Between Rs. 20 Lakhs and Rs. 75 Lakhs: 80% of the total cost. Above Rs. 75 Lakhs: 75% of the total cost. Maximum tenure of the loan. For Salaried class: maximum 30 years of age. For Self-Employed class: maximum 20 years of age. Repayment method. In terms of EMIs. Interest Rate.
Yes, PNB offers lower interest rates to home loan applicants having higher credit score. The For example, the lowest home loan interest rates are offered to applicants having credit scores of 750 and above, followed by those having credit scores of 700-749, 650-699 and 550-649. How to reduce home loan interest rate in Punjab National Bank?
Joining industry peers, mortgage lender LIC Housing Finance joined raised home loan rate by 35 bps. The move, which comes a week after an increase by bigger rival HDFC by a similar quantum, entails that the minimum rate of interest will get revised to 8.65 per cent for the best-rated borrower.
LIC Housing Finance charges minimal processing fees on home loans. The processing fee is non-refundable, and it is not included in the home loan amount. Maximum processing fees are up to 0.50%. For example, if the home loan amount is Rs 20 lakh, you will have to pay Rs 10,000 as processing fees, Which is 0.50% of Rs 20 lakh.
Both SBI and LIC HFL provide affordable interest rates to prospective home owners, with LIC HFL's interest rate starting at 8.30% p.a. but SBI providing an interest rate concession to women borrowers, thus starting the interest rates at 8.40% p.a. The CIBIL Score plays an important role in the interest rates offered by LIC Housing Finance
The benchmark prime lending rate is used in the pricing of home loans. The revised interest rates on house loans, with effect from June 20, 2022, will now begin at 7.50 percent, stated LIC Housing Finance in a statement. For applicants with a credit score of 700 or higher, the new interest rates on house loans begin at 7.50 percent.
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