Home loans have made owning a home easy. One of the important aspect while considering a home loan is to compare the interest rates offered by different banks and lenders. The equated monthly instalment (EMI) that you will pay back to your lender every month after availing a loan is calculated including the interest on the outstanding loan amount and the principal. If you are considering taking a loan from India;’s top banks, here are the interest rates offered by them.
|Interest Rates on Home Loan|
|For Top 10 Banks By Market Capitalisation|
|EMI on Loans Up To Rs. 30 Lakh For 20 Year-Tenure|
|Lender’s Name||Floating Rate (%) based on MCLR||EMI (In Rs)|
|Bank Of Baroda||8.1-9.1||25280-27185|
|Punjab National Bank||7.95-8.45||25000-25940|
|Bank Of India||8.45-8.75||25940-26511|
|Compiled by BankBazaar.com via respective bank’s website as on 16 Oct 19.|
|Rates are based on the floating rates system. Interest rate may be subject to revision after a specified tenure depending on the bank’s T&Cs. The EMI range is indicative and calculated on the basis of interest rate range as provided in the table. In actual situation it may include other charges and fees as per bank’s T&Cs. The interest rate are for salaried individuals. Actual applicable interest rate may vary based on the credit profile of the loan applicant. Banks are listed in decending order of their market capaitalization value. Banks for which data is not available on their website are excluded from the list. |
*Rate as mentioned on bank’s website, subject to applicable t&C.
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