Home loans are loans taken by people who buy their house and take the required money from Banks & Financial Institutes. In India a person can get up to 85% of the amount of house plus registration & other charges is given to the customer who is buying a loan in a new building & 75% for old building.
Leading Banks conduct research on the projects & customer profile for giving a loan. The interest rate differs according to customers for eg: A salaried customer would get loan at a cheaper rate while a self employed would have to bear higher interest rate. Procedure is also different i.e. a salaried customer can get the loan easily while a self employed may have some problem in getting the loan.
The interest rate also differs from bank to bank. The interest rate is less from nationalized banks then comes private banks & then NBFC's.