These banks offer the best interest rates for home loans
Interest rates on home loans took a hit after the Reserve Bank of India (RBI) raised the repo rate by 40 basis points earlier this month. Some banks, such as ICICI Bank and Bank of Baroda, have raised interest rates on home loans. Other banks also updated their interest rates. Those applying for home loans can do their research to get the best deal.
Here is an overview of the main banks offering the best interest rates for home loans:
State Bank of India offers attractive interest rates with a comfortable repayment period. Women borrowers get 0.05% interest reduction on SBI home loans. No hidden fees and full waiver of prepayment charges make SBI Home Loans one of the most preferred in the country.
Bank of Baroda also offers attractive interest rates on home loans with the same comfortable repayment period as SBI. Borrowers can obtain a maximum loan amount of Rs 5 crore with the Bank of Baroda housing loan.
Citibank offers home loans of up to Rs 10 crore at low interest rates. The bank also offers borrowers the option of extending the term to facilitate repayment for up to 25 years. Borrowers can secure up to 80% of the total cost of ownership with Citibank’s home finance programs.
4. HDFC Bank
HDFC Ltd offers affordable home loans to eligible borrowers with attractive interest rates and a comfortable repayment period.
Kotak Bank offers the Digi Home Loan at an attractive interest rate for salaried and self-employed applicants. The bank offers a special interest rate as part of its special balance transfer offer. With Digi Home Loan from Kotak Mahindra Bank, borrowers can get 90% of the value of the property in case of home loan balance transfer. The bank also offers housing loans under the PMAY program and grants concessions to female borrowers.
(Edited by : Shoma Bhattacharjee)