Revised Home Loan Interest Rate For The Year 2021

Buying your dream house has become more convenient as home loans come to the rescue. With the ongoing pandemic, many plans have been put on hold, and buying a house after a period of recession can be conflicting. Even though buying a house is often an exciting experience, finding the right home loan with the right home loan interest rate might seem like a task to you. 

 

Needless to say, choosing a home loan with the best interest rates can be just as important, and if you are planning to buy a house in the year 2021, here is a complete comparison of the top ten banks in India to help you find the best home loan interest rate just so that buying your dream house becomes a little more exciting and an easy-going smooth process.

 

State Bank of India (SBI)

The State Bank of India is allowing individuals to avail a floating interest rate of 6.8 percent to 6.95 percent with rupees 763-772 as (per lac EMI) and a processing fee of 0.40 percent applicable on the total amount of loan taken along with additional GST charges subject to a minimum of rupees ten thousand and a maximum of rupees thirty thousand GST.

 

Axis Bank

The Axis Bank is offering a floating interest rate of 6.9 percent to 8.55 percent with rupees 769-871 as (per lac EMI) and a processing fee up to 1 percent applicable on the total amount of loan taken, subject to a minimum of rupees ten thousand.

 

HDFC Ltd

The HDFC bank is offering a floating interest rate of 6.90 percent to 8 percent with rupees 769-836 as (per lac EMI) and a processing fee up to 0.50 percent for individuals receiving a monthly salary and for self-employed professionals applicable on the total amount of loan taken. The processing fee for self-employed non-professionals is up to 1.50 percent.

 

Bank of India

The Bank of India is offering an interest rate of 6.95 percent to 8.35 percent with rupees 772-858 as (per lac EMI), and a processing fee of 0.25 percent applicable on the total amount of loan taken along with additional GST charges subject to a minimum of rupees fifteen hundred and a maximum of rupees twenty thousand.

 

Kotak Mahindra Bank

The Kotak Mahindra Bank is offering a floating interest rate of 6.75 percent to 8.45 percent with rupees 760-865 as (per lac EMI) and a processing fee of 0.25 percent to 1 percent applicable on the total amount of loan taken along with additional GST charges.

 

Union Bank

The Union Bank is offering a floating interest rate of 6.8 percent to 7.40 percent with rupees 763-799 as (per lac EMI) and a processing fee of 0.50 percent applicable on the total amount of loan taken subject to a maximum of rupees fifteen thousand along with additional tax charges.

 

UCO Bank 

The UCO Bank is offering a floating interest rate of 6.90 percent to 7.25 percent with rupees 769-790 as (per lac EMI) and a processing fee of 0.50 percent applicable on the total amount of loan taken subject to a minimum of Rupees fifteen hundred and a maximum of rupees fifteen thousand.

 

ICICI Bank

The ICICI Bank is offering a floating interest rate of 6.90 percent to 8.05 percent with rupees 769-840 as (per lac EMI) and a processing fee of 0.50 percent applicable on the total amount of loan taken along with additional tax charges.

 

South Indian Bank

Along with a floating interest rate of 7.95 percent to 9.45 percent with rupees 833-929 as (per lac EMI), the South Indian Bank is offering a processing fee of 0.50 percent applicable on the total amount of loan taken subject to a minimum of rupees five thousand and a maximum of rupees ten thousand.

 

Punjab National Bank (PNB)

The Punjab National Bank (PNB) is offering a floating interest rate of 6.80 percent to 7.75 percent with rupees 763-821. Additionally, the bank is also offering a full waiver of processing fees and documentation charges as the new year bonanza offer valid from January 1, 2021, to March 31, 2021.

Conclusion

Now that we have covered the home loan interest rates for some of the major banks in India, you can start planning for the house you adore at a reasonable home loan interest rate that you can manage to pay for. Arm yourself with the banks mentioned above and compare their home loan interest rate, processing fee, and other applicable charges and narrow down the choices to make the right decision and get what’s best suited for you.

 

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