Know the latest rates from SBI, ICICI Bank, Kotak Mahindra

The loan market in India saw a substantial drop in interest rates after the Reserve Bank of India eased its policies and reduced its rates of injecting liquidity into the economy. The measures were aimed at facilitating economic recovery from the COVID-19 pandemic and encouraging people to make big purchases. Now, ahead of the big holiday season in India, many banks including SBI, ICICI Bank, PNB, Bank of Baroda, Yes Bank and Kotak Mahindra Bank are offering home loans at interest rates. reduced attractive. So if you are looking to buy a new home this season, these reduced interest rates could help you save money on the deal. Here is a list of banks that cut their mortgage interest rates ahead of the holiday season.

National Bank of India

Leading the way is India’s largest public sector lender, the SBI. The bank offers credit-linked home loans starting at just 6.70 percent. This is regardless of the amount of the loan amount. Previous borrowers were required to pay an interest rate of up to 7.15% for loans above Rs 75 lakh. In addition, there is no processing fee in some cases and the rates interest even applies to balance transfer cases.

National Bank of Punjab

Mortgage interest rates were also lowered by another public sector bank, PNB. For loans up to Rs 50 lakh, the bank reduced the interest rate from 0.50% to 6.60%. The PNB also claims that the mortgage loan it offers is also the lowest among public sector banks.

Baroda Bank

As part of its special offer, Bank Of Baroda is offering a 0.25% waiver on its existing home and auto loans. In addition, the bank offers a processing waiver and the interest rate for new home loans starts at 6.75%.

YES Bank

YES Bank has lowered mortgage rates to 6.7% per annum for the festival season. In addition, the bank has also introduced a special 90-day offer under which it will provide an additional 0.05% benefit to female salaried home buyers. The effective interest under this offer will be 6.65 percent

Kotak Mahindra Bank

Kotak Mahindra Bank offers home loans at interest rates as low as 6.50 percent. These interest rates are part of the bank’s festive offer and are valid from September 10 to November 8.

ICICI Bank

Home loan interest rates for ICICI bank clients start at 6.70 percent with processing fees starting at Rs 1,100 for new home loans as well as balance transfer of other home loans. banks.

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