All top banks home loan interest rates information
Many people in this lockdown have realised that how much important is it to have a personal home. The rent system could be good enough for a short period, but for the long term, it will be good if a person owns his own home. In this lockdown, we can see the urge to own a home on the rise because of the continuous irritating behaviour of their landlords.
In several years, top banks home loan interest rates have fallen at such a level which anyone didn’t imagine in the past years. The interest rate in 2011 was 11.75% in almost all banks. By a constant decrease in the rates, it has now reached 6.95% in most of the well-known banks. These are the most attractive home loan interest rates.
The cheapest of all rates are provided by the Union Bank that is 6.7%. It is offering home loans at 6.7% interest rate to those women who are earning a salary and have a decent CIBIL score. Many well-known banks like HDFC, SBI, Axis Bank are all providing home loans at an interest rate of 6.9%.
As many banks are facing a shortage of customers so to attract more customers banks are also providing special discount offers like SBI is waiving off processing fee if the loan is applied from YONO app.
While taking a home loan you should always consider the top banks home loan interest rates, what are the processing fees, different pre-payment and closure charges. You should always go through all the terms and conditions of the bank as it will save you from all the unwanted surprises. You should also consider your CA for all the tax-saving schemes before taking a home loan.
The banks always consider your CIBIL score before giving you a loan, so always maintain a good CIBIL score. They will provide low-interest rates to people who have a high and stable income. While taking a loan you will be provided with two types of interest rates called fixed and floating. You should always opt for floating as it is the lowest rate among the ones provided by top banks home loan interest rates.