Interest Rates on Home Loan of Major Banks (Dec 2019)

Home loan interest rates

Interest Rates on Home Loan of Major Banks (Dec 2019)

Home Loan Interest Rates December 2019

Introduction

In this article you will find the Interest Rates on Home Loan of Major Banks in India. These interest rates are as on last updated by the respective websites.

Interest Rates on Home Loans of Major Banks (December 2019)

  • Home loan can be used for purchasing a new house, construction of house on a plot, home improvement, extension and renovation of your existing house.
  • These rates can vary depending upon the value of the property and your repayment capacity. Higher the loan amount, higher will be the rate of interest.
  • You can choose the bank which provides lowest interest rates and also which you think has good reputation, great service and easy accessibility.

Given below are the interest rates for home loans offered by major banks for December 2019 :

Interest Rates on Home Loan of Major Banks (December 2019)
Interest Rates on Home Loan of Major Banks (December 2019)
Source : Bank Websites
eBook By Invest Yadnya
 Interest Rates on Home Loan of Major Banks (December 2019)
Source : Bank Websites
Interest Rates on Home Loan of Major Banks (December 2019)
Source : Bank Websites

Note:-

  • The above details are as specified by the banks on their website.
  • Some banks have only mentioned a range of the interest rate offered by them. For a more detailed specification will have to contact the bank.
  • The above way of presentation of interest rates is not common to all the banks. It has been standardized for a neat presentation of interest rates. Some banks may have presented the information differently.

Summary

  • Punjab National Bank and State Bank of India has lowered its interest rates for home loans up to Rs.30 lakh.
  • Canara Bank , Union Bank of India, Oriental Bank of Commerce and Indian Overseas Bank also offer comparatively lower interest rates on home loans provided by them.
  • The above list of interest rates on home loans of major banks can help you decide which bank to choose. You can choose the bank which provides lowest interest rates and also which you think has good reputation, great service and easy accessibility.

6 Comments on "Interest Rates on Home Loan of Major Banks (Dec 2019)"

    […] The Statutory Liquidity Ratio acts as one of the reference rates when RBI has to determine the base rate. Base rate is nothing but the minimum lending rate. No bank can lend funds below this rate. This rate is fixed to ensure transparency with respect to borrowing and lending in the credit market. The Base Rate also helps the banks to cut down on their cost of lending so as to be able to extend affordable loans. […]

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.


%d bloggers like this: