Home loan at lower rate: If you are planning to take home loan at this time, then you should know about the interest rate and processing fees charged by the different banks. You can compare several banks’ offers on loans and can select lower-interest loans according to your requirements. In an attempt to give relief to the loan applicant, some banks offer loan at very lower interest rate to women. Various banks, non-banking financial institutions (NBFIs), and mortgage lenders are offering female applicants exclusive and competitive home loan interest rates.
Here are the details of interest rate on loans charged by PNB, UBI SBI, HDFC, Canara banks:
Home loan at lower rate: SBI
Women home loan customers receive a five basis point discount from State Bank of India. Female applicants’ interest rates range from 9.15 to 10.15 percent, depending on their credit score.
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Home loan at lower rate: HDFC
HDFC, like SBI, offers a 5 basis point discount on house loans to women. The interest rate for female borrowers ranges from 8.95% to 9.85%, depending on credit score and loan size.
The Canara Bank
A 5 basis point discount is available to female borrowers. Canara Bank’s home loan interest rates begin at 8.85%.
Union Bank of India
The Union Bank of India offers a 5 basis point discount to female borrowers.
Punjab National Bank
Punjab National Bank provides a variety of housing loan options for women. They provide discounts to salaried women, business owners, and housewives. Lower interest rate of 0.05% p.a. for female borrowers Furnishing costs may be included up to 10% of the housing loan up to a maximum of Rs.25 lakh, with a moratorium of up to 3 months from the date of advance or until the possession date, whichever comes first.
Additional advantages for female loan applicants
Women pay less in stamp duty.
Stamp duty is an additional cost when purchasing a home. Many states give 1% to 2% stamp duty reductions to encourage women to buy property.
