Property prices are touching the sky, and in such a situation it has become common nowadays to take a home loan to buy your house. If you are also planning to take a home loan, then it is very important to know that the interest rate of each bank varies.
But don’t worry! The good news is that some banks are currently providing home loans at very low interest rates. Let’s know which are the banks and what are their schemes.
Cheap loans are getting in these banks:
Especially, two big government banks of the country – Canra bank And Indian bank – Have brought a great offer for their customers. These banks have recently cut 0.25% (ie 25 basis points) in their repo-linked lending rate (RLR). This simply means that taking home loan and auto loan from these banks has now become cheaper than before.
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Indian Bank (Indian Bank): After this deduction, Indian Bank reduced its home loan interest rate from 8.15% 7.90% Is done. At the same time, the interest rates of auto loan also decreased by 8.50% now 8.25% Has been done Not only this, this bank based in Chennai has also stated that along with reducing interest rates, they are also giving benefits like processing fee and zero documentation fee.
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Canara Bank (Canara Bank): Canara Bank has also cut its RLLR, which has now reduced the initial interest rates of all types of loans. After this deduction, home loan at Canara Bank 7.90% Auto loan is available at an initial interest rate 8.20% Available at an annual rate of annual.
SBI has also reduced rates:
The country’s largest bank, State Bank of India (SBI) Is not even behind. SBI also cut its borrowing rates by 0.25% after the Reserve Bank reduced the repo rate by the Reserve Bank some time ago. This has made it cheaper to take loans for both new and old customers. SBI’s repo linked lending rate (RLR) also reduced by 0.25% now after cuts in repo rate 8.25% It is done.
EBLR also decreased:
SBI has also cut the same in its external benchmark based lending rate (EBLR), after which this rate 8.65% Has occurred. These new rates have been implemented from April 15, 2025.
To say that if you are thinking of taking a loan, it can be a good time. Many banks have reduced their interest rates, which can make your EMI burden slightly lighter. Before taking the loan, compare the interest rates and conditions of different banks.
The post is thinking of buying a house? Know where the cheapest home loan is getting! First appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
