Not SBI, this bank is offering cheapest interest rate on this loan - it is LESS than 7 per cent

SBI home loan is cheapest? Well, read this then. Here is great opportunity for those planning to buy their dream home. Currently, many banks have reduced interest rate on home loans to boost demand.

Not SBI, this bank is offering cheapest interest rate on this loan - it is LESS than 7 per cent
There are many banks which are offering loan at less than 7 per cent interest rate. This is an opportunity for those seeking cheaper interest rates to buy the house of their dream. Source: Pixabay
Reported By: ZeeBiz WebTeam
Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Thu, Jan 28, 2021
11:10 am
Patna, ZeeBiz WebDesk
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Not SBI, these banks are offering cheapest personal loan - Union Bank, PNB, Central Bank of India and more Not SBI, these banks are offering cheapest personal loan - Union Bank, PNB, Central Bank of India and more

SBI home loan is cheapest? Well, read this then. Here is great opportunity for those planning to buy their dream home. Currently, many banks have reduced interest rate on home loans to boost demand. There are many banks which are offering loan at less than 7 per cent interest rate. This is an opportunity for those seeking cheaper interest rates to buy the house of their dream.  We are presenting home loan offered by this bank which is offering interest rate lower than the State Bank of India.

Kotak Mahindra Bank home loan

Kotak Mahindra Bank recently cut its interest rate for home loans to 6.75%. This interest rate offered by Kotak Mahindra Bank is also the cheapest loan offered by any bank. Those planning to buy their home and want to avail this loan can do it by Kotak Digi Home Loan section on the bank's digital platform. How much interest rate will be charged on how much amount can also be checked online?

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Kotak Mahindra Bank home loan at 6.75% is even cheaper than the one offered by the State Bank of India (SBI). SBI is offering home loan at 6.8 per cent interest rate against Kotak Mahindra's 6.75%. This offer is valid for both new customers and existing customers of the bank.  
Kotak Digi Home Loan checks credit balance of the customer online and tells them how much loan they would get as per their credit score. This also inform customers about interest rate of the loan, tenure and EMI against the loan.  

Other banks also offering lucrative home loan offers

Most of the important banks of the country have brought down their interest rate on home loan below 7 per cent (floating rate). One major reason behind this is the Reserve Bank of India (RBI) has kept the repo rate under 4 per cent. This ensures that banks get funds on lower interest rate from the central bank, ultimately helping the customers.  
The above figures of the home loan have been gathered from bankbazaar.com (January 15).  
 

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