Banks across India are starting to offer a range of offers and concessions as the festive season approaches. One phenomenon that has become prevalent in recent times is a nationwide drop in interest rates on home loans. This is due to a range of factors. The biggest influence has been the Reserve Bank of India’s decision to inject liquidity into the Indian financial markets, followed by various government initiatives, such as stamp duty exemptions.
You can compare the home loan interest rates of some of the banks and housing finance companies
The State Bank of India (SBI) had earlier lowered interest rates on home loans to 6.7%.
HDFC announced it would offer home loan interest rates as low as 6.7%.
Punjab National Bank’s interest rate for homes over 50 lakh rupees has been lowered by 0.50% to 6.60%.
Bank of Baroda also offers 6.75% interest on home loans up to 75 lakh with a 20-year tenure.
During the festive season, Yes Bank is offering 6.7% home loan rates for a limited period.
Kotak Mahindra Bank has cut its interest rate by 15 basis points, bringing it down to 6.50% per annum.
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Kishan Thakkar is working as a writer for the real estate and architecture industry. His experience includes working for various reputed firms. He is currently pursuing MBA in Business Management and handling operations for The Real Talks platform. He has a penchant for research, analysis, and understanding various fields. Discipline is the key to balance his diversified interest and work routine.