If you are also planning to buy a house during the festive season, then this is a good opportunity for you. During this period, apart from many banks, housing finance companies have reduced home loan rates. State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BOB), Kotak Mahindra Bank, HDFC Bank and LIC Housing Finance are offering the cheapest home loans. Banks have reduced home loan rates due to increased demand for homes and festive times. These rates are the lowest rates in the last 10 years.
LIC Housing Finance reduces home loan rates
LIC Housing Finance has given a special gift to the customers buying homes on festivals. The company has reduced the home loan rate to 6.66 per cent for home loans up to Rs 2 crore. Earlier in July, the company had reduced the rate of home loans up to Rs 50 lakh to 6.66 per cent. Now LIC Housing Finance has increased the loan amount from Rs 50 lakh to Rs 2 crore. LIC Housing Finance said that this rate will be available to all borrowers with a Sibis score of 700 or more to get a loan at this rate of 6.66 per cent. This loan will be applicable only on home loans taken from September 22 to November 30.
LIC Housing Finance makes home loan cheaper, now loan will be available at 6.66 percent
HDFC slashed home loan rate
The country’s leading housing finance company HDFC has announced a reduction in home loan rates in view of the festive season. Under which customers will be able to take home loan at an initial interest rate of 6.70 percent per annum. Let us inform that these interest rates given by the company came into effect from 20 September 2021. This special scheme will be available till 31 October 2021.
Punjab National Bank (PNB) reduced interest rates
Public sector leader Punjab National Bank (PNB) has reduced the interest rate on home loans above Rs 50 lakh by 0.50 per cent to 6.60 per cent. As part of several offers launched by Punjab National Bank during the festive season, PNB has slashed the interest rate by 50 basis points, or 0.50 per cent, on home loans above Rs 50 lakh. It said that PNB has announced that now the home loan of any amount will be available at an interest rate of 6.60 percent.
Bank of Baroda (BOB) has reduced the rate of home loan
Bank of Baroda (BoB) has announced a discount on its home and car loan rates. The bank has made this announcement keeping in mind the festive season. The bank said that it is offering a discount of 0.25 percent on the current interest rates of home and car loans. The bank is also offering discounts on the processing of home loans. Bank Of Baroda Home Loan Rates Now Starting At 6.75% And Car Loan Rates At 7.00%.
Kotak Bank slashes home loan rate to 6.5% for 60 days, makes buying a home cheaper in festive season
SBI reduced home loan interest rates
The country’s largest state-run bank State Bank of India (SBI) has started festive offers for home loan customers. SBI has reduced the interest rate on home loans. With this, SBI, starting its initiative, has offered to provide credit score linked home loan at the rate of only 6.70 percent. No matter what the loan amount is. Earlier, loans above Rs 75 lakh had to be repaid at the rate of 7.15 per cent. With the introduction of the festive offers, now loan borrowers can avail a home loan at a minimum rate of 6.70 per cent. Overall, if the loan of 75 lakhs is for 30 years, then there will be a savings of more than 8 lakhs.
Kotak Mahindra Bank reduced home loan interest rates
Private sector bank Kotak Mahindra Bank has given a gift to its customers in the festive season. The bank has announced to reduce the interest rates of home loans. Now the interest rates of home loans have been reduced by 15bps i.e. 0.15 percent from 6.65 percent to 6.50 percent. These new rates will be applicable from 10 September 2021 and will end on 8 November 2021.
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