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Home loan banks include- Allahabad Bank, Andhra Bank, Axis bank, bank of Baroda, bank of India, bank of Maharashtra, canara bank, central bank of India, Citibank, corporation bank, Dena bank, deutsche bank, DHFL, HDFC, ICICI bank, IDBI, ING vysya, LIC housing, Oriental bank of commerce, Punjab National bank, SBI bank, standard chartered, UCO bank, Union bank of India, United bank of India, Vijaya bank.
Home loans banks primarily classified loans as fixed and floating one, although the price of fixed rates do vary from one person to another due to prevailing market conditions and several other factors. On an average home loan interest rate varies between 10 -15% percent for a term of 5-20 years based on borrowed sum. But it’s totally up to you to choose the one that best suits your need and affordability and your repaying ability say from a bank providing Rs. 5 lakh as loan for a term of 5 years charging 9% interest, while there is another bank that issues same amount of money at, 12% interest rate for 3 years.
Several other costs are associated with the home loans apart from the interest rate and EMI; these include processing fee, administration fee, evaluation fee, legal fee that is to be paid at the time of application. Also it is required to deposit valuable assets against the interest. Do check that the bank does not include any hidden cost which later on proves troublesome for you.
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Home Loans
