Since the repo rate hike by the Reserve Bank of India, several banks have updated their home loan rates. Here are the rates, tenures and processing fee details of five top banks.
Interest rates on home loans have taken a hit after the Reserve Bank of India (RBI) increased the repo rate by 40 basis points earlier this month. Some banks, like ICICI Bank and Bank of Baroda hiked the interest rates of home loans. Other banks also updated their interest rates. Those applying for home loans can do their research to get the best deal.
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Here’s a look at the top banks offering the best home loan interest rates:
1. State Bank of India
2. Bank of Baroda
Bank of Baroda also offers attractive interest rates on home loans with the same comfortable repayment period as SBI. Borrowers can get a maximum loan amount of Rs 5 crore with the Bank of Baroda housing loan.
Citibank offers home loans of up to Rs 10 crore at low interest rates. The bank also provides borrowers an option to extend the tenure for ease of repayment till 25 years. Borrowers can get up to 80 percent of the total property cost with Citibank home financing schemes.
HDFC Ltd offers affordable home loans to eligible borrowers with attractive interest rates and a comfortable repayment period.
5. Kotak Mahindra Bank
Kotak Bank offers the Digi Home Loan at attractive interest rate for both salaried and self-employed applicants. The bank is offering a special interest rate as part of its special balance transfer offer. With the Digi Home Loan of Kotak Mahindra Bank, borrowers can get 90 percent of the property value in case of a home loan balance transfer. The bank also offers housing loans under the PMAY scheme and provides concessions for women borrowers.