LIC Housing Finance is offering home loans at 6.90% per annum interest
SBI is offering home loans at 6.95% per annum interest
Property prices have fallen in the Corona Crisis. That is why if you are planning to buy a house, then this may be the right time. Apart from this, home loan interest rates have also come down to their lowest level. Many financial institutions including Union Bank and LIC Housing Finance Limited are currently giving loans at less than 7% interest. We are telling you about the home loan interest rates of similar banks. You can apply for loan in any of these as per your convenience.
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Know which bank is offering loan at what interest rate
| Bank | Interest rate ( % ) | Processing fee |
| Union Bank of India | 6.70 – 7.15 | 0.50% of loan amount (10 thousand rupees maximum) |
| Bank of india | 6.85- 7.75 | 0.25% of loan amount (20 thousand rupees maximum) |
| LIC Housing Finance | 6.90-7.00 | Not sure |
| Canara Bank | 6.90 – 8.90 | 0.5% of loan amount (10 thousand rupees maximum) |
| Bank of baroda | 7- 8.50 | 0.5% of loan amount (25 thousand rupees maximum) |
| State Bank of India | 6.95- 7.50 | 0.5% of loan amount |
| ICICI Bank | 6.95- 8.05 | 0.5-1% |
| Bank of Maharashtra | 7.05- 8.45 | 0.25% of loan amount (25 thousand rupees maximum) |
| Punjab National Bank | 7.00- 7.60 | 0.35% of loan amount (15 thousand rupees maximum) |
| Central bank | 6.85- 9.05 | 0.5% of loan amount (20 thousand rupees maximum) |
| Indian Bank | 7-8 | Not sure |
If you take a loan at 7 percent interest, how much EMI will you have to pay?
| Home loan amount | 30 lakhs |
| Period | 20 years |
| EMI | Rs 19,382 |
| Gross interest | 25,82,152 Rs. |
| Total payment | 55,82,152 Rs. |
