Three banks of the country have given a big gift to the people who make their dream come true by taking home loan. SBI, Kotak Mahindra Bank and Bank of Baroda have reduced interest rates for home loans. While Kotak Mahindra Bank has announced a reduction in home loan interest rate by 0.15 percent, SBI has completely waived the processing fee along with reducing the interest rate and concession based on credit score. also giving. At the same time, Bank of Baroda has also made many announcements.
SBI reduced interest rate and waived processing fee
The country’s largest lender as well as home loan provider State Bank of India (SBI) has announced a festive bonanza for potential home loan customers, which will not only get lower interest rates but also completely waived off processing charges. and concession will also be given on the basis of credit score. The bank said it aims to make home loans more affordable during the festive season. In a one of its kind initiative, SBI offers Credit Score Linked Home Loan at just 6.70 per cent.
Home loan at a minimum interest rate of 6.70 percent
Earlier, for taking a loan of more than Rs 75 lakh, an interest rate of 7.15 percent had to be paid. With the introduction of the festive offers, home loans will now be available at a minimum interest rate of 6.70 per cent for any amount, resulting in a savings of 45 basis points in interest.
Kotak Mahindra is offering home loan at the rate of 6.50 percent
Kotak Mahindra Bank has also made its home loan cheaper. This private bank has announced a reduction of 0.15 percent in the interest rate of home loans. This bank will now provide home loan at the rate of 6.50 percent. Home loans at this rate, however, are offered during festivals and will be available only for two months till November 8. The loan at this reduced rate will be given to the customers coming from the salaried class with the highest credit score.
Bank of Baroda also offered
Apart from SBI, another state-run bank, Bank of Baroda, has made several festive offers along with interest subvention for retail customers availing loans. On Baroda Home Loan and Baroda Car Loan, the bank has offered a discount of 0.25 percent in the current rate. The interest rate of the bank’s home loan starts from 6.75 percent and vehicle loan from 7 percent. The bank has also announced a waiver of home loan processing fees.
