Home loans of almost every bank have become costlier. When it comes to home loans, most of the commercial banks choose floating rate option as per the repo rate of RBI. Home loan depends on age, income, people living in the house, income of your life partner, your salary or stability of business and property
In the last few days, many banks have increased the loan rates for their customers. Because of which home loans of almost every bank have become expensive. When it comes to home loans, most of the commercial banks choose floating rate option as per the repo rate of RBI. Home loan depends on age, income, people living in the house, income of your life partner, your salary or the stability of the business and property.
The interest rate of home loan is also decided according to the bank.
The home loan interest rate also depends on which bank you are applying for the loan. RBI says banks are allowed to charge margin plus risk premium over and above the external benchmark rate from borrowers. In this case, you should note that the final rate depends on the risk premium which depends on CIBIL or other factors.
These banks are giving loans at the lowest interest
HDFC Bank, the largest private sector bank, offers home loans at a minimum interest of 8.5 per cent and a maximum of 9.4 per cent per annum. At the same time, Indian Bank is also offering home loans to its customers accordingly. Punjab National Bank is giving home loan at minimum 8.5% and maximum 10.1% per annum. IndusInd Bank is offering home loans to its customers at a minimum of 8.5 per cent and a maximum of 10.55 per cent per annum. Bank of India is offering an interest rate of minimum 8.5 per cent and maximum 10.6 per cent per annum to its customers. IDBI Bank is offering home loans at a minimum of 8.55 per cent and a maximum of 10.3 per cent. Bank of Maharashtra is offering home loans at a minimum of 8.6 per cent and a maximum of 10.3 per cent. Bank of Baroda gives home loan at minimum 8.6% and maximum 10.5%. SBI minimum 8.7 percent and maximum 9. Provides home loan at 65%. Union Bank of India offers home loans to its customers at a minimum of 8.7 per cent and a maximum of 10.8 per cent.
