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Tuesday, October 26, 2021

These 10 banks are offering cheap home loans in the festive season, know whose offer is the cheapest

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. Bank of Baroda, State Bank of India (SBI), Yes Bank, Punjab National Bank (PNB), Bank of Baroda (BOB), Kotak Mahindra Bank, HDFC Bank and LIC Housing Finance offer the cheapest home loans. are. Due to increased demand for homes and festive times, banks have reduced home loan rates. These rates are the lowest in the last 10 years.

1 Bank of Baroda reduced interest rates

Public sector bank, Bank of Baroda (BOB) has reduced the interest rate on its home loans by 0.25 per cent to 6.50 per cent from 6.75 per cent. The bank said that customers can take advantage of these new rates till December 31, 2021. These new rates will be available to all home loan borrowers. In the last few days, many government and private banks have reduced home loan rates. The bank said that zero processing fee is already offered on home loans but it will be applicable till December 31, 2021.

2 Canara Bank reduced interest

Earlier, the public sector Canara Bank had announced a cut in MCLR by up to 0.15 percent. The bank has reduced its one-year MCLR rate by 0.10 percent to 7.25 percent. The new rates of Canara Bank have come into effect from October 7. The bank has reduced the MCLR for one day and one month from 0.15 percent to 6.55 percent.

3 DCB deducted interest

DCB Bank has also cut the MCLR rate by 0.05 percent from 6 October.

4 Yes Bank reduced interest rate

Keeping in mind the festive season, Yes Bank has launched a special offer for home loan customers. Launched for a limited period, under this offer, the bank is offering home loans at just 6.7%. Recently, many other public and private banks also offered offers on home loans.

Bajaj Housing Finance slashes home loan interest rates, now it will be available at 6.7%

5 LIC Housing Finance cuts 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.

6 HDFC slashed home loan rates

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.

7 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.

Festive blast of YES Bank, home loan will be available for 35 years at 6.7% interest rate

8 Kotak Bank reduced the rate

Kotak Bank slashes home loan rate to 6.5% for 60 days, makes buying a home cheaper in festive season

9 SBI slashes 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.

10 Kotak Mahindra Bank cuts 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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Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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