To make your dream for an own house true, there multiple options to take home loan. Various banks are offering home loans with different interest rates. People often avoid from taking a home loan because of high interest rates. But there are some popular banks, that provide home loans at lower interest rates. Which banks are providing home loans at lower interest rates? Let’s find out.
From these 10 banks you can get home loan at low interest rate:
1. Union Bank of India: Union Bank of India offers home loans at an interest rate starting at 7.3%. The monthly installment for a ₹50 lakh loan with a tenure of 20 years will be approximately ₹39,670.
2. Canara Bank: Canara Bank also offers home loans at 7.3% interest. This rate is considered the most attractive among public sector banks.
3. Bank of Baroda: Bank of Baroda home loans start at an interest rate of 7.45%. A 20-year EMI for a ₹50 lakh loan will cost approximately ₹40,127.
4. Punjab National Bank: PNB also offers home loans at an interest rate starting at 7.45%. This rate can prove to be an affordable option for home buyers.
5. State Bank of India: SBI is offering home loans at an interest rate of 7.5%. The EMI for a ₹50 lakh loan with a tenure of 20 years will be approximately ₹40,280.
6. HDFC Bank: HDFC Bank offers the cheapest home loan among private banks. At an interest rate of 7.4%, the EMI for a loan of ₹50 lakh is ₹39,974.
7. ICICI Bank: ICICI Bank’s interest rates start at 7.7%. The EMI for a ₹50 lakh loan with a 20-year tenure will be around ₹40,893.
8. Kotak Mahindra Bank: Kotak Mahindra Bank is offering home loans at 7.99% interest. The EMI for a loan of ₹50 lakh will be ₹41,791.
9. Axis Bank: Axis Bank offers home loans at an interest rate of 8.35%. At this rate, the EMI for a ₹50 lakh loan with a tenure of 20 years is ₹42,918.
10. Yes Bank: Yes Bank home loans start at 9% interest. For a ₹50 lakh loan with a 20-year tenure, the monthly EMI will be ₹44,986.