After the Reserve Bank of India cut the repo rate, many banks in the country have also reduced the interest rates on home loans. In fact, things like your credit score, repayment history, financial status are very important in home loans.
Cheapest Home Loan: The demand for houses is increasing rapidly across the country. Interestingly, the demand for houses is no longer limited to low budget or medium budget but has reached high budgets.
With the increasing demand for housing, the demand for home loans is also increasing significantly. Home buyers are now taking home loans to purchase homes not only in big cities but also in small towns.
If you are also thinking of taking a home loan to buy a house, then this news is just for you. Here we are going to tell you about 5 banks which are offering home loans at the lowest interest rates to their customers.
After the Reserve Bank of India cut the repo rate, many banks in the country have also reduced the interest rates on home loans. Actually, things like your credit score, repayment history, financial condition are very important in home loans. If your credit score, repayment history and financial condition are good, the bank will give you a loan without any problem and if not, it can be very difficult to get a loan. Let’s know which bank is giving home loans at what interest rate.
Union Bank of India is offering home loans at an initial rate of 8.10 percent. Bank of Maharashtra is also offering home loans at an initial rate of 8.10 percent.
Bank of Baroda is offering home loans to its customers at an initial rate of 8.15 percent. Punjab National Bank is offering home loans to its customers at an initial rate of 8.15 percent.
Processing Fee: Banks also charge processing fees for home loans or any other loan. Different banks charge processing fees at their own discretion. Some banks charge processing fees on the loan amount, while some banks charge a fixed amount. Also, there are some banks which do not charge processing fees for home loans. You can visit your bank for more information about home loans.
