Mortgage interest rates at historic lows

As the holiday season approaches, banks around the world India started making offers and making concessions. One of these phenomena which has spread recently is that of the interest rates of the mortgages which are found at a historic low level across the country.

Take a look at some of the home finance companies and banks that offer customers the lowest interest rates on a home loan.

National Bank of India

The State Bank of India (SBI) has earlier cut home loan interest rates to 6.7% for any loan amount. This is the first time a bank has provided home loans at a flat rate, the lender said.

HDFC

HDFC has announced that it will offer interest rates on home loans starting at 6.7%.

Punjab National Bank

Public lender GNP also reduced the interest rate on home loans above 50 lakh from 0.50% to 6.60%.

Bank of Baroda

The Bank of Baroda also offers its customers a similar home loan interest rate which stands at 6.75% for a home loan of Rs 75-lakh with a tenor of 20 years.

Yes Bank

Yes Bank has announced that it is lowering home loan rates to 6.7% per annum during the holiday season for a limited period.

Kotak Mahindra Bank

Kotak Mahindra Bank cut its interest rate by 15 basis points, bringing it down to 6.50% per annum.

—TimesNow