Plan to buy a house? These 10 banks are giving the cheapest home loan, decide by looking at EMI

Everyone dreams of buying their house. It is one of the biggest and important decisions of life. Most people resort to home loans to turn this dream into reality. But this is where the biggest confusion starts – from which bank take a loan? Who is giving loans at the lowest interest rate?

This confusion is also justified, because even a slight difference in the interest rate can have a big impact on your pocket. The home loan is for a long period of 20-30 years, in such a situation, a difference of 0.5% can also save you millions of rupees.

If you are also planning to take a home loan of Rs 50 lakhs for 20 years, then we have brought for you the interest rates of 10 banks and complete information about EMI, so that you can choose the best option for yourself.

How much EMI will be in which bank? (₹ 50 lakh loans, 20 years period)

Here we are giving a list of banks that are currently offering home loans at the most attractive interest rates:

• Your EMI will be made: ₹ 42,757

1. Bank of Maharashtra (Bank of Maharashtra)
   • Your EMI will be made: ₹ 42,918
2. Union Bank of India
   • Your EMI will be made: ₹ 42,918
3. Central Bank of India
   • Your EMI will be made: ₹ 43,080
4. Indian Overseas Bank
   • Your EMI will be made: ₹ 43,080
5. Punjab National Bank (Punjab National Bank)
   • Your EMI will be made: ₹ 43,242
6. HDFC Bank (HDFC Bank)
   • Your EMI will be made: ₹ 43,567
7. ICICI Bank
   • Your EMI will be made: ₹ 43,731
8. State Bank of India (SBI)
   • Your EMI will be made: ₹ 43,731
9. Bank of Baroda (Bank of Baroda)
   • Your EMI will be made: ₹ 43,896

(Note: These interest rates are floating and can change according to the conditions of the bank.)

Take special care of these things before taking a loan

• Processing fees and other charges: Do not just look at the interest rate. Take complete information about processing fees, administrative charge and pre-payment fee while taking the loan.
• Build with bank: If your credit score is good and your financial profile is strong, then you can also negotiate for a better interest rate from the bank.

A sensible decision and a little research will help you to buy your dream house as well as save millions of rupees.