Home Loan: Between the Corona epidemic and falling property prices, most banks have also reduced the interest rate of Home Loan. So if you are planning to buy a house, then this is the right opportunity. You can fulfill the dream of your home at this time.
Delhi: Everyone has a dream of their own home. If you are also planning to buy a house, then this news is of your great use. At this time, most of the banks have reduced the interest rate of home loan, this will get you home at a very affordable price.
Home loan and cheap
Kotak Mahindra Bank has further cut its interest rates. Kotak Mahindra Bank is offering home loans at the rate of only 6.75 percent which is the cheapest. Home loan can be applied through Kotak Digi Home Loan feature on the digital platform of Kotak Mahindra Bank. Information about how much interest rate will be on many loans will also be found online.
Home loan cheaper than SBIKotak Mahindra Bank’s interest rate is also cheaper than SBI. SBI is offering home loans at the rate of 6.8 percent whereas Kotak Mahindra Bank is saying that it will give home loans at the rate of 6.75 percent. Cheap home loan facility is available for both new and existing customers.
Kotak Digi Home Loan does a credit evaluation online and the applicant gets information about how much loan he can get according to his credit. Apart from this, information about the loan interest rate, loan term and EMI is given.
Other banks are not too far behind
All the major banks in the country have brought home loan interest rate down to below 7 percent. All banks are offering home loans at a floating rate below 7 percent. The big reason for this is that the Reserve Bank of India has kept the repo rate at a record low of 4%, due to which the bank is getting funds from the RBI at a lower interest rate and the same is now being shared by the bank customers. .
Take care of credit score too
The interest rate of your home loan also depends on the credit score. If your credit score is more than 800, then you can get a home loan at a much lower interest rate. Home loans also include credit risk margin. The interest rate of your home loan will also be decided based on the size and location of the property.
Apart from this, your age, income, credit score, loan amount, terms and conditions of the lending bank are also included, so if you have the necessary margin money, steady income and substantial savings, then you can also buy your house at low interest rates. Can.