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Home Loan Tips: If you are planning to take a home loan then contact these banks, you will get very low interest..

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Every person desires to have his own house. No one wants to live in a rented house. One has to become a tenant due to not having money to buy one's own house (cheapest home loan in India). Due to the high cost of property (The reason for property becoming expensive), nowadays a common man is not able to save enough money to buy a house. Home loans are helping people the most in fulfilling the dream of owning a house today.

All banks are providing home loan facilities to the customers (The reason for property becoming expensive). If you are also planning to take a home loan (home loan scheme), then you should first know about the home loan interest rates of all the banks. Currently, there are five big banks including Bank of Baroda, which are offering home loans at the cheapest rates (Home loan offers at affordable rates).

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According to the report, Bank of India (Bank of India Home Loan) is currently offering the cheapest home loan. The bank's interest rates start from 8.30% per annum. The bank provides loan amounts up to 90 percent of the property value for up to 30 years. The bank is also providing overdraft and home loan balance transfer facilities to home loan borrowers.

The country's largest private bank HDFC Bank can prove beneficial for you in terms of home loans. According to the report, HDFC Bank's interest rate for home loans ranging from Rs 30 lakh to Rs 75 lakh starts from 8.35 percent.

Bank of Baroda is currently charging equal interest from salaried and non-salaried people. This bank is charging annual interest ranging from 8.40 percent to 10.60 percent on home loans. Changes in interest rates are based on loan limits and CIBIL scores.

State Bank of India (SBI latest updates) is also currently offering cheap home loans (SBI Home Loan). The bank's home loan interest rates start from 8.40 percent per annum. You can take a loan from the bank for a period of up to 30 years. SBI also gives a concession of 0.05% in interest to women on taking a loan.

Punjab National Bank is also included in the list of banks offering cheap loans (PNB Home Loan). PNB is offering home loans ranging from Rs 30 lakh to Rs 75 lakh at an annual interest rate of 8.45 percent to 10.25 percent. Those with high CIBIL scores will get loans at lower rates.

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