BUSINESS

Which Are The Best Private Banks in India for Home Finance?

To get an affordable home finance first you need to choose a perfect lender. Many private banks in India are financing home for the customers. You can apply for a home loan from the best private banks in India for easy and hassle-free loan management. The interest in the loan amount is low and the repayment duration is flexible for the customers. Read this article to know the features of home loans by best private banks. 

 

List of the best private banks in India and their loan offers

 

If you apply for a home loan from the below-mentioned list of banks in India then you don’t have to worry about loan payments and interest. These banks provide the best in class services along with suitable offers. Look at the home loan features and their current rate of interest. 

 

Axis Bank: The bank gives home loans up to INR 5 crore or 80% of the property value. And the interest rate on the loan amount is based on the bank repo rate that is 5.15% currently. Axis Bank home loan effective interest rate ranges from 8.55% to 9.20%. The loan came with a repayment duration of 30 years. One can calculate the equated monthly installments using the bank online calculator tool. 

 

ICICI: You can borrow a loan amount for home financing from the best private banks in India ICICI Bank, it gives you loan up to INR 3 crore. And the ICICI bank home loan interest rate is fixed and floating you can opt according to your payment suitability. That means the interest rate is based on banks repo rate which is 5.15% and the ICICI home loan interest rate starts from 8.90%. 

 

Kotak Mahindra Bank:  You don’t have to pay any processing fee for your home loan application if you are applying for a loan from Kotak Mahindra Bank. Special interest rate for the women borrowers range from 8.60% to 9.25%. For the other applicants, the loan interest rate ranges from 8.65% to 9.30%. The Kotak home loan interest rate is based on the bank repo rate and it can be changeable if you opt for a floating rate of interest. 

 

Convenient services of best private banks in India for home loans? 

 

So till now, you know about the home loans of top private banks and their interest rate. But you not only get a lower interest rate, you also get access to various online tools and services. Yes, these best private banks in India give free access to eligibility and EMI calculators. Not only do these tools help you during the loan procedure but it makes your loan EMIs manageable. To make payment of the loan EMIs you can use ECs, auto-debit payment methods. As it helps in instant payment of the loan EMI without any delay. Now get a loan from these top private banks and finance your new home, renovate the existing property or construct a house.