The State Bank of India finances home loans starting at 8.05% p.a., with loan terms up to 30 years, up to 90% of property value, and processing fees. 0.35% of the loan amount (between Rs 2000 and Rs 10,000) (50% reduction in basic processing fees)
Regular Home Loans from SBI: The interest rate on SBI Regular Home Loans starts at 6.90%, with a minimum age of 18 and a maximum age of 70 years, and a 0.05% concession for women borrowers.
SBI Bridge Home Loan: The SBI Bridge Home Loan interest rate for the first year is 6.95 percent, and this scheme is for people who are buying a home while selling another, with a maximum repayment term of two years.
In SBI, NRI home loan interest for salaried males starts from 7% onwards and for females at 6.95%, while for non-salaried males it starts from 7.15 and for females it is 7.10 p.a.
This is for those individuals who wish to purchase a plan for constructing their own home. The maximum loan amount is Rs. 15 crore, with a maximum repayment period of 10 years.
This is for booking a plot or house in advance. The interest rate is 10.45 percent per annum, with a maximum loan term of one year.
This is for people who live in hilly regions or tribal areas. There is a maximum of 15 years to pay back the loan, and the interest rate is 10 percent per anum.
ICICI Bank offers home loans with interest rates from 8.10% to 9.10% for up to 30 years, depending on the applicant's qualifications, and processing fees from 0.50% to 2% of the loan amount.
Home Loan Schemes that are provided by ICICI Bank for Home Loan:
The maximum amount is Rs 1 crore for people who have a salary account with ICICI Bank. Processing fees are 2%, and taxes are applicable on the borrowed amount.
Here the inetrest rate is floating and also competitive . It provides a low amount of EMI per lakh of RS 808.
Here, the calculation of interest is reduced on a monthly basis and part of the payments are allowed with zero charges .
PNB Bank offers home loans starting from interest at 7.41%–8.85% p.a tenure upto 30 years of loan amount as per eligibility of borrowers with 0.35% of the loan amount(Rs 2500–1500)processing fees.
Schemes Provided By PNB :
This is available for the purchase of property in India with an interest rate starting at 7.35% .
Here, loans are provided at low processing fees with minimum documentation.
A loan is offered for renovation,repair, flooring, and electrical or plumbing work. It is for already purchased properties.
Interest rates on home loans from Kotak Mahindra Bank start at 7% and go up to 30 years.
Home loan schemes provided by Kotak Mahindra
This is designed for the purchase , reconstruction, and renovation of your property or house. The amount is up to 90% of property value for tenures up to 20 years.
Federal Bank offers loans with interest starting at 7.65% to 7.75% pa for salaried and 7.70% to 7.80% for self-employed.
Schemes:
A loan is provided up to 60% of the price of the land. The maximum amount available is Rs 25 lakh, with terms of up to 60 months.
(ii) Federal Bank Home Improvement Loan:
The purchase or completion of the house flat apartment qualifies for the loan. The interest rate here amounts to a Federal home loan interest rate + 2% repayment tenure up to 60 months.
The structure of a REIT is similar to that of a mutual fund. They borrow money from multiple investors and make use of it to buy real estate properties .
Real estate investment types include:
These are the best sources of financing for investing in real estate . Your dream property is never far away! Financing literacy is important in every field. If you have proper knowledge of finance, then nothing can stop you from becoming the best player in the investment game.
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