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Cholamandalam Investment and Finance Company (shortly known as Chola Finance), was established in 1978 and now has 167 branches across India. It provides different home loan products to its customers, including its employees with attractive features, to suit their varying budget requirements.
Cholamandalam Investment and Finance Company has been in existence since 1978. The company provides various home loan products for its customers including women at concessional rates of interest.
Cholamandalam Investment and Finance Company (Chola Finance) provides home loans ranging between 10% to 12% annually depending on various parameters like borrower’s credit score, repayment capability, loan amount and loan tenure.
Yes, keeping up with the reduction in home loan rates by top lenders, South Indian Bank also has lowered its home loan rate. Established during the Swadeshi movement, the South Indian Bank is one of the top banks in South India, especially in the state of Kerala. The changing market dynamics have led the South Indian Bank to reduce its home loan rates.
South Indian Bank home loan rates vary as per the loan amount sought by borrowers. For home loans of up to Rs. 25 lakhs, South Indian bank provides a home loan interest rate starting at 6.50%.
OBC bank home loan rate can vary as per the loan amount applied for. For a home loan of up to Rs. 25 lakhs, OBC bank offers interest rates starting from 6.50%. OBC bank increased interest rates on home loans by 0.4% on 01 Apr 2021. The historical home loan interest rate trend of OBC is as below
Oriental Bank of Commerce (OBC) offers home loans at competitive rates, currently set at 8.20%. The bank has interest rates on home loans starting at 8.25% p.a. and goes up to 8.80% p.a. The bank considers an applicant’s income before offering a final loan amount.
Bank of Maharashtra offers home loans at an interest rate of 8.2% to its employees. The bank’s home loan products are branded with the bank’s identity “Maha”. The home loans offered by the bank come with a host of features that attract numerous borrowers every year. Here are some of the noteworthy features
Bank of Maharashtra offers home loans at interest rates for women borrowers starts at 6.90% p.a. for a maximum loan tenure of 30 years. The bank’s home loan processing fee is up to 0.25% of the loan amount and a special discount of 0.05% on the interest is provided to women borrowers.
Bank of Maharashtra currently offers home loans to eligible customers at 7.05%. The bank also charges minimum processing fees of Rs. 2,000 on home loans. The maximum loan amount that can be availed is Rs. 30 lakhs while repayment tenure is set to a maximum of 30 years including an 18-month moratorium.
As per prevailing market trends, PNB Housing Finance has reduced home loan interest rates. The current home loan interest rates start from 7.35% and are one of the best home loan rates right now.
Edelweiss Home Loans are available to eligible borrowers who are either salaried or self-employed. Earnings, age, qualification, available assets, present debts, kind of business, income continuity, financial discipline, and savings history, among other things, are used to determine eligibility.
The current home loan interest rate at Karur Vysya Bank starts from 7.35%, with effect from 7th June 2021.
As of 01.11.2020, the interest rate on Union Bank of India home loans is at MCLR + 0.05% to MCLR + 0.50%. The effective rate starts at around 6.85%. Union Bank of India follows the below formula to determine your home loan interest rates
Current Central Bank of India Home Loan interest rates varies between 6.85% to 7.30%. The Central Bank of India follows the MCLR method to determine the interest rates on retail loans.
SBI is preferred for a home loan and HDFC bank is the preferred choice when it comes to personal banking. SBI is known for its low-interest rates whereas HDFC bank is the preferred choice when it comes to the quality of banking services.
State Bank of India home loans are preferred by millions of home buyers across India because of their attractive interest rates at 6.80% p.a. SBI also launched a concession offer of 70 bps on interest rates and zero processing fees on loans taken till 31st March 2021. The bank allows loan tenure to be extended for a maximum of 30 years so that customers can enjoy a comfortable repayment period.
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