State Bank of India (SBI), the country’s largest bank, has rained offers on home loans in view of festivals. You can also take advantage of cheap home loans from SBI. If for some reason you do not get home loan from SBI or at the rate of your choice, then you have other options.
If you are planning to take home this Diwali then it can be a great opportunity. Because since October 1, the interest rates of banks have shifted to the external benchmark, making it much cheaper to take a loan. Apart from SBI, many banks are offering very cheap loans to customers.
We are going to tell you about 10 banks that are offering home loans at the lowest interest. The rates of some banks have come down to less than 7 per cent, which can prove to be a great opportunity for those taking home loans.
These 10 banks are offering cheap home loans
1. Union Bank of India
Government Bank Union Bank of India is included in the list of home loan lenders at the lowest interest rate. This bank is offering home loan at 6.70%, which goes up to 7.15% maximum. If you take a loan from here, then you have to pay 0.50 percent processing fee on the total loan. However, the processing fee here cannot be more than Rs 15,000. You will get more information about offers on their website https://www.unionbankofindia.co.in/english/home-loan.aspx .
2. Bank of India
Bank of India is giving loans to customers at 6.85%. This bank charges 0.25% processing on the total loan amount. Which ranges from Rs 1,500 to maximum Rs 20,000. The maximum interest of this bank is 7.15%. You will find more information at https://www.bankofindia.co.in/homeloan .
3. Central bank of India
Central Bank of India is also offering you a home loan at the rate of 6.85%. As a processing fee, you will have to pay 0.50 percent of the total loan amount, the maximum limit of which is fixed at Rs 20,000. You will get a home loan here at a maximum of 7.30%. More information on this will be found at https://www.centralbankofindia.co.in/English/cent_home_loan.aspx .
4. Canara bank
Canara Bank is offering home loans at the rate of 6.90%. A processing fee of 0.50 percent will be levied on the total amount, which can be up to a maximum of Rs 10,000. The maximum interest rate of Canara Bank is 8.90%. For more information, you can visit the bank’s website https://www.canarabank.com/User_page.aspx?menulevel=1&menuid=3&CatID=21 .
5. Punjab & Sind Bank
Punjab and Sindh Bank is also offering you a home loan at the rate of 6.90 percent, which goes up to a maximum of 7.25 percent. The best thing is that this bank is not charging processing fees and inspection charges. That is, at least 10-15 thousand rupees can be saved easily. You will get more information on the bank’s website https://www.psbindia.com/content/housing .
6. HDFC Bank
HDFC Bank, the country’s largest private sector bank HDFC is also offering home loans at the rate of 6.90 percent. Talking about processing fees, the bank charges this fee at the rate of 0.5 percent of the loan amount. However, this amount will not exceed Rs 3,000.
7. ICICI Bank
ICICI Bank is offering home loan at 6.95%, which is maximum 7.95%. The bank charges a processing fee of 0.50% on the total loan amount. More information can be found on the bank’s website https://www.icicibank.com/html/en/Personal-Banking/loans/home-loan/index.html .
8. Kotak Mahindra Bank
Kotak Mahindra Bank is offering home loans to customers at the rate of 7%. Kotak Mahindra Bank says that customers who transfer their loan to Kotak will get benefit of up to Rs 20 lakh. The bank is also offering additional discounts for women. You can get more details by visiting the bank’s website https://www.kotak.com/en/personal-banking/loans/home-loan.html .
9. Axis Bank
Private sector bank Axis bank is also offering home loans at 6.90% in view of festivals. The bank has also offered many discounts and offers on car loans, gold loans, personal loans. You can find more information at https://www.axisbank.com/retail/loans/home-loan/axis-bank-home-loan/features-benefits
10. Bank of Baroda
Bank of Baroda is offering huge discounts on home loan transfer. The bank is offering a discount of 0.25% on the existing home loan interest rates. Along with this, the bank has also announced to waive processing fees. You can get more information from the bank’s website https://www.bankofbaroda.in/baroda-home-loan.htm .