects – the transacting of a business or providing finance for housing no matter directly or indirectly.

Which One is the Best Finance Company in India?

The best government and Private Housing Finance Companies include Bajaj Capital, ICICI Group, PNB Housing Finance, and LIC Housing Finance. Moreover, IFDC (Infrastructure Development Finance Co., Rural Electrification Corporation Limited, L&T Finance Limited, Shriram Transport Finance Company, Muthoot Finance, and IFCI Limited are also one of the best housing finance companies in India.

Which Bank is perfect for Home Loan in India?

The top-rated Banks Home Loan & Interest Rates in India 2019 are as follow:

SBI Home Loan

  • Loan Amount: 10 Cr.
  • Interest Rate: 8.80%-9.35%
  • Processing Fee: 0.25 of a Loan Amount + Applicable Taxes
  • Max. Tenure: 30 Years

ICICI Home Loan

  • Loan Amount: 10 Cr.
  • Interest Rate: 9.10%-9.30%
  • Processing Fee: 0.5% of a Loan Amount + Applicable Taxes
  • Max. Tenure: 30 Years

Axis Bank Home Loan

  • Loan Amount: 10 Cr.
  • Interest Rate: 8.90%-12%
  • Processing Fee: Up to 1% of a Loan Amount (Minimum RS 10,000)
  • Max. Tenure: 30 Years

HDFC Limited Home Loan

  • Loan Amount: 10 Cr.
  • Interest Rate: 8.90%-9.65%
  • Processing Fee: 0.50% of a Loan Amount (Minimum RS 3,000)
  • Max. Tenure: 30 Years

PNB Housing Loan

  • Loan Amount: 10 Cr.
  • Interest Rate: 8.70%-8.95%
  • Processing Fee: 0.35% of a Loan Amount (Minimum RS 2,500, Maximum RS 15,000)
  • Max. Tenure: 30 Years

What is NBFC in India? It’s a Non-Banking Financial Company in India – registered under the Companies Act, 1956 of India and engaged in a business of advances, loans, acquisition of shares, bonds, hire-purchase insurance or chit-fund business. But not includes industrial activity or sale, purchase, agriculture or construction of immovable property.

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