Get Minimum Interest Rates on Home Loan From These Banks If you want to buy a house by taking a loan but are worried that the EMI burden is going to be high due to the repo rate. So today we will know about some such banks which are charging less interest.
Recently, the Reserve Bank of India ( RBI ) has increased the repo rate for the sixth time , due to which the interest rate on home loan has also increased significantly. In such a situation, it is a bit disappointing for those who dream of buying a house.
However, let us tell you that even now you can buy your dream home by taking a loan and for this you will not have to pay much EMI burden. There are many financial taxpayers like Axis Bank, Union Bank which is charging very low interest for home loan. So let’s know about these banks.
At present the percentage of interest is
At present, the interest rate of home loan has increased significantly. RBI has increased the repo rate six times since May 2022, increasing by 250 basis points i.e. 2.50 percent. Under the new monetary policy, the repo rate has been increased by a total of 25 bps and now stands at 6.50 per cent. Due to this, the home loan interest rate of most of the banks has increased to more than 9 percent. At the same time, there are some banks which are giving interest rate of 8.60 percent or around it.
Get the lowest interest rate in these banks
- Axis Bank: 8.75%
- Kotak Mahindra Bank: 8.65%
- Kotak Mahindra Bank: 8.65%
- Union Bank of India: 8.6%
- Indian Overseas Bank: 8.6%
- Bank of Maharashtra: 8.6%
- Central Bank of India: 8.55%
- Bajaj Finserv: 8.6%
- Aditya Birla Housing Finance: 8.75%
Let us tell you that it is very important to have a good credit score for taking a home loan, it also helps in deciding your interest rates. Credit score is also called CIBIL score. If your CIBIL score is very good then you will get home loan at a cheaper interest rate as compared to those with low score. Whereas, the lower your score, the higher the interest rates.
