Home Loan Rates: These 5 banks are offering the cheapest home loan, check interest rates here

5 Banks Offering Cheapest Home Loans

After the increase in the repo rate by the Reserve Bank, all the banks have increased the interest rates of loans. However, the home loan interest rates offered by all the banks are different. Here we are going to tell you about 5 such banks which are giving the cheapest home loan in comparison to other banks even after the loan is expensive.

Reserve Bank of India has increased the repo rate from 4.40 to 4.90 percent. RBI Governor Shaktikanta Das (Shaktikanta Das) had announced an increase of 50 basis points in the repo rate on 8 June. After this announcement of RBI, all the banks have also started increasing the interest rates of all types of loans. Although, after increasing the repo rate, all types of loans become expensive, but it will have a bad effect on the people taking home loans. In fact, the repayment of the home loan lasts much longer than the rest of the loan and its amount is also much higher.

Which bank is offering the cheapest home loan

After the increase in the repo rate by the Reserve Bank, all the banks have increased the interest rates of loans. However, the home loan interest rates offered by all the banks are different. Here we are going to tell you about 5 such banks which are giving the cheapest home loan in comparison to other banks even after the loan is expensive.

Bank

rllr

minimum interest rate ,Percent,

maximum interest rate ,Percent,

Bank Of Maharashtra

7.2%

6.8%

8.2%

Bank Of Baroda

6.9%

6.9%

8.25%

Union Bank of India

7.2%

6.9%

8.6%

Punjab And Sind Bank

6.6%

6.9%

7.75%

bank of india

7.25%

6.9%

8.6%

Source: ETIG

Bank of Maharashtra is offering cheapest home loan

All government banks are included in the 5 banks that offer home loans at the lowest interest rates. Bank of Maharashtra is offering the cheapest home loan at the lowest interest rates of 6.8 percent. Whereas Punjab and Sind Bank is providing affordable loans at 7.75 percent in maximum interest rates. Let us tell you that the interest rates of home loan vary depending on the loan amount and tenure.

Repo rate increased by 0.90 percent in 35 days

Let us inform that within 35 days, the Reserve Bank has increased the repo rate by 0.90 percent. On May 4, 2022, the RBI increased the repo rate by 40 basis points from 4 to 4.40 percent. After this, on June 8, RBI once again announced an increase in the repo rate. This time the Reserve Bank of India increased the repo rate by 50 basis points, due to which the repo rate increased from 4.40 percent to 4.90 percent.