Even if you don’t have a job, you can get a cheap home loan, which banks offer facilities? | Even if you don’t have a job, you can get a cheap home loan, which banks offer facilities?

- Advertisement -

- Advertisement -

New Delhi : Most of the banks and housing finance companies in the country provide easy loans to job seekers. In fact, due to the regular income of the wage earners, the chances of repaying the loan are very low. In such cases lenders consider them the most reliable borrowers. Interest rates are also discounted based on their credit score and previous loan payment records. At the same time, most banks charge slightly higher interest rates on loans from unpaid people. Some banks and housing finance companies also offer affordable home loans to people without a salary. At present, cheap home loan rates are between 6.55 and 6.8 per cent.

The Reserve Bank of India (RBI) announces policy rates from time to time

The Reserve Bank of India (RBI) announces the policy rates from time to time. On this basis, some banks offer affordable rates even to those who do not have a salary. Punjab National Bank (PNB), one of the public sector lenders, offers interest rates of 6.55 per cent for 20 years on loans of more than 75 years. For this, customers will have to pay a monthly installment of Rs 56,139. Apart from PNB, which banks and housing finance companies are currently offering home loans to non-salaried people at the lowest interest rates?

Kotak Mahindra Bank offers the cheapest loan from 2020

- Advertisement -

Private sector Kotak Mahindra Bank has been providing affordable home loans to its customers since 2020. The bank currently offers loans to non-salaried borrowers at an interest rate of 6.6 per cent. Even if you transfer the balance of your home loan from any other bank, the interest rate will remain the same. If you borrow more than Rs 75 lakh from this bank for 20 years, you will have to pay an EMI of Rs 56,360.

Interest rates of LIC Housing and SBI

The state-owned LIC Housing Finance has an interest rate of 6.66 per cent for a home loan of more than Rs 75 lakh for 20 years. The EMI will be Rs 56,627. State Bank of India (SBI), the country’s largest lender, charges at least 6.7 per cent interest on unpaid customers. At the same time, mortgage lenders HDFC and Tata Capital also offer such home loans to customers at the same interest rate. Their EMI will be Rs 56,805.

BoB and IDBI also charge the same interest rate

- Advertisement -

Government borrower Bank of Baroda lends Rs 75 lakh to salaried and non-salaried borrowers at the same interest rate for 20 years. Its current interest rate is 6.75 per cent. In addition, IDBI Bank charges the same interest rate on both types of borrowers.

Related news

PM Awas Yojana: Government’s new rules on PM Awas,… Otherwise you will not get a house

Amazon Great Indian Festival: Redmi’s flagship smartphone for just Rs 7,020, find out the offer

Even if you don’t have a job, you can get a cheap home loan, which banks offer facilities?

- Advertisement -