This festive season wants to take a dream home, these banks are offering cheap home loans

Home Loan Offers by Different Banks: With the onset of the festive season, banks are competing to reduce home loan interest rates. This includes all government and private banks. In this, Home Loan Finance Companies are also not behind. But, still many customers prefer to take loans from banks only. The country’s largest public sector banks are State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BOB), ICICI Bank, Kotak Mahindra Bank and Yes Bank. Like big banks have come up with many attractive offers for the customers.

SBI Home Loan
Let us tell you that State Bank of India (SBI) has announced a credit score linked home loan for the first time, whose rate of interest has been kept at 6.70%. No matter how much you want people to take, you will have to pay interest only 6.70%. Let us tell you that earlier you had to pay 7.15% rate of interest for taking more than 75 lakh loan in State Bank, which has now come down to 6.70%.

PNB Home Loan
Let us tell you that Punjab National Bank (PNB), the second largest government bank, has also given many attractive offers to woo the customers. The bank has cut interest rates by 50 basis points i.e. half percent for taking loans above 50 lakhs. Along with this, the new interest rates will also be applicable in the case of balance transfer.

BOB Home Loan
Let us tell you that Bank of Baroda is giving loan at 8.10% rate of interest. You can use this loan to buy a house as well as to repair it. At the same time, the bank has kept the minimum processing fee from 0.50% – 0.25% of the loan amount. If you take a loan of 40 lakhs for 30 years from this cancer, then you will have to pay an EMI of Rs 29,630. On the other hand, Rs 44,445 will have to be paid for a loan of 60 lakhs.

On the other hand, private bank Kotak Mahindra Bank has reduced the rate of interest of its home loan by 0.15 percent to 6.50% now. At the same time, Yes Bank is giving home loan to its customers at 6.45% rate of interest. On the other hand, ICICI Bank has reduced the rate of interest for home loans up to Rs 75 lakh to 6.70%. If you take a home loan of more than Rs 75 lakh, the rate of interest is 6.75 percent. According to the bank, this is the lowest rate of interest in 10 years.

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who hails from Uttarakhand. Shivam is a professional full time Digital Marketing and PR expert with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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