The Lowest Interest Rates on Home Loan

                                 The Lowest Interest Rates on Home Loan

 The Lowest Interest Rates on Home Loan-15 Banks offers the lowest interest rate for a home loan under Rs30 Lakh

The Lowest Interest Rates on Home Loan


Introduction

If you are planning to take a home loan under Rs30 lakh, in the near future,

Have necessary margin funds, a credit score over 750,

Adequate repayment capacity,

This is indeed a great time to realise your home-buying dreams.

Repo Rate

Banks have reduced their floating rate on home loan interest rate following the RBI decision to slash the repo rate from 6.50% to 4.00% in May 2020.

Most banks have benchmarked their home loans to RBI’s repo rate after the central bank directed all the banks to link their home loans to an external benchmark in October 2019 to enable quick transfer of any rate-cut benefits to the borrowers.

So loans become cheaper in a competitive lending environment.

List

There are currently at least 15 banks that are offering home loans starting at under 7% p.a.

 


15 banks offering the lowest interest rates on floating rate home loans under Rs.30 lakh

Disclaimer: Data taken from respective websites on July 16, 2021. Data compiled by BankBazaar.com, an online marketplace for loans, credit cards and more.

Note: The interest rate applicable to you would be determined depending on your age, income, gender, credit score, loan amount, loan to value ratio, or any terms & conditions of your chosen lender.

In this blog we learnt about "The Lowest Interest Rates on Home Loan"

Comments

Post a Comment

Popular posts from this blog

KOTAK GLOBAL INNOVATION FUND OF FUND

Image
  KOTAK GLOBAL INNOVATION FUND OF FUND  KOTAK GLOBAL INNOVATION FUND OF FUND-In this blog we will discuss about  KOTAK GLOBAL INNOVATION FUND   KOTAK GLOBAL INNOVATION FUND OF FUND Invest in global innovators like Amazon, Google, Facebook, Walt Disney, Netflix About Global Innovation Fund of Fund Kotak Mahindra AMC Ltd has launched a new fund offer for kotak Global Innovation Fund. The fund is open for subscription between July 8 and July 22, 2021 Investment Objective Product is suitable for investors who are looking for: Long-term capital growth Investment in units of Wellington Global Innovation Fund or any other similar overseas mutual fund scheme/ ETFs Top holdings in the portfolio of the underlying fund Kotak Global Innovation Fund will invest in units of Wellington Global Innovation Fund or any other similar fund schemes. The companies mention here are forming part of its portfolio. Fund performance with benchmark The fund has consistently outperformed the benchma
Read more

Rebalancing Your Portfolio

Image
    Rebalance Your Portfolio Regular maintenance for your investments     Rebalancing   Rebalancing means your portfolio matches your risk tolerance and returns It is part of long-term passive investment strategy.   Why Rebalancing? If you are long term investor, you need to rebalance your portfolio on a periodic basis. Balancing portfolio means maintaining your desired level of risk over time. Balancing ensures that you have a mix of stocks and bonds according to your risk tolerance and investment goals.   When to Rebalance Your Portfolio? When there is a change in asset prices to maintain asset allocation at desired levels. To ensure preservation of wealth when you are close to your investment goals. When markets are overvalued or undervalued. Rebalancing due to market correction. Disclaimer: Investors should consult their financial advisers if in doubt about whether the product is suitable for them In this blog we discussed about " Reba
Read more

e-Rupi digital payment system

Image
            e-Rupi Digital Payment System to Be Launched Today Cashless and a contactless instrument for digital payment Launch   Prime Minister Narendra Modi will launch e-Rupi a digital payment solution that is person and purpose-specific.   What is e-Rupi? 1.      It is a cashless and contactless  instrument for digital payment 2.      It is developed by National Payments Corporation of India 3.      It ensures timely payment without involvement of intermediary 4.      It connects sponsors of the services with beneficiaries & service provider in a digital manner with physical interface   Working It is a QR code or SMS string-based e-voucher that is delivered to the mobile of the beneficiaries. The users of this one-time payment mechanism will be able to redeem the voucher without a card, digital payment app, or internet banking access, at the service provider.   Purpose 1.      To ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner. 2.  
Read more