New Delhi. How to take a cheap home loan? If you are dreaming of buying a home, now is the best time to fulfill it. Ahead of the festive season, home builders from the country’s largest banks and housing finance companies are offering tremendous discounts. In view of the increasing demands, at this time banks have reduced the home loan interest rate. Let us tell you that at present the interest rates of the cheapest home loan are at a low level of 10 years. In such a situation, it will be cheaper for you to buy a house.
Institutions including State Bank of India, PNB, Housing Development Finance Corp, Kotak Mahindra Bank Ltd. have reduced home loan rates by 15-60 basis points to between 6.5%. Let us tell you that 6.7% interest is the lowest level in a decade.
Property builders are giving huge discounts
Not only banks, but also great offers are being given to the customers by property builders. Builders are offering discounts and gifts to home buyers. With the demand expected to pick up in the festive season, builders are offering enticing offers to the customers. E-commerce company Flipkart is offering up to 80% off on electronics as part of a big billion sale.
According to Samantak Das, chief economist and head of research at property research firm Jones Lang, the decision to cut home loan interest rates will boost residential sales in view of stable home prices and a market filled with festive season.
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Know where are the interest rates?
LIC Housing Finance has reduced the home loan interest rates. LIC Housing Finance has reduced the home loan rate to 6.66 per cent for home loans up to Rs 2 crore. LIC Housing Finance said that all those taking this rate of loan with a Sibis score of 700 or more will get a loan at this rate of 6.66 percent. Irrespective of the profession of the customers, but they can take the loan. This loan will be applicable only on home loans taken from September 22 to November 30.
HDFC makes home loan cheaper
The country’s largest private sector bank and lender HDFC has given discount in home loan rates under the festive offer. HDFC Home Loan is offering to customers at the rate of 6.7 percent. Under special offers, customers can avail HDFC Home Loan. The bank said that these new rates will be applicable from today i.e. 21 September 2021. Under special offers, customers can avail HDFC Home Loan. This will apply to all new applications. Customers can take advantage of this scheme till 31 October 2021.
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SBI also made home loan cheaper
SBI had reduced the home loan rate to 6.7 percent by 31 March under a festive offer. Kotak Mahindra Bank on September 9 announced that it has reduced home loan rates by 15 basis points with effect from September 10. Kotak Mahindra Bank Limited (KMBL) is now at 6.50 per cent per annum instead of 6.65 per cent per annum. Giving home loan.
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