With the 2021 festive season on the horizon, several people are looking to use the auspicious month to make the once-in-a-lifetime purchase of a home.
Many leading banks in India have revised their home loan rates as we head into the 2021 festive season. Banks like State Bank of India (SBI), HDFC, Punjab National bank (PNB), Bank of Baroda (BoB), and Kotak Mahindra Bank have cut down their rates and also launched offers to attract buyers and make owning a home more affordable.
With lower interest rates, the festive season 2021 is the perfect time to avail a home loan and fulfill the dream to own a house. Here are the attractive loan rates on offer from some leading banks.
State Bank of India (SBI)
SBI is attracting loan aspirants with low interest rates of 6.70%. This is regardless of the amount of the loan. SBI has also announced waiver on loan processing fee.
While borrowers had to earlier pay an interest of 7.15% on loans above Rs 75 lakh, SBI has cut the interest rate to 6.70%. This means that those availing home loan offers will be able to save lakhs of rupees that would have to be paid as interest with earlier rates.
Punjab National Bank (PNB)
PNB is offering home loan interest rate from 6.80%. PNB has also waived all services charges, processing fees and documentation charges on retail products including home loans, vehicles loans, personal loans etc. PNB is also offering home loan top-up at enticingly low interest rate. PNB’s offers will run up till December 31, 2021.
HDFC
HDFC Home loans are available from 6.70%, regardless of loan amount or employment category of borrowers. The offer started from September 20, 2021. The rate will be according to the credit score of people applying for loan. The close-ended scheme can be availed up to October 31, 2021.
Kotak Mahindra Bank
Loans rates from private lender Kotak Mahindra Bank have been revised from 6.65% to 6.50%. Kotak’s festive season scheme will run from September 10 till November 8, 2021. As per Kotak Mahindra Bank, the special interest rate is “available across all loans amounts and is linked to a borrower’s credit profile.”
Bank of Baroda
Bank of Baroda has slashed its home and vehicle loan interest rates from 7% to 6.75% for the festive season. The bank is also offering a waiver on the loan processing fee.
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 "Leading banks offer attractive home loans for 2021 festive season - Check details")
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