New Delhi: If you are looking to have your dream home this Diwali, there are a number of banks offering lucrative home loan deals. State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, Bank of Baroda, Bank of India and Kotak Mahindra Bank offer low interest rates and reduced processing fees.Also Read – WATCH: COVID Standards Go Against Sarojini Nagar Market Flooded With Buyers Before Diwali
Bank Canara mortgage interest rate
- Canara Bank offers a home loan at an interest rate of 6.90 percent. Other than that, the bank has no processing fees and instant approval.
- “Be a proud owner! This holiday season benefits from the best deals on Canara Home Loan with lower interest rates and ZERO documentation and processing fees. Apply now and get instant approval, ”Canara Bank said.
- “Limited time Canara Home Loan offer with 6.90 percent interest rate.” processing fees, documentation fees and upfront fees have been waived, ”the bank said in a tweet.
GNP mortgage interest rate
The Punjab National Bank home loan starts at an interest rate of 6.60 percent. Apart from that, PNB announced a 100% waiver of upfront or processing fees and documentation fees. Also Read – Shop Online, Avoid Travel: Center Issues COVID Advisory to States Ahead of Festivals
Bank of Baroda mortgage interest rate
- Bank of Baroda announced a 25 basis point cut in its mortgage rates from 6.75% to 6.50%.
- “With the start of the holiday season and to make home buying more affordable for customers, the Bank has extended this offer and the special rate will be available until December 31, 2021,” Bank of Baroda said. .
- The new rates will be available to clients applying for new loans, a loan transfer or looking to refinance their existing loans, making the offer more inclusive. A zero processing fee on the home loan was already offered and was extended until December 31.
Bank of India Mortgage Interest Rate
- As part of the festive offers, Bank of India announced a 35 basis point (bps) cut in interest rates on home loans and a 50 basis point cut in interest rates on auto loans, according to the IANS report.
- With the fall, the minimum rate for these loans now starts at 6.5% against 6.85% on mortgage loans and 6.85% against 7.35% previously on car loans.
- This special rate will be until December 31st. It will be available for clients applying for new loans and also for those looking for loan transfer.
- The bank has also waived the processing fee for both types of loans until the offer period in order to make it more attractive to customers.
Kotak Mahindra mortgage interest rate
- Kotak Mahindra Bank Ltd announced the reduction in interest rates on its home loans by 15 basis points to 6.50 percent. This special 6.50 percent per year rate is a limited offer for the holiday season until November 8, 2021.
- The reduced rate would be available for all loan amounts and is tied to the borrower’s credit profile. The revised rate would apply to both new home loans and balance transfer loans, according to the IANS report.
SBI mortgage interest rate
- The main state bank of India (SBI) has launched home loans tied to the credit rating at 6.70% regardless of the amount. Before the festive offer, a borrower with a loan greater than Rs 75 lakh had to pay an interest rate of 7.15%.
- With the introduction of the festive offers, a borrower can now qualify for a home loan for any amount at a rate as low as 6.70%, SBI said.
- “The offer results in a saving of 45 basis points, which translates into a huge interest savings of over Rs 8 lakh, for a loan of Rs 75 lakh with a term of 30 years,” said SBI, according to the IANS report.
- In addition, the SBI removed the distinction between a salaried borrower and a non-salaried borrower, according to the IANS report.
Also Read – Latest IRCTC News: Railways Announce Special Trains For Festival Before Diwali, Chhath Puja | Full list here