- Many banks have cut their interest rates on home loans by 0.15%-0.30%
- SBI offers home loans up to Rs 30 lakh at interest rate of 8.35%
- New rate lowest in market, says State Bank of India
SBI Home Loan @ 8.35%: State Bank of India, the country's largest lender, has reduced its interest rate on home loans up to Rs 30 lakh by 25 basis points to 8.35 per cent. SBI had said that the new rate of 8.35 per cent was the lowest in the market. Eligible borrowers can also avail an interest subsidy of Rs. 2.67 lakh under the Pradhan Mantri Awas Yojana scheme, which aims to provide subsidised housing loans to the middle income group. You can also transfer your existing home loans to SBI to avail lower rates. (Read: Transfer loan to SBI at zero processing fee)
ICICI Bank Home Loan @ 8.35%: India's largest private sector bank also reduced interest rates on home loans below Rs 30 lakh by 30 basis points to 8.35 per cent for salaried women and 8.4 per cent for other salaried borrowers. ICICI Bank offers these rates both under floating and fixed rates for 24/36 months.
Axis Bank Home Loan @ 8.35%: With effect from May 16, Axis Bank has cut interest rates on home loans by about 30 basis points. Salaried borrowers can now avail home loans up to Rs 30 lakh from Axis Bank at an interest rate of 8.35 per cent. For self-employed people, the interest rates will be 8.4 per cent.
Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.