Alert homebuyers: If you are looking for home loans, you should look into a list of banks that offer low-interest home loans. Bank of Baroda recently announced interest rate reductions on home loans. Several public sector banks have reduced home loan interest rates. Bank of Baroda reduced the interest rate on home loans by 25 basis points (bps) for certain borrowers. The BOB announced that it will offer home loans at an annual interest rate of 8.25 percent. Check out the interest rates on home loans offered by other top Indian banks here, in addition to the Bank of Baroda. Alert homebuyers, here are list of banks rates on home loans:
The State Bank of India recently announced that it now offers home loans with an annual interest rate of 8.55 percent and processing fees of 0.35 percent and up.
The HDFC Bank offers home loans starting at 8.60% p.a., with processing fees of 0.5% or Rs 3,000, whichever is greater.
Kotak Mahindra Bank announced that it will offer 7.50% p.a. and higher interest rates on home loans, with processing fees of 0.50%.
The Union Bank of India also provides home loans with interest rates starting at 8.25% p.a.
Aside from these banks, the Central Bank of India stated that it offers interest rates ranging from 7.20% to 7.65% per annum with processing fees of Rs 20,000.
The Bank of India provides home loans with interest rates starting at 7.30% per annum.
The Axis Bank home loan interest rate is 7.60% p.a. and above, with processing fees of Rs. 10,000.
Citi Bank announced that it will offer 6.65% p.a. interest rates on home loans with processing fees of Rs 10,000.
Note: SBI has increased its marginal cost of lending rate (MCLR) on select tenors by up to 25 basis points. Borrowers’ EMIs will rise further as a result of the latest MCLR increase. The new interest rates will go into effect on December 15, 2022.