Top 10 Best Bank for Home Loan in 2024: Low Interest Rates, Pay Less EMI

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If you are also thinking of building a house, and you need a loan for the house, then today we are going to tell you about such banks from which you can take a home loan at a low interest rate. To know about these banks, you will have to read this article till the end.

The Reserve Bank of India kept interest rates stable for the seventh consecutive time in its monetary policy review meeting on April 5. No change has been made in this year’s report. According to the data received from RBI, we have given information about how much interest has to be paid on home loans of the top 10 banks of the country and along with this, how much EMI you will have to pay every month on a 20-year home loan up to Rs 75 lakh, which you can see below.

Top 10 Best Bank for Home Loan

1. State Bank of India (SBI)

India’s largest bank, State Bank of India, is charging 9.15% interest on home loans, the monthly EMI on a 20-year loan of Rs 75 lakh from this bank will be Rs 67,725.

2. Punjab National Bank

Punjab National Bank is also a very big bank of India, on taking a home loan from this bank, you will have to pay an interest rate of 8.4%, on a 20-year home loan of Rs 75 lakh, the monthly EMI will be Rs 64,200.

3. Axis Bank

Among the private sector banks, Axis Bank is offering the cheapest home loan. The monthly EMI on a 20-year loan of Rs 75 lakh from this bank will be Rs 65,750.

4. Bank of Baroda

Bank of Baroda is offering home loan to its customers. This home loan is available to the customers with an interest rate of 8.4%, in which the monthly EMI on a 20-year home loan of Rs 75 lakh will be Rs 64,200.

5. Kotak Mahindra Bank

Kotak Mahindra Bank is charging 8.7% interest on home loans, the monthly EMI on a 20-year loan of Rs 75 lakh will be Rs 64,550.

6. Union Bank of India

Union Bank of India is also providing home loan facility to its customers. In this bank, the monthly EMI on a 20-year home loan of Rs 75 lakh will be Rs 63,900. This bank is charging 8.35 percent interest from its customers.

7. Yes Bank

Yash Bank is charging 9.4% interest on home loans, the monthly EMI on a 20-year loan of Rs 75 lakh will be Rs 68,850.

8. Canara Bank

Canara Bank is also giving home loans to its customers, this bank is charging 8.5% interest on home loans, the monthly EMI on a 20-year home loan of Rs 75 lakh will be Rs 64.650.

9. ICICI Bank

ICICI Bank is charging 9% interest on home loans, the monthly EMI on a 20-year loan of Rs 75 lakh will be Rs 66,975.

10. HDFC Bank

HDFC Bank is also providing home loan facility to its customers. On taking a home loan from this bank, you will have to pay 9.4% interest, on a home loan of Rs 75 lakh or Rs 20 lakh, the monthly EMI will be Rs 68,850.

Conclusion

If you also want to build a house and you do not have money, then you can choose the bank from the list of banks given above that you find suitable and take a home loan from that bank.

We hope this article has helped you learn more about a Best Bank for Home Loan in 2024. If you have any questions or tips, feel free to comment below.

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