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.

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