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    Lowest Home Loan Interest Rates to Spread Cheer This Diwali

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.15% - 9.3% Floating
    0% to 0.35% (max. ₹11,500)
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    9.3% - 10.5% Floating
    0.25% to 0.5% (min. ₹5750) One time fee
    5L Min
    1-30 Years
    Response Time Within 30 minutes
    9.2% - 9.5% Floating
    0.5% (min. ₹11,500) One time fee
    5L - 10Crs
    3-30 Years
    Response Time Within 30 minutes
    Paperless Approval Option Available
    9.15% Floating
    Up to 0.5% (max. ₹11,500) One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    9.20% Floating
    Up to 0.5% One time fee
    2L - 3Crs
    1-30 Years
    Response Time Within 30 minutes
    9.15% - 10.25% Floating
    Up to 0.5%
    15L - 5Crs
    1-20 Years (10 yrs plot loan)
    Response Time Within 30 minutes
    9.15% - 11.75% Fixed/Floating
    Up to 1% One time fee
    5L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    9.10% - 9.15% Floating
    5750 One time fee
    40L - 5Crs
    1 - 25 Years
    Response Time Within 30 minutes
    12.50% - 19% Floating
    2% One time fee
    2L - 1Cr
    1-20 Years
    Response Time Within 30 minutes
    9.15% Floating
    5,000 to ₹10,000 + S.T. One time fee
    20L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    11.12% Floating
    1% One time fee
    2L - 5Crs
    1-30 Years
    Response Time Within 30 minutes
    14% Floating
    2% One time fee
    2 - 25L
    5-25years
    Response Time Within 30 minutes
    Home Loan BYTES FROM OUR KITCHEN

    Overview:

    Buying a new home, although exhausting, is quite an exciting experience. The entire process of shopping for furnishings and other paraphernalia ends in the realization of a brand new abode.

    In our country, purchasing a house during the festive season is considered auspicious. In line with this belief, property builders have geared up for the upcoming Diwali with attractive offers on middle-income houses and plush properties. Banks are also offering home loan interest rates that are pocket-friendly and flexible. Here, we explore the most attractive interest rates offered by banks to light up the festive season this year.

    Attractive Home Loan Interest Rates in 2016:

    Home loans are taken to purchase, renovate and extend houses, while the house itself stands security to the loan. The amount of interest that is paid on a 20 year home loan is sometimes more than the total loan amount itself. Hence, it is important to check the latest interest rates that banks are offering today and choose a home loan judiciously.

    Some of the most appealing home loan interest rates available now are listed below.

    State Bank of India Current Home Loan Interest Rates:

    The interest rates offered by SBI on home loans are the lowest in the industry today.

    Borrowers' category Home Loan interest rate, irrespective of loan limit EMI per Lac for 30 year Tenor Maxgain above Rs. 20 lacs & upto Rs. 1 crore Maxgain above Rs. 1 crore CRE Maxgain, irrespective of loan limit
    Women 20 bps above the MCLR i.e. 9.30% p.a Rs. 827 30 bps above the MCLR i.e. 9.40% p.a. 55 bps above the MCLR i.e. 9.65% p.a. 75 bps above the MCLR i.e. 9.85% p.a.
    Others 25 bps above the MCLR i.e. 9.35% p.a. Rs. 830 35 bps above the MCLR i.e. 9.45% p.a. 60 bps above the MCLR i.e. 9.70% p.a. 80 bps above the MCLR i.e. 09.90% p.a

    When the Home Loan borrower is a woman, she should either be the sole applicant or one of the co-applicants. She should also be the sole owner or one of the co-owners of the proposed property.

    ICICI Bank Current Home Loan Interest Rates:

    The Home loan interest rates from ICICI Bank are different for varying demographics.

    Salaried Applicant:

    Floating Interest Rate
    Category Effective Rate of Interest Rate
    Up to Rs. 5 crore 9.45% I-MCLR-1Y + 0.35%
    Above Rs. 5 crore 9.70% I-MCLR-1Y + 0.60%
    Fixed Interest Rate for 2 Years, 3 Years
    Category Fixed rate for 24/36 months Floating rate pricing from 25th/37th month
    Up to Rs. 5 crore 9.45% I-MCLR-1Y + 0.35%
    Above Rs. 5 crore 9.70% I-MCLR-1Y + 0.60%
    Fixed Interest Rate for 5 Years, 10 Years
    Category Fixed rate for 60/120 months Floating rate pricing from 61st/121st month
    Up to ₹ 30 lacs 9.45% I-MCLR-1Y + 0.35%
    Above ₹ 30 lacs 9.55% to 9.80% I-MCLR-1Y + (0.45% to 0.70%)
    Full Tenor Fixed Interest Rate
    Category Effective Rate of Interest
    Up to ₹ 30 lacs 9.75%
    Above ₹ 30 lacs 9.85% to 10.10%

    Self Employed Applicant:

    Floating Interest Rate
    Category Effective Rate of Interest Rate
    Up to Rs. 1.5 crore 9.45% I-MCLR-1Y + 0.35%
    Above Rs. 1.5 crore 9.55% to 9.7% I-MCLR-1Y + (0.45% to 0.60%)
    Fixed Interest Rate for 2 Years, 3 Years
    Category Fixed rate for 24/36 months Floating rate pricing from 25th/37th month
    Up to Rs. 1.5 crore 9.45% I-MCLR-1Y + 0.35%
    Above Rs. 1.5 crore 9.55% to 9.70% I-MCLR-1Y + (0.45% to 0.60%)
    Fixed Interest Rate for 5 Years, 10 Years
    Category Fixed rate for 60/120 months Floating rate pricing from 61st/121st month
    Up to ₹ 30 lacs 9.45% I-MCLR-1Y + 0.35%
    Above ₹ 30 lacs 9.55% to 9.80% I-MCLR-1Y + (0.45% to 0.70%)
    Full Tenor Fixed Interest Rate
    Category Effective Rate of Interest
    Up to ₹ 30 lacs 9.75%
    Above ₹ 30 lacs 9.85% to 10.10%

    Women Applicant:

    Floating Interest Rate
    Category Effective Rate of Interest Rate
    Up to Rs. 5 crore 9.40% I-MCLR-1Y + 0.30%
    Above Rs. 5 crore 9.65% I-MCLR-1Y + 0.55%
    Fixed Interest Rate for 5 Years, 10 Years
    Category Effective Rate of Interest Rate
    Up to ₹ 30 lacs 9.40% I-MCLR-1Y + 0.30%
    ₹ 30 lacs to ₹ 5 crore 9.50% I-MCLR-1Y + 0.40%
    Above ₹ 5 crore 9.75% I-MCLR-1Y+0.65%
    Full Tenor Fixed Interest Rate
    Category Effective Rate of Interest
    Up to ₹ 30 lacs 9.70%
    ₹ 30 lacs to ₹ 5 crore 9.80%
    Above ₹ 5 crore 10.05%

    Weaker Section Applicant:

    Floating Interest Rate
    Category Effective Rate of Interest Rate
    Up to ₹ 25 lacs 9.40% I-MCLR-1Y + 0.30%

    Dena Bank Current Home Loan Interest Rates:

    Dena Bank offers home loans at fixed and floating interest rates.

    Floating Rate of Interest Fixed Rate of Interest (To be reset at the end of every 3 years)
    Up to Rs.75 Lacs MCLR = 9.45% (Floating) Limit up to Rs. 25 Lacs 11.25% (Fixed)
    Above Rs.75 Lacs MCLR + 0.25 = 9.70% (Floating) Limit Rs. 25.00 to 30 Lacs 11.25% (Fixed)
        Limit above Rs.30 Lacs 11.75% (Fixed)

    Apart from the above banks, most of the other leading financial institutions are also offering home loans at attractive rates.

    Bank Interest Rates
    HDFC Bank 9.4% - 9.95%
    Axis Bank 9.4% - 9.45%
    PNB Housing Finance 9.55%
    LIC Housing Finance 9.8% - 11.7%
    Citibank 9.3% - 10.05%
    Standard Chartered Bank 9.35% - 9.4%
    DBS Bank 9.1% - 9.6%
    DHFL 9.55% - 10%
    Karur Vysya Bank 10.90%
    Kotak Bank 9.7% - 14.45%
    Ratnakar Bank 10.25% - 11.5%
    Deutsche Bank 9.75%
    HSBC Bank 9.35% - 9.4%
    Edelweiss 10.5% - 10.9%
    GIC Housing Finance 10.25%
    Reliance Capital 10% - 11.75%
    Bank of Baroda 9.65% - 10.65%
    Corporation Bank 9.6% - 9.85%
    IDBI Bank 9.45%
    Indian Bank 9.55% - 9.75%
    Indian Overseas Bank 9.55% - 9.8%
    OBC 9.55% - 9.65%
    Syndicate Bank 9.55%
    Indiabulls 9.4% - 11.75%
    Catholic Syrian Bank 10.25% - 10.5%
    City Union Bank 10.65% - 11.85%
    Development Credit Bank 10.6% - 11.25%
    Dhan Laxmi Bank 10.35% - 10.6%
    Karnataka Bank 9.7% - 9.95%
    South Indian Bank 9.85%
    Tamilnad Mercantile Bank 10.4% - 10.9%
    Federal Bank 9.57% - 9.82%
    Jammu and Kashmir Bank 9.4% - 9.75%
    Lakshmi Vilas Bank 10.40%
    Allahabad Bank 9.55% - 9.8%
    Andhra Bank 9.75% - 10%
    Bank of India 9.7% - 9.95%
    Bank of Maharashtra 9.65% - 10.4%
    Canara Bank 9.55% - 9.65%
    Central Bank of India 9.70%
    Punjab and Sind Bank 9.6% - 9.85%
    State Bank of Hyderabad 9.70%
    State Bank of Mysore 9.60%
    State Bank of Patiala 9.60%
    State Bank of Travancore 9.6% - 9.85%
    UCO Bank 9.60%
    Union Bank of India 9.5% - 9.55%
    Vijaya Bank 9.65%
    United Bank of India 9.60%

    So, if you are looking to purchase a home loan in the near future, you should take advantage of the offers this festive season. With the availability of home loans with long tenures and flexible repayment options, the upcoming Diwali is all set to spread some sparkle in the lives of prospective home owners.

    News About Lowest Home Loan Interest Rates to Spread Cheer This Diwali

    • Snapdeal begins property sale for Diwali

      Online marketplace Snapdeal begin selling property online and have kicked off sale on its platform by offering a 10% discount on the basic price of an apartment as well as offering other goodies. The Diwali offer begins from 5th October and lasts till 21st October 2016. This is not the first time Snapdeal has sold homes. In fact this is the second edition of their property sale. They managed to sell 50 homes in 7 days of the sale that took place last year. The properties listed in the shopping festival belong to major builders such as Puravankara, Provident Housing and Prestige Group among others.

      27th October 2016

       
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