Cheapest Home Loan: SBI, HDFC, PNB or Bank of Baroda, know where to get the cheapest home loan - Newztezz Online


Friday, February 17, 2023

Cheapest Home Loan: SBI, HDFC, PNB or Bank of Baroda, know where to get the cheapest home loan

Home Loan: On February 8, the RBI Repo Rate was increased by 25 basis points from the Reserve Bank of India. After this increase, many banks have increased the interest of their home loans, car loans and personal loans. Bank of Baroda, PNB, SBI Bank have increased their loan interest. 

If you are also planning to take a home loan during this period, then it is important for you to know in detail about the loan interest and processing fees of all the banks. After this, you can take a home loan from a bank that gives loans cheaply. Let us know which bank is providing you loan at how much interest. 

How much is the home loan interest of State Bank 

The country's largest bank has increased the Marginal Cost of Funds Based Lending Rates (MCLR) by 0.10 percent and the Repo Rate Linked Lending Rate by 0.25 percent. However, under a scheme, SBI is giving loan on home loan at low interest. If the CIBIL score is 800, then the loan will be available at 8.85 percent, 8.95 percent on the CIBIL score of 700 - 749 and 9.65 percent on the CIBIL score of 550 - 649. 

How much interest is being charged on HDFC Bank home loan? 

A day before the RBI increased the repo rate, HDFC Bank had made its loan interest costlier. If someone takes a loan up to Rs 30 lakh, then he will have to pay 9 percent to 9.50 percent interest, while for women, interest will have to be paid between 8.95 percent to 9.45 percent. For amounts above 30 lakhs and up to 75 lakhs, interest ranging from 9.25 to 9.75 percent will be charged. Interest ranging from 9.20 percent to 9.70 percent will be charged for women. 

Punjab National Bank Home Loan 

If any citizen takes home loan under PNB's Max Saver, then 800 CIBIL score and home loan interest will have to be paid at 8.80 percent on an amount up to Rs 30 lakh. Home loan interest on CIBIL score of 700-749 will be 9 percent and on score of 600-699 the interest will be 9.35 percent. 

Bank of Baroda Home Loan 

This bank has also increased its MCLR rate recently. Its home loan interest starts from 8.90 per cent and goes up to 10.50 per cent. However, the interest for non-salaried people ranges from 8.95 per cent to 10.60 per cent. 

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