A woman home loan borrower can enjoy cheapest EMIs - SBI offers lowest interest rate of 8.55%

 For home loan debtors, this is the best of times. The reason for this is because the RBI has cut policy repo rates twice in a row. Banks are well positioned to offer attractive and lower home loan interest rates, with the repo rate at a 9-year low of 5.75 percent. Women home loan borrowers, in particular, stand to benefit the most. Senior citizens receive a distinct set of interest rates than savings or deposits, and women receive a different set of facilities and advantages. As a result, when it comes to home loans, the interest rates offered to women are far lower than those charged to males by banks.

At this time, the leading lender in India, State Bank of India (SBI), is offering the lowest interest rate on home loans, which is targeted exclusively at women.

A woman borrower at SBI will pay the lowest rate of 8.55 percent on a home loan up to Rs 30 lakh, with a maximum rate of 8.65 percent. This is intended for ladies who work. Non-salaried women borrowers, on the other hand, can get a home loan from SBI at an interest rate of 8.70 percent to 8.80 percent.

SBI offers house loan interest rates of 8.60 percent to 8.70 percent to salaried class borrowers borrowing less than Rs 30 lakh. Home loan interest rates for non-salaried people range from 8.75 percent to 8.85 percent.

Unlike SBI, the majority of banks have a different interest rate pattern for home loans. Some even have a single rate that applies to both men and women. However, another private lender, HDFC Bank, offers a distinct set of interest rates on home loans for women, which are still higher than those offered by SBI.

A salaried woman borrower can get a home loan up to Rs 30 lakh from HDFC Bank at an interest rate of 8.60 percent to 9.10 percent. Non-salaried people, on the other hand, will have to pay house loan rates ranging from 8.75 percent to 9.25 percent.

SBI house loans for women are also about to get even more exciting, as the lender has tied its home loan product to the repo rate, which will take effect on July 1, 2019. As a result, any change in the repo rate will have a direct influence on the interest rates on SBI's home loans.

Conclusion

There's no need to be discouraged if your personal loan application is turned down. To boost your chances of loan approval, simply work on improving your credit report and following the methods outlined above. Once you've completed this checklist, you're ready to submit your personal loan application.To find about the best pricing and deals, call our toll-free number +91-9477079053. They'll help you in every way they can. Please contact me at Best Home Loan In India if you have any more. 

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