With the Reserve Bank of India not raising interest rates in its latest review, several public sector banks are offering attractive home loan options. Let's take a look at which public sector banks offer home loans starting from 8.35 per cent for a loan of Rs 75 lakh with a tenure of 20 years.
Starting at 8.35 per cent, Union Bank of India and Bank of Maharashtra offer the lowest home loan interest rates. For a home loan of Rs 75 lakh with a tenure of 20 years, the monthly EMI will be Rs 64,376, making it the best option for those looking for lower repayment terms.
Six public sector banks - Bank of Baroda, Punjab National Bank, Indian Bank, Bank of India, Canara Bank and Indian Overseas Bank - are offering home loans at interest rates starting from 8.40 per cent. For a home loan of Rs 75 lakh with a tenure of 20 years, the monthly EMI will be around Rs 64,613.
UCO Bank and Central Bank of India offer home loans at an interest rate starting from 8.45 per cent. For a home loan of Rs 75 lakh with a tenure of 20 years, the monthly EMI will be around Rs 64,850.
State Bank of India (SBI), India's largest lender, offers home loans at an interest rate starting from 8.50 per cent. For a home loan of Rs 75 lakh with a tenure of 20 years, the monthly EMI will be around Rs 65,087.
The EMI calculations are based on a period of 20 years with zero processing and other charges. The interest rates and the corresponding EMIs are subject to change and may not reflect the current market situation.
