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Which bank is best for home loans in 2021?

Many of us have come across this question and have searched a lot of time on google. But have we been able to find a clear answer? Let us at All About Loan try to throw some light on this.

Taking a Home loan and putting up application at any Bank be it Private Banks like HDFC, Axis, Citibank or PSU Banks like SBI, Bank of Baroda etc is not the same. Every Banks have different criteria and conditions basis which they sanction the Home Loan.

Conditions like Ready Property/Under Construction Property, Current Income of applicant, Cibil Score, Work Experience, Current age etc is taken into consideration and then Home Loan is sanctioned.

If we compare the Best Bank for Home loan in July, 2021 based on Lowest Rate of Interest following are the Banks:-

Lowest rate of Interest for Home loan for top 10 Banks

Banks Interest Rate
Kotak Mahindra Bank 6.65%
CitiBank 6.50%
SBI Home Loan 6.70%
HDFC Bank LTD 6.75%
Union Bank of India 6.80%
Bank of Baroda 6.85%
Central Bank of India 6.85%
Bank of India 6.85%
ICICI Bank 6.90%
LIC Housing Finance 6.90%

*Rates as on 26th July 2021

But lowest Rate of Interest does not guarantee one the best deal because the above rates being offered also depends on CIBIL Score, Loan amount and the type of property being funded.

Best Banks for Home loans in 2021 can also be compared basis the Processing fee charges by them.

Processing fee for Home Loans is the cost that one needs to pay for Legal Check of Property, Valuation charges, CIBIL check charges and other underwriting process done by Bank before approving your Home Loan

We at All About Loan, are a team of experts and ex-bankers who have been serving numerous clients. For your loan queries, you can connect with us on below details.

www.allaboutloan.in
info@allaboutloan.in
+91 70660 10609    

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