Competitive Home Loan Rates and Providers in India
1. It is very important that one gets the most competent home loan rate else it will eat into an individual savings. The home loan rates from SBI is produced to avoid the hassles of contacting this bank as customer service has still a lot of room for improvement. The data is related to the interest Rates On Housing Loans w.e.f. January 1, 2009 and is valid for SBI home loan, however as a customer you can still haggle with provider to gat a rate which is in your interest. It is the right of every home loan seeker to get the best bargain and remember that it is the buyers market. It is my advice that all those who have not taken a home loan must take the same to get the best tax breaks.2. Below given are floating rates which is linked to SBAR:
(a) Loans Up To Rs 30 lakh:For new loans up to Rs 30 lakh sanctioned on or after 01.01.2009, the bank is charging 9.75% pa for loans up to 5 years, 10% for loans above 5 years & up to 15 years, and 10.25% for loans above 15 years & up to 25 years.
(b) Loans Above Rs 30 Lakh and up to Rs 75 Lakh:For loans above Rs 30 lakh and up to Rs 75 lakh, the bank is charging 10.25% pa for loans up to 5 years, 10.50% pa for loans above 5 years and up to 15 years, and 10.75% for loans above 15 years & up to 25 years.
(c) Loans Above Rs 75 Lakh: For loans above Rs 75 lakh, the bank is charging 10.25% pa for loans up to 5 years, 10.50% pa for loans above 5 years and up to 15 years, and 11% for loans above 15 years & up to 25 years.
(d) Fixed rate - Repayment upto 10 YEARS (w.e.f. 01.01.2009)
(i) For loans up to Rs 30 lakh: 11.25%
(ii)For loans above Rs 30 lakh: 12.25%
