Searching Lowest Interest Rate for Home Loan? The List is Here
Lenders Offering Lowest Interest Rate for Home Loan
A home still eludes most because of the price remaining out of their budget. Even those who find the price fit don’t find the interest rate appealing. And so, the deal does not go through. The rates must be a lot lower to fit the EMI to your financial routine.
As a home loan can run up to 30 years, the rate differential can bring considerable changes to your repayment calendar over the years. A lot of queries have thus come on search engines regarding lowest home loan interest rate. All such queries have the resolution in this article. So, just keep reading and finding the answers.
Lenders Offering Lowest Interest Rate for Home Loan
As of now, there are several lenders that can offer you a home loan at affordable rates. Let’s just view the rates of these lenders one after another.
Home Loan Interest Rates SBI
State Bank of India (SBI) prices its home loans according to the quantum of finance, gender and profession. Broadly speaking, its rates range from 8.45%-9.00% per annum. Women borrowers (salaried) can service a loan of up to ₹30 lakhs at 8.45%-8.55% per annum. Non-salaried women can get the same loan at 8.60%-8.70% p.a. Male borrowers would service the same loan amount at 8.50%-8.60% (salaried) and 8.65%-8.75% (non-salaried), respectively.
Loan between ₹30-75 lakhs would be serviced by salaried women at 8.60%-8.70%. Non-salaried women are likely to grab it at 8.75%-8.85% p.a. Male salaried would get the same loan at 8.65%-8.75% and those non-salaried at 8.80%-8.90% p.a.
Loans above ₹75 lakhs would be available for salaried women at 8.70%-8.80% per annum. On the other hand, non-salaried would need to pay at 8.85%-8.95% p.a. Male borrowers need to service it at 8.75%-8.85% (salaried) and 8.90%-9.00% (non-salaried), respectively.
Home Loan Interest Rates HDFC
HDFC Limited, one of the premier mortgage finance companies, prices its loans based on the quantum of finance and gender of an individual. Female and male borrowers would need to pay a loan of up to ₹30 lakhs at 8.50%-9.00% and 8.55%-9.05%. Loan above ₹30 lakhs would come at 8.60%-9.10% and 8.65%-9.15% for women and men, respectively.
Home Loan Interest Rates Axis Bank
Axis Bank also ranks among those offering loans at lower interest rates, which vary according to the profession of an individual. Salaried get to service at lower rates than self-employed individuals across different loan amounts. Loan of up to ₹30 lakhs, ₹30-75 lakhs and above 75 lakhs is available for salaried at 8.40%, 8.65% and 8.70% per annum, respectively. Self-employed, on the other hand, would need to service the loan amount in the same order as shown above at 8.45%, 8.70% and 8.75%.
LIC HFL Home Loan Rates
One of the mainstream housing finance companies (HFCs), LIC HFL keeps the rate of 8.45%-8.90% on its home loans.
