Cheapest Home Loan: After the Reserve Bank of India cut the repo rate, many banks in the country have also reduced the interest rates on home loans. However, things like your credit score, repayment history, financial status matter a lot in home loans.
Cheapest Home Loan: There is a rapid increase in the demand for houses across the country. The special thing is that the demand for houses is no longer limited to low budget or mid budget but has reached high budget. Due to the increasing demand for houses, the demand for home loans is also increasing significantly. Home buyers are now taking home loans to buy houses not only in big cities but also in small cities. If you are also planning to take a home loan to buy a house, then this news is only for you. Here we will tell you about those 5 banks, which are offering home loans to their customers at the lowest interest rates.
All banks made home loans cheaper
After the Reserve Bank of India cut the repo rate, all the banks of the country have also reduced the interest rates of home loans. However, things like your credit score, repayment history, financial status matter a lot in home loans. If your credit score, repayment history and financial status are good then the bank will give you a loan without any hassle and if it is not so then getting a loan can be quite difficult. Let us know which bank is offering home loan at what interest rate.
- Union Bank of India is offering home loans at a starting rate of 8.10 percent.
- Bank of Maharashtra is also offering home loans at a starting rate of 8.10 percent.
- Bank of Baroda is providing home loans to its customers at a starting rate of 8.15 percent.
- Punjab National Bank is offering home loans to its customers at a starting rate of 8.15 percent.
- State Bank of India customers can avail home loans at a starting rate of 8.25 percent.
Processing Fees
Let us tell you that banks also charge processing fees for home loans or any other loan. Different banks charge processing fees according to their own. While some banks charge processing fees on the loan amount, some banks charge a fixed amount. However, there are some banks that do not charge processing fees for home loans. You can visit your bank for more information on home loans.
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