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Home loans: Compare bank interest rates

Last Updated: Sunday, July 14, 2013 - 09:03

Zee Media Bureau

New Delhi: Buying your dream house requires a lot of research, more so when you opt for home loans.

It is very important for the home buyers to carefully choose banks and compare the rate of interest that the banks offer on home loans. Though the rate of interest differs from bank to bank, the tenure of loan is also different in various banks.

Let’s have a look at the interest rates on Home loan of some of the major banks of the country.

STATE BANK OF INDIA

Upto Rs. 30.00 lacs: 9.95% p.a.

Above Rs. 30.00 lacs: 10.10% p.a

State bank of India website mentions no fixed rate option in any limit bracket

PUNJAB NATIONAL BANK

(Floating Option)

Upto 5 years: 11.00% (Upto Rs 30 lac), 11.75% (Above 30 Lacs to

Above 5 & upto 15 yrs: 11.25% (Upto Rs 30 lac), 12.00% (Above 30 Lacs to

Above 15 & upto 25 yrs: 11.50% (Upto Rs 30 lac), 12.25% (Above 30 Lacs to

CORPORATION BANK

(Floating Rate)

For all Tenors
[Max. 30 Years]: Up to Rs.50 lakh (BR (10.25%)), Above Rs.50 lakh {BR+0.25% (10.50%)}

(Fixed Rate)
For all Tenors
[Max. 20 Years]:
Upto Rs.25 lakh (13.10%), Above Rs.25 lakh (13.60%)

AXIS BANK

(Floating Rate)

Less than Rs. 25 Lac: 10.75% p.a. (Effective Rate Of Interest)

Loans greater than Rs.25 lac - Rs. 75 lac: 11.00% p.a.(Effective Rate Of Interest)

Loans greater than Rs. 75 lac: 11.25% p.a (Effective Rate Of Interest)

Top Up - All loans, Renovations: 12.00% p.a.(Effective Rate Of Interest)

Fixed Rate

11.75% p.a.(Effective Rate Of Interest)

ICICI

(Floating rate)

HL 10.15% (Effective Rate of Interest)

HL > Rs. 3.0 million: 10.40% to 11.00% (Effective Rate of Interest)

(Fixed Rate)

One year & Two year (s) fixed rate:

HL 10.15% (Fixed rate for first 12/24 months), I-Base + 0.40% (Floating rate pricing from second & third year onwards (from 13th/25th month)

HL > Rs. 3.0 million and 10.40% (Fixed rate for first 12/24 months), I-Base + 0.65% (Floating rate pricing from second & third year onwards (from 13th/25th month)

HL 10.50% (Fixed rate for first 36 months), I-Base + 0.40% (Floating rate pricing from fourth year onwards (from 37th month)

HL > Rs. 3.0 million and 10.75% (Fixed rate for first 36 months), I-Base + 0.65% (Floating rate pricing from fourth year onwards (from 37th month)

Courtsey: Bank Websites, rates may vary from time to time

First Published: Saturday, July 13, 2013 - 19:26
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