Products
Investing
Resources
Credit Cards
Tools & Calculators
Support
CIBIL Score matters tremendously when applying for a home loan. Specifically, the CIBIL Score is the first thing a bank checks upon receiving your loan application. Generally, a CIBIL Score of 700 or above is considered ideal. A CIBIL Score below this criteria is viewed as a low score, and it may result in unfavourable rates and terms, or, in the worst case, you may face rejection. However, this doesn’t mean that there are no options available.
Notably, certain banks are using common sense and take the time to understand you and your situation, not just your CIBIL Score and income history. No computers, no algorithms, no digits; just human and common sense. Thus, they strive to offer the necessary funds along with better rates and terms, irrespective of the past. To learn more about these home loans for low CIBIL Scores, let’s scroll down.
The following are the features and benefits of a home loan with a bad CIBIL score:
The following are the applicable fees and charges concerning a home loan for low CIBIL Scores:
The following are the applicable Fees and Charges for low CIBIL home loans:
The following documents are required for a home loan with a bad CIBIL score:
Here are the interest rates of home loans for low CIBIL Scores from various lenders across India:
| Lenders | Interest rate (p.a.) |
| Bank of Baroda | 8.40% – 10.65% |
| Punjab National Bank | 8.45% – 10.25% |
| State Bank of India | 8.40% – 10.15% |
| Bank of India | 8.30% – 10.75% |
| UCO Bank | 8.45% – 10.30% |
| HDFC Bank Ltd. | 8.75% – 09.40% |
| ICICI Bank | 8.75% – 11.45% |
| Axis Bank | 8.70% – 13.30% |
| Federal Bank | 8.80% – 10.30% |
| Dhanlaxmi Bank | 9.35% – 10.50% |
The tax benefits of a home loan are not directly affected by your CIBIL score. They are available to all borrowers, regardless of their credit score. Here are some of the tax benefits you can avail yourself of regarding a home loan for a low CIBIL score: