Home Loan ? These Banks are offering cheapest home loan , See here


If you are thinking of taking a home loan then State Bank of India can be a better option. SBI has cut home loan interest rates by giving great relief to its customers. According to the information given on the website of the State Bank of India, the State of India has reduced the interest rate on home loans up to 30 lakhs from 6.90% to 6.70%. At the same time, interest on home loans ranging from 30 lakh to 75 lakh will be 6.90 percent and homes above 75 lakh will attract interest rate of 7.05. Women customers will get 0.05 percent additional benefit from the bank.

According to SBI calculator, the EMI of Rs 26,881 as per the earlier interest rate of 6.95 per cent on a home loan of up to 15 lakhs for 15 years, but now it will fall after the cut in interest rates. According to the announcement made on Saturday, if you now take a home loan of Rs 30 lakh for 15 years, your EMI will come to Rs 25,464. If we calculate this amount according to 15 years (15 × 12 × 417), then there will be a saving of Rs 75,060. If a female customer buys a 15-year home loan at the rate of 6.65 percent for a 15-year home loan, she will have to pay a monthly EMI of Rs 26,381. And they will save 90,000 in 15 years.

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Before home loan , the interest rates of all banks should be compared and compared to you. This reduces the chance of loss. Many times, we take home loan in haste without making a balance due to which there may be a loss. Let’s see the list of banks offering the cheapest home loan –

Bank                                               interest rate
SBI                                                     6.70%
Bank of Baroda                           6.75%
Punjab National Bank              6.80%
Union Bank                                   6.80%
Bank of India                               6.95%
Indian Bank                                  7.00%
Kotak Mahindra Bank             6.65%
Citibank                                         6.65%
ICICI Bank                                    6.70%
HDFC Bank                                 6.70%
Axis Bank                                     6.90%
Tata Capital                               6.90%


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