If you are thinking of buying a home in the festive season, then this is a great opportunity. The real estate market is going through a recession all over the country. Due to not being a corporate cell, banks have now got special offers on home loans for such retail customers, which you can avail during the entire Festive Season.
Banks want to improve their loan book at all times. However, the recession in the real estate sector the bank is also inauspicious. The reason for this is that due to the real estate of the banks, NPA have increased significantly. Banks have come up with their offers to increase retail growth. By this year, retail loan growth was 15 per cent, which was 18.8 per cent last year. According to RBI. Retail growth has come down from 17.2 per cent in this period to 10.5 per cent.
These three Banks Reduced their Base Rate: Recently three major banks of the country had announced to cut their base rates. However, it will be used only for those who have taken home loan before April 2016. Now all types of loans are settled by MCLR, for which banks have not made any announcement.
SBI Home Loan Offer: SBI, the country’s largest bank, has taken a special offer in view of the festive season. Under this offer of “Hamara Ghar” name, the fixed rate for two years has been fixed at 8.35% for those who have taken home loan of 30 lakh rupees for two years. Apart from this, if someone takes a top up above the loan, then he has to pay interest at the same rate. There will be no processing fees for loan application under this offer.
Axis Bank is waiving 12 EMI: 12 EMI are waived on Axis home loan, the third largest bank of the private sector. Whoever does any default on any of the customer loan repairs on loans upto 30 lakh, their 12 EMI bank will forgive. This loan will attract an interest of 8.35%. If you take a loan for 30 years then you can save 3 lakhs under this offer.
Cashback Scheme – ICICI: In the Private Sector, the country’s largest bank, ICICI, has introduced cashback scheme on home loan. Under this, one EMI will get cashback of 1 percent. According to the bank, if a customer takes a loan of 30 lakh rupees for 30 years then it will be saved at Rs 3,24,801. At the same time, those who take loan of 30 lakh rupees for 15 years will be saving 96,349
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