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Home Loan Interest rates

Last updated: June 7 2012
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  • Home Loan Interest rates

    Any idea which bank is offering lowest home loan interest rate?
  • #2

    #2

    Re : Home Loan Interest rates

    Originally posted by nilesh_phalke View Post
    Any idea which bank is offering lowest home loan interest rate?
    can i get through out fix interest rate for 15-20 years from any bank?

    Comment

    • #3

      #3

      Re : Home Loan Interest rates

      Please enquire in bank of baroda ,

      they have very good folating rates 8.75 (8.5 for customers mantaining 1 lakh quarterly balance in S/B) ...about fixed, I think they are offering 10% not sure.

      Comment

      • #4

        #4

        Re : Home Loan Interest rates

        Originally posted by nilesh_phalke View Post
        can i get through out fix interest rate for 15-20 years from any bank?
        I don't think so. I will suggest u to go for floating as rates will be stable or may go down.

        Comment

        • #5

          #5

          Re : Home Loan Interest rates

          SBI has indicated that there would be 100 bps point hike in Sept 09.
          If you are happy, you are successful.

          Comment

          • #6

            #6

            Re : Home Loan Interest rates

            Not very sure about the lowest interest rate, but Bank of Baroda is providing a home loan 8.75% for a tenure of 15 years and if you have a Quarterly Average Balance 1 Lac then 0.25% less, If you get your loan processed before 15th August then no processing charges. Fixed interest rates are 1% more then the floating rates and will change every 3 years.
            SBI has come up with a new plan as well - 1st year 8% 2nd and 3rd year 9% and from the 4th year whatever is the Floating rate applicable.
            LIC Hsg Finance also has an interest rate of 8.75%.

            I would suggest that get your loan processed from a Nationalised bank for the checks they carry out for a property. Although painful an requires a lot of follow up but still lot better then any of the private banks in the longer run.

            Comment

            • #7

              #7

              Re : Home Loan Interest rates

              There is no such thing like fixed rate.Even though we call it as fixed rate they are not fixed.If you read the loan agreement carefully,Banks have mentioned that they can review the fixed interest rate after 3-5 years regularly.No one can predict interest rate for next 15-20 years so Banks also don't guarantee fixed rate for such a long period.
              Last edited by vcool; July 22 2009, 02:36 PM. Reason: spellig mistakes

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              • #8

                #8

                Re : Home Loan Interest rates

                Factors that influence your loan rate.

                Originally posted by nilesh_phalke View Post
                Any idea which bank is offering lowest home loan interest rate?
                It all depends as interest rates are nego. It is based on your income & the amount of loan you are opting for, it's tenure, your relationship with the bank, company or salary account in the bank, previous credit history (you are star rated for all loans you have opted for till date irrespective of bank & type of loan) etc.

                Generally, PSU Banks have lower interest rates but getting one is hassling compared to private ones. In PSU, personally I prefer Bank Of Baroda.

                * Don't opt for ICICI under any circumstances.
                If you are happy, you are successful.

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                • #9

                  #9

                  Re : Home Loan Interest rates

                  realacres, do u have a relative in Bank of Baroda??They dont even come to pick up your documents in 7 days. They give a time of pick up after 7 days..reason: all their executives are busy. Most horrible customer care.very bad experience. guyss check out with realacres may be he can help u with Bank of Baroda!!

                  Comment

                  • #10

                    #10

                    Re : Home Loan Interest rates

                    Originally posted by 1001acres View Post
                    realacres, do u have a relative in Bank of Baroda??They dont even come to pick up your documents in 7 days. They give a time of pick up after 7 days..reason: all their executives are busy. Most horrible customer care.very bad experience. guyss check out with realacres may be he can help u with Bank of Baroda!!
                    Hey, I said before, working with PSU can be hassling initially. Btw, you are right in other case, some of the most senior people in BoB are my neigbours & we have old relationship with that bank. There are also various types of accounts. If you do have a special account in their bank like 'Priority in Axis' or 'Premier in HSBC' everything changes.

                    So, again it all depends between you & the bank.
                    If you are happy, you are successful.

                    Comment

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