Home loan interest rate You can easily buy your favorite house through a home loan. But in this you have to pay interest along with the price of the house. If you are also planning to take a home loan in the near future. Then this article can be very useful for you. Today we will know which banks are charging the lowest interest on home loans.
Through home loan, you can buy a house, and the burden of expenses of the new house is also less on your savings. The tenure of home loan is usually very long. In such a situation, everyone would want to pay minimum EMI or interest.
Today we will know about such banks which are charging the lowest interest on home loans. However, we would advise that before taking a loan, check the interest rate once again on the bank’s website. Along with this, keep in mind how much pre-closure or foreclosure charge the bank is charging.
Banks charging the lowest interest
Among all the banks, SBI i.e. State Bank of India is charging the highest interest on loans. The bank is charging 8.25 percent interest from its customers.
Along with this, HDFC Bank is charging up to 8.70 percent interest on home loans. Before the change in repo rate, this rate was 9.55 percent.
ICICI Bank is offering up to 9 percent interest on home loans.
Punjab National Bank is charging 8.50 percent interest on home loans.
Along with this, Indian Bank is charging 8.95 percent and Bank of India is charging up to 7.90 percent interest.
Out of all these banks, Bank of Maharashtra is charging 7.85 percent interest on home loans.
You can also reduce EMI like this
If you want to reduce EMI as much as possible, then increase the value of your down payment. By this, you will take a loan of less amount from the bank. At the same time, EMI will also be reduced. Along with this, even if the credit score is good, the bank or financial
institution gives loans at a lower interest rate.
Whenever you get lump sum money, invest this money in repaying the loan. By this, your principal amount will be reduced. At the same time, you will have to pay less EMI in future.
