From State Bank Of India To HDFC: The Cheapest Home Loans Available
With the government's increased thrust on affordable housing, many large banks have reduced their interest rates on home loans this month to make your dream of owning a house more affordable. From State Bank of India (SBI) to ICICI Bank, many lenders cut their interest rates on home loans by 15-30 basis points (one basis point is equal to one hundredth of a percentage point) to 8.35 per cent this month. Here are some of the cheapest housing loans available for you.
SBI Home Loan @ 8.35%: State Bank of India, the country's largest lender, has reduced its interest rate on home loans up to Rs 30 lakh by 25 basis points to 8.35 per cent. SBI had said that the new rate of 8.35 per cent was the lowest in the market. Eligible borrowers can also avail an interest subsidy of Rs. 2.67 lakh under the Pradhan Mantri Awas Yojana scheme, which aims to provide subsidised housing loans to the middle income group. You can also transfer your existing home loans to SBI to avail lower rates. (Read: Transfer loan to SBI at zero processing fee)
ICICI Bank Home Loan @ 8.35%: India's largest private sector bank also reduced interest rates on home loans below Rs 30 lakh by 30 basis points to 8.35 per cent for salaried women and 8.4 per cent for other salaried borrowers. ICICI Bank offers these rates both under floating and fixed rates for 24/36 months.
HDFC Home Loan @ 8.35%: India's biggest mortgage lender now offers special rates of 8.35 per cent on home loans up to Rs 30 lakh for salaried women borrowers. For others, the interest rate will be 8.4 per cent. The "special offer" on home loans is available for a limited period ending on June 30, 2017 and first disbursement on or before July 31, 2017, HDFC said.
Axis Bank Home Loan @ 8.35%: With effect from May 16, Axis Bank has cut interest rates on home loans by about 30 basis points. Salaried borrowers can now avail home loans up to Rs 30 lakh from Axis Bank at an interest rate of 8.35 per cent. For self-employed people, the interest rates will be 8.4 per cent.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
