Winning Bizness Desk
Mumbai. A few days ago, due to the increase in the repo of the Reserve Bank of India, the interest rates of home loans have become expensive. But in this festive season, many banks are offering cheap home loans to woo the customers. Currently, there are 5 such banks that have cut home loan rates during the Diwali season to take advantage of the opportunity. Let us see which banks they are and how much home loan has been made.
1) Bank of India:
Bank of India has also reduced its interest rates in the festive season. The bank's home loan rates are now starting from 8.30 percent. Also, the bank will no longer charge processing fees from customers taking home loans till December 31, 2022. This offer can be used to buy land, build a house, get a house repaired or buy a new house or apartment.
2) SBI Home Loan:
State Bank of India has cut home loan interest rates by 0.25 percent in the festive season. The bank is offering a discount of 0.15 percent on top up loan and 0.30 percent on loan against property. The bank has decided not to charge processing fees till January 2023. Now the bank's home loan interest rates are starting from 8.40 percent.
3) HDFC Bank Home Loan:
HDFC is also offering cheap home loans on Diwali. Home loans are being given at an 8.40 percent rate to people whose credit score is more than 750. This offer can be availed till November 30.
4) Bajaj Finance Home Loan:
Bajaj Housing Finance has brought a special offer for the salaried people and professionals on Diwali. The bank is now giving home loans to these people at an annual rate of 8.2 percent. This offer is valid from 14th October to 30th November for select locations only.
5) Bank Of Maharashtra Home Loan:
Bank of Maharashtra has also cut home loan interest rates by 30 to 70 basis points on festivals. The bank's home loan is starting from 8 percent.