The dream of own house is the desire of every individual. The Home Loans with Interest Rate in India is different from other banks and individuals portfolio. The details about the interest rate and documentation vary from one another in India. Here are the details to support the customer choose the desired bank in a nutshell.
- 1 LIC housing loan interest rates
- 2 IDBI home loan interest rate
- 3 PNB home loan interest rate
- 4 SBI home loan interest rate
- 5 Bank of Maharashtra home loan Interest Rate
- 6 Bank of Baroda home loan Interest Rate
- 7 DHFL Home Loan Interest Rate
- 8 ING Vysya Home Loan Interest Rate
LIC Housing Finance attracts the customers to fulfil the dream of individual house by applying for home loan. The LIC housing loan offers loan for both salaried and business professionals. LIC has raised 35 basic points. The company has raised LIC Home Loan interest rates on Bhagyalakshmi Plus and Super Choice at 11.50% and the tenure is up to 10 years.
Housing loans are the best practices for the individuals to go for dream home. Customers go for a loan from SBI for a loan amount upto Rs. 75lakhs. The interst rate for loan amount is 10.75% for first 3 years. The amount increases from the fourth year as 11.90%. The LIC housing loan interest rate greater than Rs. 75lakhs is 11.25% for 3 years and 11.90% upto Rs.150lakhs. Customers who avail loan for an amount Rs. 150lakhs depends on the corporate decision. The LIC housing loan interest rates availed by the customers. The interest rate for 3 years is fixed and amount of Rs. 40lakhs is 10.70%. The interest rate above Rs. 40lakhs to Rs. 100lakhs is 11.00%.
Fixed Interest Rate for 10 years:
The interest rate changes according to the amount of the loan. The fixed interest rate for 10 years for an amount of Rs. 40lakhs is 10.95%. The interest rate greater than Rs. 40lakhs to Rs. 100lakhs is 11.20%. The loan amount greater than Rs. 100lakhs and less than Rs. 150lakhs are 11.50%.
Customers obtain flexible home loan to fulfil the milestone of dream home at lower processing fee. Home loan can be undertaken for construction, purchase, and renovation of home. The bank offers home loan IDBI bank home loan interest rate for Indian residents and Non-Indian residents. The tenure of home loan for Indians is 20 years and for NRI’s it is 10 years along with instant approval of loan amount. One can go for benefits upto 90% on submitting loan application to the bank. Customers can also apply for home loan online and the banker’s presence at doorsteps is an additional advantage to the customers along with Tax deduction. IDBI bank does not allow processing fee along with IDBI home loan interest rate. The details of the document are confidential and revealed only to the customer and nominee. Overdraft facility for home loan is the advantage for pensioners as it supports easy repayment of the loan amount. The interest rate of home loan from the IDBI bank is 10.25% for Rs. 1lac to 1.5crores.
Punjab National Bank offers home loan for normal about the age of 18 to 65 years with 25 years of tenure on loan amount and flexible variants above 50 years. There are no hidden charges for the customers after getting home loan from PNB home loan. Customers can avail loan amount upto 20% after submission of loan application on original document.
The PNB home loan interest rate depends on the pocket expenses of the individuals in specific cases as it is 20% for Rs. 20lacs and 25% for the individuals who avail home loan above Rs. 25lacs. Individuals should pay Rs.1350 as document charges. Individuals who draw home loan amount of Rs. 300lacs should pay 0.50% of the loan amount with an interest amount of Rs. 20000/- along with taxes. Home loans above Rs. 300lacs should pay Rs. 50000/- along with taxes.
Home loans fulfil the customers dream of own house with lowest EMIs. Customers prefer to choose SBI home loan interest rate is low depending upon the individual’s portfolio. The SBI home loan interest rate is 9.95% up to Rs 30lac at 0.25%. It is 10.10% for above Rs 30lac at 0.40%. Trust and transparency of the home loan documents made customers avail home loan. Individuals can pay an EMI in 995 instalments at an interest of 9.95% for 25 years. The EMI is from 9.95% to 10.10% for 15 to 20 years up to Rs 30lac with an increase in instalments.
Personal loan is necessary to build house, purchase, renovation, medical claims. These include travel expenses, Income tax liability and long distance tours. The Bank of Maharashtra home loans offers loans for both salaried and self-employed professional with a cut-off income of Rs. 3lakh per annum. One could be cautious about the loan tenure is 1 to 3 years with a loan limit up to Rs. 150000. The individuals who are interested to apply for Bank of Maharashtra home loan Interest Rate the details of interest rate for Rs. 30 to Rs. 75lacs for a period of 5 to 10 years is 11.25%. Individuals interested in taking loan from 5 to 20 years with the interest rates are 10.25 to 10.75%.
The third largest bank for the customers to complete the dream of own house is Bank of Baroda. One can get loan from Bank of Baroda home loan to purchase plot or land for house construction. Repayment period of home loan is up to 30 years. Customers can use 90% of amount on submitting the loan application, paid on the home loan amount for the requirement of the individuals.
The Bank of Baroda interest rate of the loan amount for Rs. 30lac to Rs. 75lac is 10.25% up to 5 years. The interest rate on home loan from BOB is same for 5 to 30 years. The EMI varies as per the loan amount. The Salaried employees pay 36 monthly instalments for Rs. 20000/- as monthly income. The individuals who avail Rs. 20000/- to Rs. 1lac should pay 48 instalments. Individual who draws monthly income more than Rs. 1lac should pay 54 instalments. The home loan for self-employed should pay 5 times on annual income and lasts up to 3 years.
Home loans are different for individuals depending on the portfolio. Customers who opt for a home loan up to Rs. 15lacs with an interest as 10.75%. The DHFL Home Loan Interest Rate is nominal for all the classes. The individuals claim for Rs. 15lacs to Rs. 30lacs with an interest of 11%. The interest rate is 11.50% for Rs. 31lac to Rs. 75lacs. The interest rate for Rs. 75lac and above is 12% with no processing fee. The prepayment charge for loan amount is 1%. The prepayment charge of home loan is same for both salaried and self-employed professionals. Both salaried and self-employed individuals can avail a home loan up to Rs. 50000000. The age limit for salaried employees is up to the retirement period from services. The age limit for business professionals is up to 65 years or retirement period which is earlier to the customer. The best feature of drawing home loan from DHFL Home Loan Interest Rate is Hassle free processing of documents.
The Funding on the loan amount is up to 85% of the cost of Property from ING Vysya Home Loan Interest Rate. The EMI is a flexible option for loan repayment on daily reducing balance method with the Maximum Loan Tenor up to 20 years. The customers are impressed by the loan Prepayment as there is no penality on loan repayment after 6 months of loan allotment. Attractive interest rates are the prime motto of the ING Vysya Home Loan Interest Rate. Customers are interested on the flexible Repayment options up to 20years from loan approval. The processing fee on loan amount is 0. 5% and service tax can be collected at the application submission.
Customers are bothered about the interest rates on home loans to apply for home loan. The ING Vysya Home Loan supports the individuals to clear the tension about the loan interest. The interest rate on loan amount up to Rs. 75lac is 10.25% and the interest rate is 10.75% for an amount above Rs. 75lacs and higher than that amount. The prepayment charge on the loan amount is 2%. The loan amount is availing charge as 2% on balance transfer for home loans. Hence, it is the time for the customers to avail home loan from the bank.
Among these banks most of the customers prefer to avail home loans from SBI, HDFC, and Bank of Baroda. These banks offer Home Loans with Interest Rate in India with lower EMI rates and enhance the customers to avail their dream house for a happy and successful life.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.