Saturday, March 6, 2021
  • About us
  • Contact
  • Privacy Policy
  • Sitemap
Business Khabar
  • World
  • Latest News
  • Business
    • Automotive
    • Industries
    • Opinion
  • Market
  • Tech
  • Money
    • Finance
    • Insurance
    • Investments
    • Schemes
  • Startups
  • Other
    • Top Stories
    • Entrepreneur
    • Career
    • Real Estate
No Result
View All Result
Business Khabar
  • World
  • Latest News
  • Business
    • Automotive
    • Industries
    • Opinion
  • Market
  • Tech
  • Money
    • Finance
    • Insurance
    • Investments
    • Schemes
  • Startups
  • Other
    • Top Stories
    • Entrepreneur
    • Career
    • Real Estate
No Result
View All Result
Business Khabar
No Result
View All Result
Home Money Investments

RBI did not reduce repo rate, know where to get cheap home loan

Nisha Chawla by Nisha Chawla
February 5, 2021
in Investments
0
effect of rbi repo rate unchanged know here about cheapest home loan sbi kotak bank icici bank hdfc bank
584
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

You might also like

Don’t worry about taxation on PF, still better returns for investment

ICICI Bank makes home loan cheaper, lowest interest rate in 10 years; Chance by 31 March

Debt Index Funds: Looking for a safe return option, debt index funds can be ideal

At present, home loans are being available at a rate of less than 7 percent.

The central bank Reserve Bank of India (RBI) in its bi-monthly monetary meeting on Friday decided to keep the rates unchanged. According to the decision of the central bank, the repo rate will remain at 4 percent as before. Apart from this, the Reverse Repo Rate also remains at 3.35 per cent. These rates have a great impact on the common people because on the basis of this, the loan rates are determined. Talking about home loan, this time is very suitable for taking home because you are getting home loan at less than 7 percent. Talking about private and public banks in the country, home loans can be taken from Kotak Bank and SBI at the lowest rates up to 6.75 percent.

Also read- Banking Ombudsman, from gilt account to digital payment, important things of RBI Monetary Policy

Home loans from government banks

SBI: Talking about the country’s largest bank, State Bank of India, it is providing home loans at the rate of 6.8 percent, but will have to pay 5 bps (0.05 percent) less interest on applying through the YONO App. In this way, home loan can be taken from SBI at the rate of 6.75 percent.

where: Union Bank of India is providing home loans at the rate of 6.8 percent to 7.35 percent.

PNB: Talking about Punjab National Bank, this bank is providing home loans at the rate of 7.35 per cent to 9.60 per cent. If you have a credit score less than 700, interest can be paid at the rate of more than 9 percent.

Also read- Will this decision of RBI increase the returns on FDs? Know which bank is getting more interest now

Home loans from private banks

Bank Box: Kotak Bank is providing home loans at the cheapest rates in private banks. Kotak Bank is providing home loans at the rate of 6.75-8.45 per cent.

ICICI Bank: ICICI Bank is providing home loans ranging from 6.8 percent to 8.05 percent.

HDFC Bank: Talking about HDFC Bank, the country’s largest private bank, this bank is providing home loans from 6.8 percent to 8.2 percent.

EMI will be less in this bank

Suppose you want a home loan of 30 lakh rupees for a period of 20 years, then you will have to pay EMI bank-wise.

SBI

  • EMI of Rs 22,900 at 6.8%
  • Total interest – Rs 24,96,045
  • Several total amount paid – Rs 54,96,045

PNB

  • EMI of Rs 23,893 at 7.35%
  • Total interest – Rs 27,34,412
  • Total amount repaid – Rs 57,34,412

ICICI Bank

  • 22900.19 at the rate of 6.8 percent
  • Total interest – Rs 26,96,044
  • Total amount repaid – Rs 54,96,044

Bank Box

  • Rs 22,811 at the rate of 6.75 percent
  • Total interest – Rs 24,74,621
  • Total amount repaid – Rs 54,74,621

In this way we see that for taking a home loan of 30 lakh for 20 years at the rate of 6.75 percent in Kotak Bank, Rs 54.74 lakh has to be paid, which is the lowest among all these banks. SBI will have to pay Rs 54.96 lakh for taking a home loan for 20 years at the rate of 6.8 per cent, but if the loan is taken through the Yono app, the interest will be reduced by 0.05 per cent and the same loan will have to be paid for repaying Rs 54.74 lakh.

(This whole calculation has been done from the interest rate and calculator given on the bank’s website.)

Interest rates depend on many factors

Most people take loans from the bank to buy a house. At what rate the bank will provide home loan, it depends on many factors such as age of the applicant, gender, loan amount, duration. Apart from this, the rate of interest for the loan depends on the credit score. The lower the credit score, the higher is the interest rate, such that PNB gets a loan of more than 9 percent on a CIBIL score of less than 700. Apart from this, the loan rates also depend on LTV ratio (loan to property value ratio).

Decision to restore 4G mobile internet service in Jammu and Kashmir, shut down since section 370 was removed

Tags: best home loan bankcheapest home loancheapest home loan government bankcheapest home loan private bankhdfc home loanhome loanhome loan bank boxicici home loanKotak Bank Home Loanpnb home loanRBIrbi repo rateReserve Bank of Indiareverse repo rateSBI home loanubi home loan
Nisha Chawla

Nisha Chawla

Related Posts

PPF Vs VPF Vs Bank Fd best option to invest after neW pf rules for voluntary provident fund taxation
Investments

Don’t worry about taxation on PF, still better returns for investment

by Nisha Chawla
March 6, 2021
Home Loan, ICICI Bank, ICICI Bank home loan, ICICI Bank home loan interest rate, home loan rate 10 years low, SBI, kotak mahindra bank, HDFC, home loan rates, how to apply for home loan, apply home loan digitally, home loan documents
Investments

ICICI Bank makes home loan cheaper, lowest interest rate in 10 years; Chance by 31 March

by Nisha Chawla
March 5, 2021
Debt Index Funds
Investments

Debt Index Funds: Looking for a safe return option, debt index funds can be ideal

by Nisha Chawla
March 5, 2021
KNOW ABOUT Family Pension Procedure documents to be submitted when spouse does not have joint account with pensioner
Investments

Family Pension: There will be no delay in getting family pension, these documents will have to be submitted

by Nisha Chawla
March 5, 2021
SBI Vs HDFC Vs ICICI Bank Vs PNB Vs kotak mahindra bank cheapest home loan lowest EMI all details
Investments

SBI Vs HDFC Vs ICICI Bank: Where to get the cheapest home loan, how much EMI will be made on 30 lakh loan

by Nisha Chawla
March 5, 2021

Recommended

Indian Railway News platform ticket price hike on some stations not on all says rail ministry not new trend drm have powers

Indian Railway News: Due to congestion, platform ticket prices are increased, DRM takes a decision on this

March 6, 2021
PPF Vs VPF Vs Bank Fd best option to invest after neW pf rules for voluntary provident fund taxation

Don’t worry about taxation on PF, still better returns for investment

March 6, 2021
Gold Investment

Gold prices rise during April-August! Good investment opportunity at a discount of Rs. 12000

March 6, 2021

Don't miss it

  • All
  • Startups
  • Share Market
  • Entrepreneur
Indian Railway News platform ticket price hike on some stations not on all says rail ministry not new trend drm have powers
India

Indian Railway News: Due to congestion, platform ticket prices are increased, DRM takes a decision on this

March 6, 2021
PPF Vs VPF Vs Bank Fd best option to invest after neW pf rules for voluntary provident fund taxation
Investments

Don’t worry about taxation on PF, still better returns for investment

March 6, 2021
Gold Investment
Money

Gold prices rise during April-August! Good investment opportunity at a discount of Rs. 12000

March 6, 2021
Gold and Silver Price Today Gold and silver down check 10 gram gold price in delhi on 5 march best time to buy gold and silver
Money

Gold shopping opportunity! Gold became cheaper by Rs 1552 in 5 days, Silver also reduced by Rs 4115

March 5, 2021
NPCI partners with SBI Payments to launch RuPay SoftPoS solution merchants may convert nfc enabled smartphone into pos machine
Tech

Your Android phone will become a payment terminal! NPCI launches this special feature with SBI Payments

March 5, 2021
smart TV, Xiaomi smart TV, smart TVs market in India, Redmi brand smart TV, Redmi smart TV price, smart TV market, Dixon, rediant, Counterpoint Research, OTT content, Samsung, LG, Micromax, OnePlus, Infinix, Motorola
Tech

Price war will hit the smart TV market! Xiaomi’s Redmi brand is going to be entered

March 5, 2021
MTAR Technology IPO Updates
Share Market

MTAR IPO: 87 times subscribed IPO on last day, premium in gray market crosses 80%

March 5, 2021
red rice, what is red rice, red rice export to usa, Assamese food red rice, benefits of red rice, Bao-dhaan, LT Foods, APEDA, REPF, india's rice export, shipment of non-Basmati rice, non-Basmati rice export, commerce ministry
World

Red Rice: Now Americans will also eat ‘Red Rice’ of Assam, what is its specialty

March 5, 2021
Business Khabar

Business Khabar provides the latest news about market, financial, tech, sports and business news from around the world.

Learn more

Categories

  • Automotive
  • Business
  • Car & Bike
  • Career
  • Entrepreneur
  • Fashion
  • Featured
  • Finance
  • Food
  • Health
  • India
  • Industries
  • Insurance
  • Investments
  • Lifestyle
  • Money
  • Opinion
  • Real Estate
  • Schemes
  • Share Market
  • Startups
  • Tech
  • Top Stories
  • Travel
  • World

Important

JIOMART FASHION

BUSINESS PLAN

ATUM 1.0 BIKE

UPCOMING IPO

VEGETABLE BUSINESS

MARUTI UPCOMING CARS

BUSINESSMEN STORY

Nureca IPO

BUSINESS AFTER LOCKDOWN

IPL COACH SALARY

CSC REGISTRATION

Recent News

Indian Railway News platform ticket price hike on some stations not on all says rail ministry not new trend drm have powers

Indian Railway News: Due to congestion, platform ticket prices are increased, DRM takes a decision on this

March 6, 2021
PPF Vs VPF Vs Bank Fd best option to invest after neW pf rules for voluntary provident fund taxation

Don’t worry about taxation on PF, still better returns for investment

March 6, 2021
Gold Investment

Gold prices rise during April-August! Good investment opportunity at a discount of Rs. 12000

March 6, 2021

Copyright © 2020 Business Khabar

No Result
View All Result
  • Home
  • Larest News
  • World
  • Share Market
  • Business
    • Automotive
    • Industries
    • Startups
    • Entrepreneur
  • Tech
  • Money
    • Schemes
    • Investments
    • Finance
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Travel
  • Reviews
    • Car & Bike
  • Top Stories
  • Real Estate
  • Contact Us
  • About us

Copyright © 2020 Business Khabar

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.