Publish Date: | Thu, 03 Mar 2022 10:53 AM (IST)
Home Loan Rates: If you are thinking of buying a house, then this is a good opportunity for you. Many private banks are offering cheap home loans. At present, home loans are available at very low interest rates. At the same time, many big banks are giving loans at an initial rate of 6.4-6.6 percent. In such a situation, you can fulfill the dream of a house by taking a loan at a low rate. Explain that the interest rate also depends on the CIBIL score. So always keep your CIBIL score good. Let us see which banks are providing the lowest interest rate home loan.
Bank of Maharashtra
Bank of Maharashtra is offering home loan with minimum rate of 6.4% and maximum of 7.8%. If your CIBIL score is maintained. Then you will get a home loan from the bank at a lower rate.
Bank Of Baroda
This bank is offering home loans at an RLAR of 6.5%. Bank of Baroda is offering loan for home purchase at an interest rate of minimum 6.5 per cent and maximum 7.85 per cent.
Kotak Mahindra Bank
Kotak Mahindra Bank is offering Home Loan at RLAR of 6.50%. It is a big private sector bank.
Bank of India
Bank of India is offering Home Loan at RLAR of 6.85%. The bank is offering the loan with a minimum rate of 6.5% and a maximum rate of 8.2%.
Union Bank of India
Union Bank of India is offering Home Loan at Repo Linked Lending Rate of 6.8%. The bank is offering home loan to the customers with a minimum rate of 6.4 percent and a maximum rate of 7.25 percent.
How to increase your CIBIL score
– Pay your phone, water, electricity, credit card bills or other liabilities on time. Also pay on time.
If there is a joint account, keep an eye on it. If your partner did not pay the dues on time and you default. This results in a bad CIBIL score.
– View CIBIL report every four months. By looking at the credit history, you will be able to know whether all the payments are maintained or not.
Do not apply for getting loan and credit card at multiple places at the same time. At the same time, you should not check your CIBIL score again and again.
Posted By: Sandeep Chourey