A home loan helps you in fulfilling your desire to own a house. Interest rate plays an important role in deciding the equated monthly instalment outgo. Therefore, whenever you take a loan, make sure to compare the interest rates of all the banks to bag the best deal. Many private and government lenders have revised their home loan rates recently and are offering loans below 7% interest rate. This makes it an opportune time to take a home loan to fulfil your aspiration of owning a property.
If you’re planning to take a home loan, here’s a list of the latest interest rates of private banks. Do note that the final interest rate for your loan would be decided after factoring in the property’s size and location, loan amount, income, age, gender, credit score etc.
Lowest Advertised Interest Rate
Kotak Mahindra Bank
Karur Vysya Bank
South Indian Bank
Tamilnad Mercantile Bank
Disclaimer: Data taken from respective websites on June 18, 2021. Data compiled by BankBazaar.com, an online marketplace for loans, credit cards and more.
Need help in calculating your EMIs? Use BankBazaar’s Easy Home Loan EMI Calculator.