Interest Rate of Home Loans

Loans

Tired of looking for rent houses or lease houses? Then why don’t you gift yourself a home which will remain yours forever, no shifting again and again. Everyone desires for a house be it a kid, working people or old age people. An own house will always give you a secured feeling and is considered to be the biggest asset for the long term for you and your kids. Running out of budget to buy a house? Don’t worry, Home loans will not let you compromise with your dream of buying a house.

Here’s a list of Banks and the Home loan Interest rate charged by them

State Bank of India

Interest Rate starts from 8.20% p.a. – 11.60 p.a. SBI will let you enjoy your stay at your house without pressuring for quick re-payment of loan. It allows an extended loan tenure up to 30 years. SBI Home Loans provides a concession of 0.05% to women buyers which is quite attractive.

Axis Bank

Axis Bank house loan interest rates as well as the loan tenure period varies on the type of loan you choose. For fixed rate loans, the interest rate is 12% p.a. and the loan tenure period are up to 30 years. For floating rate loans, interest rate ranges from 8.40% p.a. – 11.75% p.a. and loan tenure period are up to 20 years.

ICICI Bank

ICICI Bank took active initiative in the Pradhan Mantri Yojana which promises to provide home to the urban poor by the year 2022. Home loan interest rate starts from 8.60% p.a. to 10.35% p.a. with a loan re-payment period of 30 years.

Canara Bank

Canara Bank interest rate of home loans ranges from 8.50% to 9.50% with the loan re-payment duration of up to 30 years. You can even claim 90% of the property value if you are buying a newly built flat or house and a loan up to Rs.15 Lakh for repairs and improvements.

IDBI Bank

IDBI Bank offers you a home loan amount of up to Rs. 10 crore and the home loan interest rate ranges from 8.30% p.a. to 9.30% p.a. facilitating easy re payment options and a loan re payment tenure of up to 30 years.

To conclude, this blog gives you information about some of the best banks across India providing home loans and the interest rate of home loans charged by them. Thank you for reading.

Leave a Reply

Your email address will not be published. Required fields are marked *