Latest home loan rates

January 23, 2009	(1 votes, average: 5 out of 5)  Loading ...
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After a long and painful wait of about three to four years, banks and housing finance companies have finally started reducing the interest rates on housing loans following the economic stimulus package given to them by the Union government as well as several cuts in key policy rates by the Reserve Bank of India. Although the fall in lending rates is not as significant as cuts in policy rates, still something is always better than nothing. We are also not sure how long this party is going to last. Therefore, it is better to make hay while the sun shines.

List of latest home loan rates for your reference:

1) State Bank of India SBI’s Interest Rates On Housing Loans w.e.f. January 1, 2009FLOATING RATES LINKED TO SBAR:

a. For Loans Up To Rs 30 lakh For new loans up to Rs 30 lakh sanctioned on or after 01.01.2009, the bank is charging 9.75% pa for loans up to 5 years, 10% for loans above 5 years & up to 15 years, and 10.25% for loans above 15 years & up to 25 years.b. Loans Above Rs 30 Lakh and up to Rs 75 Lakh

For loans above Rs 30 lakh and up to Rs 75 lakh, the bank is charging 10.25% pa for loans up to 5 years, 10.50% pa for loans above 5 years and up to 15 years, and 10.75% for loans above 15 years & up to 25 years.c. Loans Above Rs 75 Lakh

For loans above Rs 75 lakh, the bank is charging 10.25% pa for loans up to 5 years, 10.50% pa for loans above 5 years and up to 15 years, and 11% for loans above 15 years & up to 25 years.FIXED RATES - RE-PAYMENT UP TO 10 YEARS (w.e.f. 01.01.2009)

a) For loans up to Rs 30 lakh: 11.25% b) For loans above Rs 30 lakh: 12.25%

News Published Under:   Home Loans |

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