Interest rates taking down the road in the festive season

It has a favorable interest rate loan and a discount on the home loan over the Christmas season, bringing prices down to 15 years.

As Moneycontrol points out earlier, whether you want to buy a new home or transfer money from another lender, this is the right time to make that decision. Also, transparency guaranteed by a foreign bank-linked loan is another encouraging parameter.

Last week, Kotak Mahindra Bank raised the game further, lowering its interest rate to 6.75 percent. To date, public sector banks have sought top positions in the ‘cheapest loans’ in all categories. However, they continue to control the list. The Union Bank of India is second only to interest rates starting at 6.8 percent. Some banks and real estate finance companies are not far off. Bank of Baroda (BoB), Bank of India (BoI), and Central Bank of India’s home lending rates start at 6.85%. Interest rates from all ten lenders on the list are less than 7 percent, as data from

SBI has announced the issuance of an interest rate of 25 basis points for loans above Rs 75 lakh. The world’s largest lender – HDFC – also charges 6.9 percent interest on its mortgage loans, as is the case with ICICI and LIC Housing Finance.

While home loan interest rates are extremely attractive, you may have to pay higher rates depending on your credit score, loan amount, and occupation. For example, SBI unpaid borrowers have to pay 15 bps more compared to their paid counterparts. Similarly, Bank of India Personal Loan lenders with more than 760 loans receive 15-20 bps interest on interest rate loans.

It is also a good idea to ask your banker if part of the credit risk – which can change if there is a significant change in your credit rating, thereby affecting your interest rate – will be addressed. A bank that clearly outlines how the credit risk will be assessed by the life of the loan is your best bet.

In today’s time where so many lenders have come up with their exciting deals with the offering of Personal Loans, it has become difficult for the borrowers to decide and select one single lender that suits their needs and situations the best.

We at Dialabank with a team of experts in the financial advisory are here to guide you through the various financial products available in the market.

Call us today to get your queries resolved- 9878981166



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