I recently bought a home in Kolkata by availing a home loan at 8. 50% interest rate from SBI Bank. Before availing the loan from SBI, I researched a lot and found several other options. From what I had observed and researched, the starting home loan interest rate in Kolkata is around 8.50%. The leading lending banks and housing finance companies in Kolkata provide borrowers a maximum of 30 years to repay the loan amount.
What are the Home Loan Rates in Kolkata?
For each home loan application, applicants may be required to pay a processing fee that ranges from 0.25% to 0.50% of the loan amount. I mainly researched the rates from 3 lenders before option for SBI. The following table represents the same:
Banks in Kolkata | Interest Rate |
SBI | 8.50% to 9.65% |
HDFC | 8.75% to 9.65% |
Tata Capital Home Loans | 8.75% |
I finally opted for SBI, as I was getting a home loan at a slightly lower interest rate. Remember that a thorough review process that takes into account the applicant\'s creditworthiness, CIBIL score, property value, and other pertinent variables determines the final home loan interest rate and other related fees.
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I decided to purchase a house in Kolkata, West Bengal, after moving to this delightful city. However, before doing so, I checked about what is the lowest home loan interest rates in Kolkata. I discovered that the lenders that exist in Kolkata typically offer home loans at interest rates higher than 8.30% p.a. for loan amounts up to 90% of the property value and for terms up to 30 years. Furthermore, it is dependent upon several variables, including the borrower's income, credit score, loan amount, and current market conditions.
What is the Home Loan Interest Rate in Kolkata?
The economy and the banking industry are vulnerable to fluctuations, which can affect the rates that banks and lenders offer. Before applying for a home loan, borrowers are suggested to compare the rates provided by various banks from the below table:
| Lender Name | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
|---|---|---|---|
SBI |
8.40% - 10.15% p.a. |
8.40% - 10.05% p.a. |
8.40% - 10.05% p.a. |
HDFC Bank Limited |
8.35% p.a. onwards |
8.35% p.a. onwards |
8.35% p.a. onwards |
LIC Housing Finance |
8.40% - 10.35% p.a. |
8.40% - 10.55% p.a. |
8.40% - 10.75% p.a. |
ICICI Bank |
8.75% p.a. onwards |
8.75% p.a. onwards |
8.75% p.a. onwards |
PNB Housing Finance |
8.50% - 14.50% p.a. |
8.50% - 14.50% p.a. |
8.50%-11.45% p.a. |
IDFC First Bank |
8.75% p.a. onwards |
8.75% p.a. onwards |
8.75% p.a. onwards |
Bajaj Housing Finance |
8.50% p.a. onwards |
8.50% p.a. onwards |
8.50% p.a. onwards |
Recently, my friend suggested me the below link to compare interest rates of various bank:
Get lowest home loan rates via NoBroker here.I hope you found this answer helpful. ?
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Akhilbandhu
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2024-01-17T20:00:26+00:00 2025-02-17T16:05:30+00:00Comment
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