The Reserve Bank of India (RBI) kept interest rates steady for the seventh consecutive time in its policy review on April 5. Due to this, most of the banks have not made any change in the interest rates on home loans.
Home loan is a long term loan. Home loans usually last for 15 to 20 years. Due to this, people have to pay huge amount as interest. If the interest rate is low, there is huge savings on home loan in the long run. We are telling you about those 5 banks which are giving home loan at the lowest interest.
If you look at the current home loan interest rates offered by the top 5 banks – Bank of Baroda, Punjab National Bank, SBI, HDFC Bank and ICICI Bank, you will find that their rates range from 8.4% to 10.90%. You can save big by taking home loan from these banks.
Bank of Baroda
Bank of Baroda (BoB) home loan interest rates start from 8.4% per annum to 10.90% for tenures up to 30 years.
Punjab National Bank
Punjab National Bank home loan interest rates start from 8.4% per annum and go up to 10.25% per annum (on floating basis) for tenures up to 30 years.
SBI Home Loan
State Bank of India (SBI) is currently offering home loan interest rates starting from 8.50% per annum to 9.85% for tenures up to 30 years.
HDFC bank
HDFC Bank home loans start at 8.7% per annum for tenures up to 30 years and loan amounts up to Rs 10 crore. One can avail a loan up to 90% of the property price.
ICICI Bank
ICICI Bank currently offers home loan interest rates starting at 8.75% per annum for tenures up to 30 years. The bank charges a processing fee of 0.5%.
Canara Bank and Central Bank
Canara Bank and Central Bank of India are charging interest at the rate of 8.5 percent on home loans. The EMI on a home loan of Rs 75 lakh for a tenure of 20 years will be Rs 64,650. The interest rate on home loan in Kotak Mahindra Bank starts from 8.7 percent. The EMI on a home loan of Rs 75 lakh for a tenure of 20 years will be Rs 65,550.
TCS Salary Hike : Announcement of increase in salary of TCS employees by 15%, check details here
