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The home loan interest rates currently offered by banks in India

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The home loan interest rates currently offered by banks in India

Thinking of applying for a home loan anytime soon? You should definitely compare the prevailing interest rates in the market prior to applying. It is very important to compare and check interest rates being offered by several banks and NBFCs before applying. Since this is a long-term financial commitment, you will naturally want your monthly EMIs to be as low as possible. This is where a good interest rate will benefit you immensely.

A home loan is a secured loan and helps you build an asset for the future. When it comes to the home loan interest rates on offer currently, here’s what you should check out:

  • Axis Bank- 8.5-8.7% is the interest rate and processing fees are up to 1% of the loan amount, subject to a maximum amount of Rs. 10, 000.
  • DCB Bank- The interest rates hover between 8.5-16% depending on various factors with processing fees up to 2% of loan amount subject to a minimum amount of Rs. 5, 000.
  • Corporation Bank- Expect interest rates between 8.5-9.2% here along with processing fees between 0.50-1% of the loan amount. The minimum and maximum thresholds in these cases is Rs. 1, 000 and Rs. 50, 000 respectively.
  • Bank of Baroda- The rates of interest are between 8.55-9.55% at Bank of Baroda with zero processing fees subject to the payment of roughly Rs. 7, 500 in other expenses.
  • UCO Bank- The rates of interest are between 8.55-8.8% with processing fees being 0.5% of the loan amount. The minimum and maximum amounts in this case are Rs. 1, 000 and Rs. 15, 000 respectively.
  • Karnataka Bank- Home loan interest rates are between 8.6-9% at Karnataka Bank.
  • Dena Bank- Interest rates are between 8.6-8.75% here with processing fees being 0.50% of the loan amount.
  • Citibank- The rates of interest are between 8.6-10.5%. The application fee is up to Rs. 5, 000 and the booking fee is 0.40% of the sanctioned amount for the loan.
  • Central Bank of India- The rates of interest are between 8.6-9.6% with the processing fee being 0.50% of the loan amount subject to a maximum amount of Rs. 20, 000.
  • Union Bank of India- The interest rates offered are between 8.65-8.7% with processing fees of 0.50% of the loan amount subject to a maximum of Rs. 15, 000 and GST.
  • Karur Vysya Bank- The interest rates range between 8.65-9% with processing fees ranging between Rs. 2, 500-7, 500 and GST.
  • Oriental Bank of Commerce (OBC) – The interest rates are between 8.65-8.75%.
  • State Bank of India- The interest rates are between 8.65-9.75% with processing fees of 0.35% of the loan amount. The minimum and maximum thresholds in this case are Rs. 2, 000 and Rs. 10, 000 respectively.
  • Allahabad Bank- The interest rates are between 8.65-9.1% for home loans.
  • Punjab National Bank- 8.65-9.85% is the usual interest rate at PNB with processing fees being 0.50% of the loan amount subject to a maximum amount of Rs. 20, 000 for loans up to Rs. 3 crore.

 

 

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