New Delhi43 minutes ago
- Copy link
Many banks including SBI and Bank of Baroda have recently cut home loan interest rates. The home loan interest rate at Canara Bank is starting at 7.80%. At the same time, the interest rate of SBI starts at 8.00%.
In such a situation, if you are planning to buy a house these days and want to apply a loan for this, then it is very important to know that taking a loan from which bank can prove beneficial for you.
We are telling you about home loan interest rates of 10 such banks, which are offering loans at 8% or less interest.
Interest rates may decrease further in the coming days From June to Deepawali next month, the repo rate from RBI is fixed by 0.50%. According to officials associated with the case, the next meeting of RBI’s Monetary Policy Committee is to be held from June 4-6.
Earlier this year, RBI has cut interest rates by 0.25% -0.25% in February and April this year. That is, this year the repo rate has reduced by 0.50%. Due to this, banks have also reduced loan interest rates.
Keep these 3 things in mind while taking a home loan
1. Take information about pre-payment penalty Many banks impose penalty on paying loan ahead of time. In such a situation, take full details about this from banks, because banks get less interest as expected when they pay the loan ahead of time. In such a situation, some term adams are put on their behalf. Therefore, while taking a home loan, get complete information about this.
2. Take care of your CIBIL score The CIBIL score reveals a person’s credit history. In the case of personal loan, banks definitely see the civil score of the applicant. Credit score is decided by several special credit profiles.
It is seen that you have taken a loan before or how the credit card etc. has been used. Any person’s credit score shows the ratio of history, credit use ratio, existing loans and timely payment of bills. The score is in the range of 300-900, but the score of 700 or more consider the score of 700 or more.
3. Take care of offers Banks continue to provide better offers to those taking loans from time to time. In such a situation, you should find out about the offers of all banks before taking a loan. Because taking a loan in a hurry can prove to be wrong for you. Check properly before taking a loan.
Source link
[ad_3]
