Which is the cheapest home loan offering bank? 30 lakh, 20 years

What’s up Friends, Today you will tell you about the 6 cheapest home loan giving banks which gives loans in less than 60 days. In today’s time, many people need a home loan to build their dream house, But in today’s struggle-filled life, it is difficult for everyone to build a house with their own money. Building a house requires a lot of planning, and a lot of money too. He/she do not have that much money to built a house in a instant,

So they take loans from banks to build their dream house. All the people always have a plan in their mind to build their houses in different way, that they will soon start living in their dream house and leave their rented house. Every person thinks that he/she ad there parents should live in his/her own house and that they called their home, so keeping this in mind we have written this article. To fulfill every person’s desire to build a house, many banks and financial institutions provide home loans.

we have put a list of some of well know Indian banks below:

  • State Bank of India
  • PNB Bank
  • Bank of India
  • HDFC Bank
  • Kotak Mahindra Bank
  • ICICI Bank

Let us know which bank gives home loan at what interest rate and how much money will we have to deposit every month to repay the home loan.

Table of Contents

Cheapest Home Loan Banks

As we know, There are many banks in India which gives home loans. But there are some banks which provide the cheapest home loans. Talking about the cheapest home loan bank, we are going to tell you that which are the banks which provide the cheapest home loan.

State Bank of India Regular Home Loan

SBI Bank is considered the best bank in terms of giving home loans. It is India’s largest government bank providing the best facilities. This bank does its work by connecting with its millions of customers. This bank is also known for providing the cheapest home loans in India.

Property Loan DetailsAmount
Home Loan Amount₹30,00,000 (30 lakh INR)
Loan Tenure20 years
Total Interest Amount₹3,547,648
Monthly EMI₹27,282
Minimum Interest Rate9.15%
Total Payment Amount₹6,547,648

PNB Bank Housing Loan For Public

PNB Bank is a very well-known Bank also know as Punjab National Bank. Punjab National Bank comes second in the list of Indian banks. It is a Government bank, and it works under the RBI. This bank was started in 1894 and currently this bank is one of the major banks of India. PNB is known for providing a variety of financial services such as home loans, car loans, business loans, personal loans, foreign exchange services, account protection services, and financial investments.

Loan DetailsAmount
Loan Amount₹30 Lakhs (30 lakh INR)
Minimum Interest Rate (ROI)8.75%
Loan Tenure20 Years
Monthly EMI₹26,511
Total Interest Payable₹3,362,717
Total Payment (Principal + Interest)₹6,362,717

Bank of India Star Home Loan

Bank of India is known as one of the biggest government banks of India. It was established in 1906. Currently, Bank of India provides many services. It provides many services like Car Loan, Home Loan, Insurance, Payment Services, Internet Banking, Saving account etc. Along with this, it also provides the facility of foreign exchange.

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Loan DetailsAmount
Loan Amount₹30 Lakhs (30 lakh INR)
Minimum Interest Rate (ROI)8.45%
Loan Tenure20 Years
Monthly EMI₹25,940
Total Interest Payable₹3,225,561
Total Payment (Principal + Interest)₹6,225,561

HDFC Bank Home Loan

HDFC Home Loan is a facility provided by a bank which is provided by HDFC Bank. This bank is one of the private banks of India and provides home loans for purchasing or constructing a house. Through HDFC Home Loan, customers can take home loan for purchase, construction, expansion of the house. This is a very good bank in terms of giving home loans. It is very easy to apply loans in HDFC Banks.

Loan DetailsAmount
Loan Amount₹30 Lakhs (30 lakh INR)
Minimum Interest Rate (ROI)9%
Loan Tenure20 Years
Monthly EMI₹26,992
Total Interest Payable₹3,478,027
Total Payment (Principal + Interest)₹6,478,027

Kotak Mahindra Bank home loan

Kotak Mahindra Bank is a private bank of India. Which provides home loans for purchase, construction and renovation of new houses. This bank provides home loans with very attractive interest rates. You can take a home loan from Kotak Mahindra Bank in a short time, their home loan facilities are quite good.

Loan DetailsAmount
Loan Amount₹30 Lakhs (30 lakh INR)
Minimum Interest Rate (ROI)8.85%
Loan Tenure20 Years
Monthly EMI₹26,703
Total Interest Payable₹3,408,731
Total Payment (Principal + Interest)₹6,408,731

ICICI Bank Home Loan

ICICI Bank Home Loan: Home loan given by ICICI Bank is very good and cheap. The bank is known for its excellent facilities. If you want to take a home loan in very less time then you can take it from this bank. In this, you can take a loan to buy your dream house, construct or renovate a house, or invest in property. ICICI Bank is a very famous bank which aims to provide easy home loans to its customers.

Also Read  How to get Home Loan from bank in 2024 Complete Guide
Loan DetailsAmount
Loan Amount₹30 Lakhs (30 lakh INR)
Minimum Interest Rate (ROI)8.90%
Loan Tenure20 Years
Monthly EMI₹26,799
Total Interest Payable₹3,431,794
Total Payment (Principal + Interest)₹6,431,794

Read More :- How to get Home Loan from bank in 2024 Complete Guide

Conclusion

Friends, today in this article you have learned about the 6 cheapest home loan giving banks and these banks are of some government and some private banks. Which is known for its excellent facilities. And taking a loan from them can be much cheaper and easier in comparison to others. If you also want to take a home loan, then you can get all the information about these banks in our second Blog. This will make it much easier for you to get a home loan.
Thanks guys.

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