Planning to buy a house? These 5 banks are giving loans at affordable rates

Cheapest Home Loan: After the increase in the repo rate by the Reserve Bank, banks have increased the interest rate of their loans many times, due to which it has become expensive to take a loan to buy a house (Home Loan Interest Rate). HDFC, SBI, ICICI, Bank of Baroda, PNB and other banks have increased the home loan interest rates (Home Loan Interest Rate Hike). Apart from this, the interest of home loans has also been increased by finance banks.

If you are also planning to take a home loan (Buy a Home Loan) and want to take a home loan, then here is information about home loan interest of 5 banks, under which you can get a cheap home loan. Home Loan) can be taken. These five banks are providing loans at low interest as compared to other banks.

Cheap loan is available in these five banks

• The RLLR of Karur Vysya Bank is 9 per cent and home loan interest ranges from 8.05 to 10.25 per cent.
• HDFC Bank’s RLLR is 8.1 percent, minimum interest is 8.1 percent and maximum interest is 8.9 percent.
• The RLLR of Karnataka Bank is 7.95 per cent, the minimum interest is 8.24 per cent and the maximum is up to 9.59 per cent.
• The interest on home loan in Union Bank of India ranges from 8.25 to 10.1 per cent, while the RLLR is 8.7 per cent.
• Bank of Maharashtra is taking interest ranging from 8.3 per cent to 9.7 per cent on home loans, while the RLLR is 8.7 per cent.

What factors affect home loans
According to the HDFC Bank website, there are 7 major factors that affect home loans. Which includes the benchmark lending rate, loan to price ratio, financial profile of the borrower, repayment tenure, location of the property, status of the home loan lender.

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What documents are needed to take a home loan
To take a home loan, you need to provide some documents (Home Loan Documents). To avail a home loan, you have to provide proof of identity, proof of income, proof of age like Aadhaar card, PAN card, voter ID etc. Apart from this, banking information, address proof, relationship proof and proof of education qualification also have to be given.

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