Home loan: These are the interest rates charged by 5 major banks

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financial goals, so on and so forth. However, before one decides to raise a home loan to buy his own abode, one is expected to compare the interest rates offered by different lenders in order to take a calculated decision. Most banks are currently offering home loans at marginally lower interest rates than the regular ones.

To make your decision become more convenient, we have given an objective comparison of the interest rates charged by different lenders. These are the interest rates charged by top lenders: State Bank of India (SBI): The state lender charges an interest rate that varies between 8.6 percent and 9.65 percent based on the applicant’s credit score. The lowest interest rate is 8.6 percent for the borrowers with a credit score of more than 750.

The borrowers with a credit score between 700 and 749 are given loans at an interest rate of 8.7 percent. The borrowers with score of 650 to 699 are offered loans at 9.45 percent and those with score in the range of 550 to 649 can avail home loans at 9.65 percent. Bank of Baroda (BoB): Bank of Baroda offers home loans to borrowers at an interest rate that varies between 8.40 and 10.60 percent.

The exact interest rates are based on loan limit and credit score of applicants. These rates are applicable to both salaried and non-salaried persons. Punjab National Bank (PNB): The state lender offers home loans at an interest that varies between 8.40 and 10.10 percent per annum.

The exact interest rate is based on the LTV (loan to value) ratio, loan amount and credit score. Higher the LTV ratio, higher the interest, and higher the credit score, lower the interest rate. HDFC Bank: The largest private lender HDFC Bank is offering home loans at special interest rates that vary