What are the current home loan rates in India?



What are the current home loan rates in India?

The reduction in the interest rate has seen the home loan rates start at 6.50%.PNB Housing Finance,Bank of India and Central Bank are now offering home loans at low interest rates. These home loans start at 6.75% p.a. and LIC Housing Finance offers home loans which start at 6.90% p.a.

Which bank offers the lowest home loan interest rate?

The home loan interest rate is available on loan amounts of up to 50 lakh (salaried individuals) and for a tenure of 30 years. However, Kotak Mahindra Bank and Punjab and Sind Bank offer the lowest home loan interest rates at 6.65%.

What is a home loan interest rate?

The percentage of the principal amount that banks charge from the borrower for using the principal amount known as the interest rate. The interest rate charged by banks and non-financial institutions determine the cost of your home loan. 2. How do Banks Calculate Home Loan Interest Rate?

What types of home loans do the Big Four banks offer?

Again, not exclusive to the Big Four, but these banks frequently offer these two types of products. Basic home loans have low variable rates (usually) but don’t have offset accounts. Introductory rate loans offer a very low (usually variable) rate for an initial period, but increase later.