There will be no one who does not want a home of their own. But the lack of financial status to build a house often destroys the dream of a home. But with good credit, you might find exactly what you need. Home loans are only available with collateral. Let’s take a look at the different banks that offer home loans at such very low interest rates.
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Not only new home loan borrowers but also previous home loan borrowers can shift their loan to a lower interest rate bank. For this you can go directly to the bank where you currently have a loan or shift the loan with the help of a financial advisor. First, accurately calculate the difference in interest rates on old and new home loans. Even a small change in the interest rate can save a considerable amount of money on the loan.
As soon as you approach the bank for a home loan, the bank will decide how much to give you as a home loan based on your credit score, the value of the mortgaged property, the term and amount of the loan you are applying for.
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If you are taking a home loan from HDFC Bank, you have to pay an interest rate of 6.90-9.25.
You have to pay 0.50% of the loan as processing fee. Otherwise you will have to pay Rs.3000 for any one of these. If you take Rs 30 lakh for 20 years, you will have to pay a monthly EMI of Rs 23000-27000.
SBI is another bank that offers home loans at very low rates. Here the interest rate is 7-7.85%. The processing fee is half a per cent but if you apply for a home loan through Uno, you will get the festival offers. Rs 30 lakh for 20 years and between Rs 23000-24000 a month.
If you are taking a home loan from Indian Overseas Bank, the interest rate is 7.05-7.30. You have to pay Rs. The processing fee is half a percent of the loan you take out. A processing fee of up to a maximum of Rs 25,000 will be charged.
If you are applying for a home loan through Bank of Maharashtra, the interest rate is 7.05-9.70%. For Rs 30 lakh, the EMI for 20 years is between Rs 23000 – 28000.
Punjab National Bank charges 7.10-7.90 for home loans. 30 lakh for 20 years with a monthly EMI of Rs. 23000-25000.
The interest rate charged by IDBI Bank for home loan is 7.15-9.15. If you take Rs 30 lakh for 20 years, you will have to pay EMI at the rate of Rs 23000-27000. The processing fee is between Rs 2500 and Rs 10000.
Canara Bank offers home loans at a rate of 6.90-9.40. Rs 30 lakh as EMI for 20 years is between Rs 23000 – 27000.
The processing fee is between Rs 1500 and Rs 15,000.
The interest rate charged by ICICI Bank for home loan is 6.90-8.05. Rs 30 lakh is to be paid as EMI over a period of 20 years at the rate of Rs 23000-25000. Here the processing fee is Rs. 1500 / -. Such processing will charge a maximum of one percent to two percent of the amount you take.
Indian Bank charges a home loan of 6.85-9.5.
30 lakhs to be paid over a period of 20 years at the rate of 22000-27000. A processing fee of Rs.20 -.60 will be charged for the amount you charge.
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Bank of Baroda charges for home loan
6.85-8.70. 30 lakhs as EMI for a period of 20 years at the rate of Rs. 23000-26000. The processing fee ranges from a minimum of Rs 8,500 to a maximum of Rs 25,000.
Union Bank charges a home loan of 6.85-8.40. An EMI of Rs 30 lakh for a period of 20 years is between Rs 22000 – 25000. The maximum processing fee is Rs 15,000.
Bank of India charges an interest rate of 6.85-8.25 for a home loan. EMI for 30 lakhs over a period of 20 years is between Rs. 22000 – 25000. The minimum processing fee is Rs 1500 to Rs 50000.
Punjab Sind Bank charges a home loan of 6.90-7.60. Rs 30 lakh as EMI for a period of 20 years is between Rs 23000-24000. The processing fee is waived during the festival season.
Those who want to take a home loan and those who want to change an existing home loan can choose the bank by looking at the interest rates. Watch the video to know more.