Plan to buy a home with a home loan: These 5 banks are offering the cheapest loan

The person living in the biggest house of rent wants that small is right, but if he has his own house then the huge tension will go away. It is true that a house is the largest capital of any person’s life. However, the investment to buy a house is very large and buying a home without a home loan is not possible for the middle class people. Now the festive season will start with the beginning of Navratri in a few days. Most of the builders offer very attractive offers during the festive season. On the other hand, home loans are also much cheaper due to the repo rate being significantly lower. According to experts, this is the most favorable time to take property. 

If you are also thinking of getting a new house, then for this you need to keep some things in mind. First of all you need to know whether the builder from whom you are going to buy the flat is builder and project approved. Banks will not give you a loan if the project is not approved. Also, it is necessary to look at RERA registration and the track record of the builder. After that the rates of home loans of different banks should be compared.  

Let’s know the names of the 5 banks offering home loans at the lowest interest rate:

• Union Bank of India: This public sector bank is offering home loans at the rate of 6.70 per cent. This bank charges processing fees at the rate of 0.50 percent on the loan amount. However, the processing fee here cannot be more than Rs 15,000.
• Bank of India: This lender is offering home loans at the rate of 6.85 percent. Bank of India charges processing at the rate of 0.25 per cent of the total amount of the loan. This amount is between a minimum of Rs 1,500 and a maximum of Rs 20,000.
• Central Bank of India: On taking a home loan from this bank, you will have to pay interest at the rate of 6.85 percent. The bank has kept processing fees equal to 0.50 percent of the loan amount. However, the bank has set a maximum limit of Rs 20,000 here.
• Canara Bank: This public sector bank is offering residential loans at an interest rate of 6.90%. The bank charges processing fees at the rate of 0.50 per cent of the total loan amount. The bank has fixed a minimum of Rs 1,500 and a maximum of Rs 10,000 as processing fees.
• HDFC Bank (HDFC Bank): The country’s largest private sector bank is also offering home loans at the rate of 6.90 percent. Talking about processing fees, the bank charges this fee at the rate of 0.5 percent of the loan amount. However, this amount should not exceed Rs 3,000.