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    Home » These banks are planning to buy a home loan, so the interest rates of these banks
    Finance

    These banks are planning to buy a home loan, so the interest rates of these banks

    Nisha ChawlaBy Nisha ChawlaSeptember 21, 2020No Comments
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    Want a cheap home loan, car loan or gold loan on Diwali? Bank of Maharashtra reduced interest rates
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    • Home loan interest rates of all government and private banks in the country have come down below 8%
    • Installment of Rs 22,722 on a home loan up to Rs 30 lakh for 20 years every month
    Best home loan rates from governments and private banks

    Of all the loans, home loan is perhaps the one which is the largest. Not only in terms of loan amount, but also tenure, which can be 15 years or more. The total loan repayment can be double the amount borrowed. But a home loan is one of the cheapest loans, and it is the only way a person can buy a home. At present, it cannot be ignored that construction of many housing projects in India has been delayed or stalled for many years. In such a situation, financial advisors say that at present, home buyers should look for a ready-to-move home. In such a situation, we are going to tell you today that if you take a home loan of 30 lakh rupees for 20 years, how much EMI will you have to pay according to the interest rates of the country’s banks.

    RBI has consistently dropped policy rates
    The Reserve Bank of India has consistently slashed policy rates. The last time the RBI saw a decline in repo rates by more than 40 points. In this falling interest rate regime, almost all major banks including State Bank of India and HDFC Bank have cut their home loan rates quite well. Some banks have cut this to 7 percent. Experts also say that before choosing the option of home loan, not only consider the low interest rate as the basis, but also check the bank creditability. Check your credit score as well. However, the option of lowest interest rates is available to those who have the best credit score. Some banks consider 700 which are some 750 to 800 credit score as benchmark.

    In which bank, how much interest rate and how much EMI will be made

    Bank Home loan interest rate (in percent) Processing Fee (Excluding Tax) EMI (In Rupees)
    UBI 6.70-7.15 0.50 percent (15 thousand maximum) + tax 22,722-23,530
    BOI 6.85-8.35 0.25 per cent (minimum 1500 and maximum 20000) 22,990-25,751
    Central Bank of India 6.85-9.05 0.50 percent (20 thousand maximum) 22,990-27,088
    Punjab and Sindh Bank 6.90-7.25 Festive season discounts 23,079-23,711
    Canara Bank 6.90-9.40 0.50 percent (minimum 1500 and maximum 10,000) 23,079-27,768
    HDFC bank 6.95-7.85 Salaried and self-employed up to 0.50 per cent or Rs 3,000 maximum 23,169-24,814
    ICICI Bank 6.95-8.05 1-2% or Rs 1,500 (Rs 2,000 Mumbai, Delhi and Bangalore) 23,169-25,187
    Nainital Bank 7.00-7.25 0.50% (Minimum Rs 500, Maximum Rs 10,000) + Service Tax 23,259-23,711
    SB I 7-7.85 0.50 per cent + GST 23,259-24,814
    BoB 7-8.85 0.50 percent (minimum Rs 8,500, maximum Rs 25,000) 23,259-26,703
    Indian Bank 7-9 As applicable 23,259-26,992
    IOB 7.05-7.30 0.50 percent for up to 75 lakhs (maximum 20,000) 23,349-23,802
    Bank of Maharashtra 7.05-8.45 0.25% (Maximum Rs. 25000) 23,349-25,940
    PNB 7.10-7.90 Discount from 7 September to 31 December 2020 23,439-24,907
    Jammu & Kashmir Bank 7.20-7.60 0.25 Percent + GST ​​(minimum Rs 5,000, maximum Rs 25,000) 23,620-24,352

     

    Source: www.patrika.com

    #banks #planning #buy #home #loan #interest #rates #banks

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    Nisha Chawla
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    She is an expert in Banking, Finance and working with an international bank. She sharing her ideas and knowledge with Business Khabar.

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