| Revised Interest Rate On Home Loans
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| | Buying the home of your dreams can be a daunting experience if you cannot arrange the cash. But with the option of home loans you don't have to worry any more. Various financial institutions offer loans for purchase of home or its renovation at a rate to suit you. This interest rate has been revised lately. There are two types of interest rate- Floating or Adjustable Rate Loans and Fixed Rate loan. | |
The banks offering home loans for twenty years and the rate they are offering is as follows:
- ICICI Bank is offering floating and adjustable rate loan at 8.75% and fixed rate loan at an interest of 9.50% for 20 years.
- IDBI Bank is giving floating and adjustable rate loan at 8.50% and fixed rate loan at an interest of 8.75%. Their Fixed Rate is resettable every 3 years.
- IDBI Bank is also giving another option in Fixed Rate loan at 9.00% that is resettable every 5 years.
- SBI (State Bank of India) is offering floating and adjustable rate loan at 9.25% and fixed rate loan at an interest of 9.50% available for a maximum of 10 years or resettable every 2 years.
The rates mentioned here are based on figures available publicly. Banks do make certain changes if you are taking a big amount as loan and your income is high and better credit profiles.
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| Please visit us at :- www.indiahousing.com |
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