Home loan rates drop to 10-year low; here’s a list of best deals

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Home loan interest rates have dropped to a 10-year low, offering a compelling opportunity to the prospective homebuyers to take the plunge. Not just the public sector banks, private sector lenders have also slashed their rates.

Here’s a look a how much EMI you’ll have to pay if you sign up for a home loan of Rs 30 lakh for a 20-year tenure from these banks:

Kotak Mahindra Bank: The lender is offering home loans at an interest rate of 6.65%. Your monthly EMI for a Rs 30 lakh loan would come down to Rs 22,663 per month for 20 years.

State Bank of India: The country’s largest lender is offering home loans at an interest rate of 6.7%. Your monthly EMI for a Rs 30 lakh loan would come down to Rs 22,722 per month for 20 years.

HDFC: The lender is offering home loans at an interest rate of 6.75%. Your monthly EMI for a Rs 30 lakh loan would come down to Rs 22,811 per month for 20 years.

ICICI Bank: The lender is offering home loans at an interest rate of 6.8%. Your monthly EMI for a Rs 30 lakh loan would come down to Rs 22,900 per month for 20 years.

PNB Housing: The lender is offering home loans at an interest rate of 7.35%. Your monthly EMI for a Rs 30 lakh loan would come down to Rs 23,893 per month for 20 years.