Home loan: A home loan is a big, long-term loan, and it is also expensive. If you are also thinking of taking a home loan, then now is the best opportunity for you, because at this time, 3 government banks are offering home loans at the initial interest rate. If you want, you can take a loan at a cheap interest rate to build a house (the lowest home loan rates) at this time.

Home loan rates of the Central Bank of India-

The Central Bank of India is offering cheap home loans to its crores of customers. This bank is currently giving home loans at an interest rate of 8.10 percent. While taking a home loan from the bank, 0.50 percent plus GST is taken as the bank processing fee up to Rs 20,000, but Rs 1350 plus GST will have to be paid as the documentation charge (home loan documentation charge).

Bank of Maharashtra home loan rates-

Along with this, Bank of Maharashtra is also providing loans at low interest rates (home loan ki byaj dare). If you take a loan from this bank, then you can take a home loan at an initial interest rate of only 8.10 percent. At present, no processing fee is being charged by Bank of Maharashtra. According to the rules, if you are a woman or a defense personnel, then you will get a 0.05 percent discount. There is also no pre-payment or pre-closure, or part-payment charge.

These banks are offering very cheap home loans -

Union Bank of India is currently providing home loans to customers at an initial interest rate of only 8.10 percent, but processing fees are also being charged by this bank. The bank is taking 0.50 percent of the loan amount as processing fees.

Keep in mind the CIBIL score.

For any loan, having a correct CIBIL score (best CIBIL Score) is very important. If your CIBIL score is correct, then these three banks will offer you a home loan at just 8.10 percent. The CIBIL score ranges from 300 to 900. The CIBIL score shows how serious you are about making payments on time. Sometimes you have to depend on banks for home loan approval. But the home loan will be approved only after all the reviews from the bank.

Understand the complete calculation of loan EMI -

If we talk about EMI, then on taking a home loan from these banks (home loan kha se le) at 8.10 percent interest, you will have to pay an EMI of Rs 33,707 for 20 years. According to the calculation, you are paying interest of Rs 40,89,674 on this loan in 20 years. That means you will have to return a total of Rs 80,89,674 to the bank in the end. Along with this, if you take this loan for 15 years, then you will have to pay a monthly installment of Rs 38,457, and if you take it for 30 years, then your monthly installment will be Rs 29,630.