Where to get the cheapest home loan, see top 10 banks list, but remember these conditions.

Preparing to take home and wondering where to get the cheapest home loan, we are going to tell you the top 10 banks in the country that can give you the cheapest home loan. It also includes giants like SBI, HDFC, ICICI Bank...

Many banks are offering home loans at 7%. Many less banks provide lower home loan rates.

Preparing to take home and wondering where to get the cheapest home loan, we are going to tell you the top 10 banks in the country that can give you the cheapest home loan. It also includes giants like SBI, HDFC, ICICI Bank. In the recent past, these banks have also announced a cut in their interest rates. Many of these top-10 banks have interest rates of less than 7 %.

The Reserve Bank of India (RBI) has cut the repo rate and reverse repo rate several times in recent times. Rbi cut the repo rate and reverse repo rate by 0.40 percent in June 2020. Here is the list of banks that are offering you the cheapest home loans.

Bank Interest Rate

• 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 Bank 6.95% – 7.10%

• ICICI Bank 6.95% – 7.60%

• PNB 7.00% – 7.60%

• Bank of Baroda 7.25% – 8.25%

• UCO Bank 7.15% – 7.25%

Condition for getting a cheaper loan

Before taking a loan, you must remember that banks also charge loan processing fees, which are different for each bank. Usually, it ranges from 0.25% to 0.50% 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 banks claim a cheaper home loan, but whether they will give you a cheaper loan depends on how much your CIBIL score is. If you want banks to give you a cheaper loan, your CIBIL score should be 700 or more.

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The information contained herein is generic in nature and is meant for basic educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product/Examnination purpose. Subject to Amendments. Yogesh Suthar is not liable for any decision arising out of the use of this information.