Top 10 Best Lowest Interest Rate On Home Loans: If you thought about buying a home in Loan Money. So, Today our team found the best Bank List that Provides you with a home loan in Low Interest Rate. We Have Found a List of Best Banks that Provide Home Loan in Low Interest Rates. Many Times Home Loan Depends Upon the Credit History and Income Source. Now, We will talk about the Best 10 Home Loan Interest Rates in India in 2023 and also For the 2024.
Top 10 Best Bank for the Home Loans
| Name Of The Bank | Interest Rate | Fees and More |
| Karur Vysya Bank | 7% to 8% | Upto 1% Processing Fees |
| Central Bank of India | 8.35% to 9% | Half Percent (0.50) Fees |
| State Bank Of India | 8% To 9% | Processing Fees is Very Low (0.10-0.30%) |
| LIC Housing Finance | Up To 8.50% | Less Than 0.50 |
| Bank of Baroda | Less Than 8.80% | More Than 0.50% |
| Union Bank of India | Less Than 9% | More Than 0.50% |
| IDFC First Bank | Less Than 9% | It May Be High Fees 3% |
| HDFC Home Loans | Less Than 8.50% | Less Than 0.10% |
| Canara Bank | More Than 9% to 10% | Less than 1% |
| Kotak Mahindra Bank | Less Than 10% | Processing Fees is High (2%). |
Interest on Home Loan Depends on These Factors
Home Loan Interest depends on the Mainly 4 Factors. Sometimes home loan interest is very high due to these factors and also sometimes the interest rate is low if Factors are good.
Credit Score
Home Loan or any Other Loan Like Personal Loan or any other mainly it depends on the credit score. Your credit score defines whether you get a loan or not. If we talk about the credit score 650 is a good credit score and 750 or above is the best. if Your score is greater than 750 Definitely you get a loan from any private sector or government sector Banks.
Income Source and Job
If You have a Confirm Income Source Like., (Government Job, Permanent Job, Private Permanent Job) You confirm Get Loan from any banks in Low Interest Rates. You have only required a Salary Slip and Job Letter to Confirm.
Loan Amount
Loan Amount is a Main Factor in Home Loans. Up To 30 Lakh Amount Interest Rate is Generally Low as Compared to More than 30 Lakh Loan Amount.
Interest on Men and Women
Generally Due to Indian Government Scheme and Policies, Government and Private Banks give Loan to Women in Low Interest Rate as compared to Men, But House Owners Will be Women who get a Loan.
FAQ
- Do Women Get Loan in Low Interest as Compared to Men ?
Answer: Yes, Sometimes Women Get Loan in Low Interest Rates.
- Does Government Bank is the Best Option as Compared to Private Banks ?
Answer: Yes, Because of Low Interest Rate and Service.
- Is SBI is the Best Option for Home Loan ?
Yes, It is a Government Bank.
- Does LIC the Best Option for Home Loan ?
Answer: Yes.
- Can we Get Home Loan at 7% Interest Rate ?
Answer: Definitely Yes, Depends on The Bank and your Credit Score.