New Delhi59 minutes ago
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LIC Housing Finance has cut loan interest rates by 0.25%. After this deduction, it has become cheaper to take all types of loans from SBI. Now SBI's home loan interest rates will start from 8% annually.
RBI has recently reduced the repo rate from 6.25% to 6.00%. After which banks have also started cutting the interest rates of FD and loan. Earlier, SBI had cut loan interest rates by 0.25%.
Home loan interest rates of 5 big banks of the country
| Bank | Interest rate |
| Bank of india | Starting at 7.90% |
| SBI | Starts at 8.00% |
| Punjab national bank | Starts at 8.50% |
| HDFC | Starts at 8.50% |
| ICICI | Starting at 9.00% |
Keep these 3 things in mind while taking a home loan
1. Get information about pre-payment penalty, many banks apply penalty to pay a 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.
