Home Loans Cheaper

Essential Tips for First-Time Homebuyers in the Housing Loan Market

If you are a first-time homebuyer embarking on this journey.

NBFC loan sanctions increase by 6% in Q3FY24, consumer segment up 30%

Home loans sanctions contract 2 per cent; consumer loans grow 30%

Explained: Repo rate unchanged at 6.5%, worst over for home loan borrowers

The lowest rates being offered in the home loan market today are in the 8.40 to 8.50 for eligible borrowers.

SBI, HDFC offer discounted home loans at 8.40% as part of festive sales

Despite rising interest rates, leading home loan players SBI and HDFC have announced discounted interest rates beginning at 8.40 per cent as part of their festive offerings. SBI in a statement said that its home loan book has topped the Rs 6 lakh crore mark, a first in the industry. The leading lender said it is offering up to 25 bps discount on interest rate to new home loan borrowers, making the entry level rate at 8.40 per cent and the offer will run up to January 31, 2023. The largest pure-play mortgage player HDFC, which is awaiting its merger with its banking subsidiary HDFC Bank, said it's also offering discounted interest rates to new borrowers to the tune of 20 bps or at 8.40 per cent. According to HDFC website, the festive offer is valid up to November 30, and the low rate will be applicable to those borrowers who have a minimum credit score of 750. Leading banks and mortgage players have increased their lending rates by up to 0.50 percentage point after the Reserve Bank

Still paying high interest on loans? Compare, choose best offer, switch!

Bargain with your current home loan lender first before deciding to shift to a new player

Home loans to get cheaper: SBI, HDFC, ICICI Bank, Axis Bank slash rates

For self-employed, rates for home loan up to Rs 30 lakh have been revised to 8.40 per cent