Home loan has become cheaper , now this bank has reduced the interest rate, the lowest rate in 10 years, applicable from today

New Delhi: Home Loan Interest Rate: This is not a great opportunity to buy a home. After SBI, HDFC, now ICICI Bank has also reduced the home loan interest rate. ICICI Bank today announced that home loan rates have been reduced to 6.7 percent, the lowest rate in 10 years. 

ICICI Bank Home Loan Cheap
New ICICI Bank Home Loan Rates are applicable from today i.e. 5th March 2021. A customer can take a home loan up to 75 lakh rupees at 6.7 percent. Thereafter, home loan rates will be 6.75 percent. If customers want to take advantage of the cheaper home loan rates, they have until March 31, as the scheme will be applicable only till March 31, 2021. 

Can Apply Digitally

Buyers who are not ICICI Bank account holders can also apply for home loans digitally. For that you can use the bank’s website or mobile banking app iMobile Pay. Apart from this, a new customer can apply for a home loan almost by visiting any ICICI Bank branch. Customers get Instant Sanction of Loan digitally. In November 2020, ICICI Bank has become the first private sector bank whose portfolio (mortgage loan portfolio) has crossed 2 lakh crores. Before this, HDFC, SBI, Kotak Mahindra Bank also reduced the interest rate, let’s have a look at that too.   

HDFC makes home loans cheaper

All existing home loan customers will benefit from HDFC’s reduction in interest rates. For existing home loan customers, their new rates will automatically be revised lower. HDFC’s new rates have been implemented from March 4. However, customers who want to avail the minimum interest rate of 6.75 percent will have to approach the bank for which they will have to pay a fee.

SBI loans start from 6.70 percent

Earlier, SBI announced a reduction of 0.70 percent in home loans. SBI is offering home loan at minimum 6.70%. However, the benefit of the discount can be availed only till March 31. Apart from this, if you want to take a loan from SBI, then you are also getting 100 percent discount in processing fee. SBI home loan interest rates are starting from 6.70 percent. However, applicable on home loans up to 75 lakhs. Above that is 6.75 percent on home loans. If you can apply with the help of YONO App, you will get a discount of 5 basis points separately.

Kotak Mahindra also made home loan cheaper

Kotak Mahindra Bank has reduced the home loan interest by 0.10 percent. Kotak Mahindra Bank is launching home loans at 6.65 percent. With this reduction, the bank claims that it is offering customers the cheapest home loans in the market. The bank said in a statement that under the special offer, customers can avail loans at 6.65 percent till March 31. This rule applies to both home loans and balance transfers.

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