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SBI, HDFC, ICICI offering home loans at as low as 8 percent, check latest rates
List of banks that are offering home loans at the cheapest rates.
Updated : Nov 11, 2022, 07:04 AM IST | Edited by : Raunak Jain
 "bank of india, Business News, Interest Rate, Home Loan, home loan interest rate, RBI, repo Rate, State Bank Of India, ICICI Bank")
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Home loan interest rate: If you're planning to purchase the home of your dreams and require a home loan, then this information may be useful to you. A home loan is now available at an annual rate of 8 per cent. You can obtain a house loan with the lowest EMI possible.
Banks which are offering house loans at the lowest interest rates are the State Bank of India, ICICI Bank, Bank of India, HDFC Bank, Punjab National Bank, and Bank of Maharashtra.
State Bank of India
Depending on the applicant's credit score, the State Bank of India offers a range of interest rates for house loans. Interest rates for mortgages range from 8.4 per cent to 9.05 per cent.
Axis Bank
ICICI Bank provides various interest rates based on the applicant's credit score. The standard interest rate for mortgages is 8.4 Per cent. 9.5 per cent is the maximum, depending on the borrower's profile.
HDFC Bank
Rates for HDFC Bank home loans begin at 8.6 per cent for women and 8.65 per cent for everyone else. For loans under Rs. 30 lakh, the interest rate might reach 9.1 per cent. Home loans between Rs 30 lakh and Rs 75 lakh have interest rates that vary from 8.85 per cent to 9.40 per cent.
Punjab National Bank
Depending on the credit score, profile, and kind of house loan, Punjab National Bank (PNB Bank) offers a range of interest rates from 8.20 to 9.35 per cent. The interest rate for loans up to Rs 30 lakh is 8.2 per cent. After RLLR and BSP are included, it reaches 8.65 per cent in this.
Bank of India
The repayment period for the Bank of India Star Home Loan is 30 years. You will be required to pay an annual interest rate of 8.30 per cent on the mortgage in this case.
Bank of Maharashtra
The MCLR was raised by the Bank of Maharashtra from 7.80 per cent to 7.90 per cent for a year. Customer loans such as a vehicle, personal, and mortgage loans all carry the same rate of interest. The MCLR is in effect as of November 7, 2022. The MCLR for the one-month tenor has also been raised by 0.05 points to 7.50 per cent at the same time. The interest rates for loans with terms of one day, three months, and six months have not changed.
RBI raises the repo rate.
The repo rate was raised by the Reserve Bank of India (RBI) by 190 basis points this year. 5.9 per cent is the current rate. The RBI raised its interest rates following an increase in the repo rate. Following this, the loan and EMI increased in cost.
