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Home loan details: Which banks offer cheaper loan; know and compare interest rate on home loan here

Home loan details: The Reserve Bank of India (RBI) has recently increased the Repo Rate by 25 basis points. This hike prompts many banks to raise interest rates on personal, car, and home loans. As a result, banks such as Bank of Baroda, PNB, and SBI increased their interest rates on loans. If you are […]

Edited By : Divya Richa | Updated: Feb 17, 2023 13:25 IST
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Home loan details:
Home loan details: Which banks offer cheaper loan; know and compare interest rate on home loan here

Home loan details: The Reserve Bank of India (RBI) has recently increased the Repo Rate by 25 basis points. This hike prompts many banks to raise interest rates on personal, car, and home loans. As a result, banks such as Bank of Baroda, PNB, and SBI increased their interest rates on loans.

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.

Here are the details of interest rate on loans charged by PNB, SBI, HDFC, BOB banks:

PNB home loan interest rate details:

If the CIBIL score is 800, Punjab National Bank’s Max Saver offers home loans at 8.80 percent interest on amounts up to Rs 30 lakh. The interest rate is 9 per cent for a CIBIL score of 700-749 and 9.35 percent for a score of 600-699.

SBI home loan interest rate details:

The State Bank of India (SBI) has raised the MCLR and the Repo Rate Linked Lending Rate by 0.10 percent and 0.25 percent, respectively. SBI, on the other hand, is offering loans at lower interest rates as part of a scheme. The loan will be available at 8.85 percent if the CIBIL score is 800, 8.95 percent if the CIBIL score is 700-749, and 9.65 percent if the CIBIL score is 550-649.

Home loan details: HDFC Bank home loan interest rate details:

A day before the RBI raised the repo rate, HDFC Bank raised its loan interest rates. If a person takes out a loan of up to Rs 30 lakh, the interest rate will range between 9% and 9.50%. The interest rate for women ranges from 8.95 percent to 9.45 percent. The interest rate ranges from 9.25 percent to 9.75 percent for amounts greater than 30 lakhs and up to 75 lakhs, and it ranges from 9.20 percent to 9.70 percent for women.

Bank of Baroda home loan interest rate details:

Bank of Baroda recently raised its MCLR rate as well. Its home loan interest rates begin at 8.90 percent and can reach 10.50 percent. Non-salaried individuals, on the other hand, face interest rates ranging from 8.95 percent to 10.60 percent.

First published on: Feb 17, 2023 01:25 PM IST
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