Home Loan Where to get the cheapest home loan, see list of top-10 banks

 Home Loan  Where to get the cheapest home loan, see list of top-10 banks

 

If you are preparing to buy a house and are wondering where to get the cheapest home loan, we are telling you the top 10 banks in the country that can give you the cheapest home loan.

If you are preparing to buy a house and are wondering where to get the cheapest home loan, we are telling you the top 10 banks in the country that can give you the cheapest home loan. This includes giant banks like SBI, HDFC, ICICI. Currently, these banks have also announced a reduction in their interest rates. Many of these top-10 banks have interest rates of less than 7 per cent.

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The Reserve Bank of India (RBI) has recently reduced the repo rate and reverse repo rate several times. The RBI cut the repo rate and reverse repo rate by 0.40 per cent in June 2020. As a result, many banks have reduced their interest rates. This is the list of banks that are giving you the cheapest home loan.

Bank interest rates

Union Bank of India  6.85% - 7.75%

Bank of India 6.85% - 7.75%

Central Bank 6.85% - 7.30%

Canara Bank 6.90% - 8.90%

SBI 6.95% - 7.10%

HDFC 6. 6.95% - 7.10%

ICICI 6. 6.95% - 7.60%

PNB 7.00% - 7.60%

Bank of Baroda 7.25% - 8.25%

UCO Bank 7.15% - 7.25%

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The condition of getting a cheap loan

Before taking a loan, you should keep in mind that the bank also charges a loan processing fee, which varies from bank to bank. It usually ranges from 0.25 per cent to 0.50 per cent of the total loan. Many banks also charge processing fees up to 1.25%, such as Kotak Mahindra Bank and HDFC Limited. One thing to remember is that the bank claims a cheap home loan, but whether it will give you that cheap loan depends on your Sibyl score. If you want the bank to give you a cheap loan, your syllabus score should be 700 or higher.