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Diwali Home Loan Offer: Check Best Interest Rates From These Banks

26 October 2021

New Delhi: If you are seeking to have your dream home in this Diwali, a number of Banks are offering lucrative offers on Housing Loan. State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, Bank of Baroda, Bank of India, and Kotak Mahindra Bank are low interest rates and discount in processing fees.

Canara Bank Home Loan Interest Rate

Canara Bank is offering home loan at an interest rate of 6.90 per cent. Apart from this, the bank is zero processing fees and instant approval.
"Be a proud Home Owner! This festive season avail best offers on Canara Home Loan with lower interest rates and NIL documentation and processing charges. Apply Now and Get Instant Approval," Canara Bank said.
"Limited Period offer Canara Home Loan rate of interest of 6.90 per cent. processing charges, documentation charges and upfront waived off," the bank said in a tweet.

PNB Home Loan Interest Rate

Punjab National Bank's Home Loan is starting at 6.60 per cent interest rate. Apart from this, PNB has announced 100 per cent waiver of upfront or processing fees and documentation charges.

Bank of Baroda Home Loan Interest Rate

Bank of Baroda has announced reduction of 25 bps in its home loan rates from 6.75 per cent to 6.50 per cent.
"With the onset of festive season and to make home buying more affordable for customers, the Bank has extended this offer and the special rate will be available till December 31, 2021," Bank of Baroda stated.
The new rates will be available for customers applying for fresh loans, loan transfer or looking to refinance their existing loans making the offer more inclusive. Nil processing fee on home loan was already on offer and has been extended till December 31.

Bank of India Home Loan Interest Rate

As a part of festive offers, Bank of India has announced a 35 basis point (bps) reduction in its home loan interest rates and a 50 basis points in vehicle loan interest rates, as per IANS report.
With the cut, the minimum rate on these loans now starts at 6.5 per cent against 6.85 per cent on home loans and 6.85 per cent against 7.35 per cent earlier on vehicle loans.
This special rate will be till December 31. It will be available for customers applying for fresh loans and also for those seeking transfer of loans.
The bank has also waived processing charges for both types of loans till the period of the offer to make it more attractive for customers.

Kotak Mahindra Home Loan Interest Rate

Kotak Mahindra Bank Ltd has announced the reduction of its home loan interest rates by 15 bps to 6.50 per cent. This special rate of 6.50 per cent per annum is a limited period festive season offer till November 8, 2021.
The reduced rate would be available across all loan amounts and is linked to a borrower's credit profile. The revised rate would be applicable on both fresh home loans and balance transfer loans, as per IANS report.

SBI Home Loan Interest Rate

Lending major State Bank of India (SBI) launched credit score-linked home loans at 6.70 per cent, irrespective of the amount.
Prior to the festive offer, a borrower availing a loan greater than Rs 75 lakh had to pay an interest rate of 7.15 per cent.
With the introduction of the festive offers, a borrower can now avail home loan for any amount at a rate as low as 6.70 per cent, SBI stated.
"The offer results in a saving of 45 bps which translates to a huge interest saving of more than Rs 8 lakh, for a Rs 75 lakh loan with a 30 year tenure," SBI stated, according to IANS report.
Besides, the SBI has removed the distinction between a salaried and a non-salaried borrower, as per IANS report.

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Source: www.msn.com