Cheapest home loans: 10 banks that win the race this festive season - Moneycontrol
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The Reserve Bank of India’s (RBI) repo rate hikes since May 2022, including the 50 basis-point increase on September 30, may have restored pre-COVID-19 interest rate levels, but borrowers can still obtain home loans at less than 8.
All floating-rate home loans sanctioned after October 1, 2019 are linked to an external benchmark, which is repo rate in most cases.
7 percent, the non-banking financial company (NBFC) charges 20 bps more for such home loans.
Unlike banks, housing finance companies’ home loans are not linked to an external benchmark, but competition in the market ensures comparable, and in some cases cheaper, rates.
75 percent for home loans offered by this government-owned banking major.
This public sector housing finance giant, too, charges an interest of 8 percent on such home loans.
At 8 percent, Aditya Birla Housing Finance's offering is at par with those of bigger banking and housing finance majors.
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