News India Live, Digital Desk: Home Loan: Buying a house due to rising inflation has now become more difficult than ever, and that is why most people are resorting to home loans to buy a house. If you too are thinking of buying a house and have made up your mind to take a home loan, then it is important that you choose a good and reliable bank. For this, comparing interest rates of different banks is the most important step. This will allow you a loan with the most favorable conditions, which will be correct according to your budget and needs.
Prominent government banks offering Home Loan at low interest rate
Many government banks in the country are offering very attractive interest rates to their customers on home loans. If you are also thinking of taking a home loan, then here we will tell you about the three major public sector banks of the country, who are offering home loans at low interest rates.
1. Bank of Maharashtra
Bank of Maharashtra offers home loans to its customers at a very competitive interest rate. If your CIBIL score is good, then you can get a home loan from this bank at an interest rate of only 8.10 percent. This is a very attractive interest rate, which can provide you financial assistance to buy a house.
2. Union Bank of India
Union Bank of India is also offering home loans to its customers at an interest rate of 8.10 percent. If your CIBIL score is good then this interest rate may be available to you. However, keep in mind that interest rates may be slightly different depending on the CIBIL score.
3. Central Bank of India
Central Bank of India also offers Home Loan with very good interest rates. Here too, if your CIBIL score is good, you can get a loan at an interest rate of 8.10 percent.
Empit EMI at home loan of 30 lakhs
Suppose, you take a home loan of 30 lakh rupees and the interest rate on it is 8.10 percent, then your EMI will be about ₹ 25,280 per month for a 20 -year loan period. This is a general calculation and may vary slightly depending on the terms and charges of the actual EMI bank.
Importance of interest rate and election of correct bank
When you think of taking a home loan, the most important aspect is which bank you take a loan and what interest rate is determined on it. The lower the interest rate, the less your monthly EMI will be and thus you will be able to buy a house in a more economical way. That is why it is very important for you to compare the interest rates of different banks.
With the choice of good bank, you can not only get a low interest rate on your loan, but the conditions and processes of the loan can also be easier.
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