Advertisement

Help
You are here: Rediff Home » India » Get Ahead » Money » Borrow
Search:  Rediff.com The Web
Advertisement
  Discuss this Article   |      Email this Article   |      Print this Article

What are the current home loan rates?
Larissa Fernand
Get news updates:What's this?
Advertisement
December 08, 2004

Everyone's talking of how interest rates on home loans are rising. Here is a look at what some players are offering.

To get to the Web sites, click on the name of the bank/ housing finance company.

  • FIXED RATES (percent per annum)

FLOATING RATES (percent per annum)

#ABN AMRO Bank

7.75

7.25

Bank of Baroda

9 � 10

8 � 8.75

Bank of India

8.5 � 9.25

7.5 � 8.5

Canara Bank

7.75 - 9

7.25 � 8.25

Central Bank of India

8.5 � 9.5

8 - 9

Citibank

-

8.25

Corporation Bank

8.25 � 8.5

7.5 � 8.25

Dena Bank

-

11 � 11.25

Dewan Housing Finance Ltd � DHFL

8.5

8

HDFC

8.25 � 8.75

7.5 � 8.75

HSBC

8

8.25

ICICI Bank

8.5

8

IDBI Bank

8 � 8.5

7.75

Kotak Mahindra Bank

8 � 8.5

7.5 � 8.5

LIC Housing Finance

8

7.5

Punjab National Bank

9.25 � 11

7.75 � 9

State Bank of India

8.5 � 9.25

8 � 8.75

Standard Chartered Bank

8 � 8.5

7.5 � 8.25

Sundaram Housing Finance

8.5 � 9.5

8.25

Syndicate Bank

8 � 9

7.25 � 8.25

UTI Bank*

9.75 � 10.75

7.75 � 8

Vijaya Bank

7.5 � 8.5

7 � 8.25

 # ABN AMRO also offers the Super Saver Scheme in which the interest rate is 6.5 percent for the first two years. The third year onwards, it turns into a floating rate loan.

 * UTI Bank: One page on the Web site gives the above rates, while another gives the rate of interest at 9.25 percent with no indication of whether it is fixed or floating. When we called one of their branches, we were told the fixed rate was 9.75 percent and the floating rate 7.75 percent per annum.  

Check with the banks on the fixed loan rates. Some of them fix it only for a few years and take a fresh look at it again. HSBC and ABN AMRO, for instance, re-price their fixed rate loans every 3 years.

This information has been obtained from the housing finance company/ bank Web sites or through calls to their customer service lines. Please verify these rates when taking a loan.  

DON'T MISS!

Should you rent or buy a home?

How to qualify for a home loan

How to pay for your new home


 Email this Article      Print this Article

© 2007 Rediff.com India Limited. All Rights Reserved. Disclaimer | Feedback