Customers go for home loan from any reputed bank to fulfill the dream home. These include Construction, Purchase, Renovation of property. The interest rate today based on the loan amount and varies from one to other banks. Individuals prefer home loan for completion of dream home. The customer should be educated enough what are interest rates today. The bank offers home loan for salaried and self-employed professionals. Cut off loan amount depends upon the requirement and type of the loan the individual desire.
In a nutshell here are few banks along with their interest rates.
SBI Home Loan Interest Rate:
The SBI home loan interest rate is 9.95% up to Rs 30lac at 0.25%. It is 10.10% for above Rs 30lac at 0.40%. Customers trust the transparency of the home loan document. Individuals interested to take home loan should pay an EMI in 995 installments at an interest of 9.95% for 25 years. The EMI is from 9.95% to 10.10% for 15 to 20 years up to Rs 30lac with an increase in installments.
SBH Home Loan Interest Rate:
The loan is depending on the economical class of the customers. The minimum lending rate of the bank is 10.25% per annum. Individuals opt for 240 months EMI for 45 years with an interest of 9.25%. The prepayments of the loan include free of cost. Individuals who are interested to take loan up to Rs. 30lac for a period of 20 years is 10.20%.
Customers are curious in the home loan interest rates as they reduce burden on the individual’s pocket. The tenure term of loan up to Rs 30lacs supports at an interest of 10.00%. The interest rate of loan for Rs. 30 to Rs. 75lacs is 10.10%. The home loan more than Rs 75lacs Bank of America interest rate is 10.25%
Punjab National Bank Home Loan:
The PNB home loan interest rate depends on the pocket expenses of the individuals in specific cases as it is 20% for Rs. 20lacs and 25% for the individuals who avail home loan above Rs. 25lacs. Individuals should pay Rs.1350 as document charges. Individuals who draw home loan amount of Rs. 300lacs should pay 0.50% of the loan amount with an interest amount of Rs. 20000/- along with taxes. Home loans above Rs. 300lacs should pay Rs. 50000/- along with taxes.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.