How long have you been living in a rented house in your work town? Tired of shifting from home? Why not buy your own dream house, when so many banks are ready to give you the best home loan according to your personal needs? You just need some savings for the down payment. Most leading private and public sector banks usually provide financing up to 75-90% of the value of the property, allowing you to buy your dream home. When many banks offer you attractive home loans, it is expected to be bad for choice. Many banks offer attractive interest rates for the benefit of home buyers, subject to terms and conditions. Home loan interest rates are usually applied as fixed or floating types.
State Bank of India Home Loan
If the property you intend to buy gets a loan approved by SBI, be assured that the property papers are valid and you will not face any legal trouble in the future, as SBI has the most stringent asset verification measures. The bank provides loans for home buying, house construction, home renovation as well as top-up home loans. SBI offers only floating rate loan and SBI Maxgain loan. Interest rates are usually at lower limits than other lenders. The daily balance on interest is subtracted, that is, the principal is recalculated at the end of each day and the interest is charged accordingly. If you pay today, the interest on your loan reduces from the next day.
ICICI Bank Extra Home Loan
They are known for their simplified documentation process, early approval and competitive interest rates. They provide loans for home purchase, house construction, home renovation as well as top-up home loans. ICICI offers both fixed rate and floating rate home loans for property. Interest is charged on the monthly balance, that is, the principal is calculated at the end of every month and interest is charged accordingly. If you pay a part today, the interest on your loan decreases from the first of the following month.
Axis Bank Home Loan
Axis Bank Home Loan leads the list of Best Home Loans. Axis Bank offers home loans for shopping, construction as well as top up loans. The minimum amount offered by this bank is 3 lakhs. The minimum loan amount is 3 lakhs. Fast forward home loan facility where you can increase EMI and also stop paying EMI for few months. No prepayment fees and attractive interest rates. Axis Bank’s interest rate is competitive. However, to avail this loan you will have to pay higher processing fees and other fees.
Bank of Baroda Home Loan
Bank of Baroda offers home loans at very competitive rates. Bank of Baroda offers various types of home loans such as home improvement loan, home facility personal loan, Baroda top up loan etc. Interest rate offered by this bank is 8.65-11.25% and maximum tenure is 30 years.