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Can anyone advice on taking Home loans for my property investments?
asked Sep 7, 2017 in Home Loan by saheel (91 points) | 20 views

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Hi, if you believe the banks, they will tell you that they are offering home loans at 8.35% . This is partly true - partly , because the 8.35% rate is only for a loan upto Rs. 30L. As you go for a higher loan amount, the interest rates increase. Sometime back SBI was offering interest rate of 8.55% for loans upto 70L, ICICI was offering 8.65% for loans upto 70L - ditto for Axis and HDFC.
However, because of a lack of interest from home buyers of late (and due to some RBI policy), it seems that banks have dropped interest rates. I know of a friend who got a loan for 65L at 8.45% with all processing fee waived off! He went to 2-3 different banks before getting this rate.
So - short answer to your question is you can get interest rate of 8.45%. Long answer is that until you go to 2-3 different banks and negotiate, you will never know if it can get better :)
Hope this helps.
answered Sep 7, 2017 by Rakesh Mohan (17 points)
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