Home Loan: Nowadays, many people plan to buy a house. Recently, several banks have reduced their home loan interest rates, which makes it a great opportunity for those planning to purchase a house. In this article, we will talk about some banks that have lowered their home loan interest rates, making it a great time to apply for a loan.

Canara Bank’s Interest Rates

If you are planning to take a home loan from Canara Bank, they are offering an interest rate of 7.90% on home loans. However, this interest rate depends on your CIBIL score and other criteria. If your credit score is good and you meet all the loan requirements, you may receive an interest rate between 7.90% to 10.75%.

Indian Overseas Bank (IOB) Interest Rates

At Indian Overseas Bank (IOB), you can also apply for a loan with an interest rate of 7.90% if your CIBIL score is between 775 and 800 or higher. If your score is between 750 and 774, you will receive an interest rate of 8%.

Central Bank of India’s Home Loan Offer

The Central Bank of India is offering home loans under their “Cent Grih Lakshmi” scheme with an interest rate of 7.85% to 8.75%. This scheme particularly helps female applicants, especially if they are the sole applicant or the primary borrower. It is a great offer for women who are looking to buy a house with lower interest rates.

Union Bank of India Interest Rates

If your CIBIL score is good, Union Bank of India offers Loan at an interest rate between 7.85% and 10.25%. Depending on the terms and conditions, you can apply for this loan and enjoy a lower interest rate.

Bank of Maharashtra Interest Rates

Bank of Maharashtra also offers home loans at 7.85% interest. If your credit score is 800 or higher, you can avail of this lower interest rate. For salaried individuals, the interest rate ranges from 7.85% to 9.90%, while for non-salaried individuals, the interest rate ranges from 7.95% to 10.40%.

Conclusion

The recent reduction in loan interest rates is a fantastic opportunity for anyone looking to buy a house. Banks like Canara Bank, Indian Overseas Bank, Central Bank of India, Union Bank of India, and Bank of Maharashtra are offering lower interest rates on home loans. Before making a decision, it is important to check your CIBIL score and understand the terms of the loan to choose the best bank for you.

Now is the perfect time to take advantage of these lower interest rates and make your dream of owning a home come true

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