Home Loan: If you are thinking of buying a house, then this could be the right time. According to Bankbazaar.com, the interest rates on a 20-year home loan of ₹50 lakh are currently between 7.3% and 9%. Let us know which bank is offering how cheap a loan.
Bank of Baroda
Bank of Baroda home loan starts at 7.45% interest rate. EMI on a 20-year loan of ₹50 lakh will be ₹40,127, which is attractive for customers.
Canara Bank
Canara Bank is offering the lowest home loan interest rate among the public sector banks. The interest rate starts from 7.3% and the EMI for a 20-year loan of ₹50 lakh works out to be around ₹39,670.
Kotak Mahindra Bank
Kotak Mahindra Bank home loans start at 7.99% interest rate. The EMI for a 20-year loan of ₹50 lakh will be ₹41,791.
SBI
is offering home loans at an interest rate of 7.5%. Here, the EMI for a loan of ₹50 lakh for 20 years is ₹40,280, which is a reliable option.
Axis Bank
Axis Bank is offering home loans at an interest rate of 8.35%. The EMI on a 20-year loan of ₹50 lakh in private sector Axis Bank will be ₹42,918.
Punjab National Bank
Punjab National Bank is also offering loans at an initial rate of 7.5%. For a loan of ₹50 lakh for 20 years, the EMI will be ₹40,280.
ICICI Bank
ICICI Bank offers home loans at an interest rate of 7.7%. For a loan of ₹50 lakh, 20 years, the EMI will be ₹40,893, which is a popular option in the private sector.
Union Bank of India
Union Bank of India is also offering home loans at an interest rate of 7.3%. The EMI on a 20-year loan of ₹50 lakh comes to around ₹39,670, which is the most affordable option in the public sector.
HDFC Bank
HDFC Bank’s interest rate starts at 7.9%. The EMI on a 20-year loan of ₹50 lakh from the largest private sector bank will be ₹41,511.