Lowest Interest Rates On Home Loan

Home Loan Interest Rate :

              Variable interest rate loan is a loan in which the interest rate charged on the outstanding balance varies as market interest rates change. When a loan is fixed for its entire term, it will be fixed at the then prevailing market interest rate, plus or minus a spread that is unique to the borrower.

               It is not possible to give the name of bank which charges the lowest interest rates for all tenures and all levels of loan amount. Moreover, these interest rates are randomly changed by banks and that too without informing media.  Sometimes the details are not even updated on the website or they are so confusing that it becomes impossible to decipher the details. Therefore, we are giving below a broad idea as to the banks  which are charging lowest interest rate in a particular loan.  Readers are advised to check the same by clicking on the link of relevant bank from where they intend to avail the loan.

              The best way to find the lowest interest rates on home loan  is by comparing the interest rates of all the renowned financial institutions in India. You will find many online portals where it is mentioned clearly the interest rate offered by all banks and NBFCs. Or you can do the comparative analysis by your own. This will help you to give a clear picture which lender will be the most beneficial for you.

The current rates of interest offered by all banks and NBFCs
• State Bank of India- 9.55% to 10%
• ICICI Bank- 9.55%
• Canara Bank- 9.65%
• Axis Bank- 9.60% to 11.75%
• L&T Housing Finance- 9.65% to 10.50%
• LIC Housing- 9.60%
• Bajaj Finserv- 9.40%- 9.50%

It is quite clear that NBFCs offer loans at cheaper rate of interest than any other financial institutions.
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