Home Loan: Is your CIBIL score fantastic? So these 5 government banks are giving the cheapest home
Ever since the Reserve Bank of India (RBI) has cut its policy interest rate ie repo rate by 0.50%, banks have also reduced the rate of home loan. If you are also planning to take a home loan, then you can get this even at the cheapest rate. The country’s legendary government banks are providing home loans at the cheapest rate. However, your CIBIL score should be extremely strong for this. The bank takes the final decision to fix the interest rate on home loans. Let us discuss the home loans of 5 public sector banks, which is available at the lowest interest rate.
Union bank of india
You can consider the home loan of the public sector Union Bank of India. Here the bank is offering a home loan at an initial interest rate of just 7.35 percent. Talking about processing fees, you will have to pay 0.50%of the loan amount, maximum Rs 15,000 + GST.
Central bank of india
You can also apply for home loans at an initial rate of 7.35 percent from Central Bank of India, the leading Central Bank of India in public sector banks. If your CIBIL score is 800 or more then it will be quite easy to get a home loan at the cheapest interest rate. As a processing fee for this loan, you will have to pay a maximum of Rs 20,000 + GST of 0.50% of the loan amount.
Bank of Maharashtra
As a government bank, Bank of Maharashtra is also giving home loan at an initial interest rate of 7.35 percent these days. The bank is also offering an additional discount of 0.05 percent on home loans to women and defense personal. The bank says that the customer who takes a home loan will get a discount in the event of taking a car and education loan.
Canra bank
Public sector veteran Canara Bank is also offering home loans at a cheaper rate. From this bank, you can take a home loan at an initial interest rate of just 7.40 percent. In applying for home loan from here, 0.50% (minimum Rs .10,000 + GST) will have to be paid as processing fees (minimum Rs .10,000 + GST).
state Bank of India
State Bank of India, the country’s largest bank, is currently offering a home loan at an initial rate of 7.50 percent. 0.35% + GST will have to be paid as a processing fee
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