You can also take a home loan at a cheaper rate from the country’s largest bank, SBI. The bank is currently offering home loans at 8.6 percent to 9.65 percent annual interest rate under a special campaign.
To own their dream home in New Delhi, people also take home loan. If you are also ready to buy a house in this festival season and are looking for a cheap home loan, then there are some good options for you.
Yes, remember one thing that this option is for those customers whose CIBIL score is good i.e. more than 750. Home loans of people with good CIBIL score also get approved quickly. There are some government and some private banks where you can apply for cheap interest rate home loan.
SBI Home Loan
You can also take a home loan at a cheaper rate from the country’s largest bank, SBI. The bank is currently offering home loans at 8.6 percent to 9.65 percent annual interest rate under a special campaign.
If your CIBIL score is 750 plus then you can get loan at 8.6 percent also. People with CIBIL score between 700-749 can take home loan at an interest rate of 8.7 percent per annum. It is relatively cheaper by 55-65 basis points above the normal interest rate.
ICICI Bank Home Loan
Private sector ICICI Bank is also offering home loans between 9.25 percent to 9.65 percent (salaried class) and 9.40 percent to 9.80 percent (for self-employed) for homes costing up to Rs 35 lakh.
For home loans between Rs 35 to 75 lakh, the interest rates range between 9.5-9.8 per cent (salaried class) and 9.65 – 9.95 per cent per annum for the self-employed.
According to the Livemint story, if you take a loan of more than Rs 75 lakh, the interest rate applicable is 9.6 – 9.9 percent (for salaried employees) and 9.75 – 10.05 percent (for self-employed individuals).
You can also take loan from these banks
HDFC Bank, the largest private bank, offers home loans at standard interest rates which range between 8.75 to 9.40 percent per annum. The interest rate on special home loans ranges between 8.5 to 9.15 percent per annum.
Similarly, Kotak Mahindra Bank home loan starts from 8.7 percent for salaried individuals and 8.75 percent for self-employed individuals. Public sector Bank of Baroda is offering home loans to both salaried and non-salaried individuals at interest rates between 8.4 to 10.60 percent.
