If you are planning to take a home loan, then first of all check the home interest rates that which bank is offering loans at cheaper interest rates. Many big banks of the country give home loans. Apart from banks, many non-banking finance companies (NBFCs) provide home loans to customers, however, NBFCs are not allowed to accept deposits. The loan can be taken for the purchase, development or repair of a house or piece of land. Before that take a look at the biggest housing finance companies like LIC, HDFC and PNB Housing and their new home loan interest rates.
As per the website of LIC Housing, the Prime Lending Rate (LHPLR) is 17.05% and the ROI is updated as on 01.05.2023. New home loan interest rates will now start from 8.45%. The maximum payback period for salaried individuals is 30 years. The maximum payback period for self-employed is up to 25 years.
Home loan interest rates start from 8.45% for loans up to Rs 2 crore for salaried and professional customers with a credit score equal to or above 750. For salaried and professional individuals with credit score between 700-749, the interest rate will be 9.30% up to 5 cr and 9.50% and above Rs 5 cr and up to 15 cr. For CIBIL score between 600-699, the interest rate will be 9.55% for amounts up to Rs.50 Lakhs, 9.75% for amounts above Rs.50 Lakhs and up to 2 Crores, and for amounts above 2 Crores and up to 15 Crores 9.90% interest rate is offered.
hdfc home loan rates
HDFC Retail Prime Lending Rate is 18.55%. HDFC’s Adjustable Home Loan interest rates are linked to HDFC’s Bench Mark Rate (RPLR) and keep on changing throughout the tenure of the loan. HDFC Limited offers home loan interest rates between 8.50 – 9.00% p.a. Special home loan rates for salaried and self-employed.
According to the HDFC Ltd website, the housing company will charge an interest rate between 8.70 – 9.60% per annum to customers opting for the Standard Home Loan rates for Professionals and Non-Professionals.
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pnb home loan rates
Home loans are available for salaried employees and self-employed individuals from PNB Housing. All home loan interest rates offered by PNB Housing are subject to change and may differ depending on your credit score
interest rate for higher amount
For salaried employees with a credit score of 825 or above, the interest rate on home loans above Rs 35 lakh ranges from 8.75% to 9.25%. Individuals with a credit score ranging from 800 to 825 are eligible for an interest rate ranging between 8.75% to 9.25%, while those with a credit score ranging from 775 to 799 are eligible for an interest rate ranging between 9.20% to 9.70%. PNB Housing offers home loan interest rates ranging from 9.35% to 9.85% for individuals with a credit score of 750 to 775.