{"id":136398,"date":"2024-04-26T09:10:20","date_gmt":"2024-04-26T13:10:20","guid":{"rendered":"https:\/\/v99news.com\/home-loans-top-5-banks-with-lowest-rates-of-interest\/"},"modified":"2024-04-26T11:51:28","modified_gmt":"2024-04-26T15:51:28","slug":"home-loans-top-5-banks-with-lowest-rates-of-interest","status":"publish","type":"post","link":"https:\/\/v99news.com\/home-loans-top-5-banks-with-lowest-rates-of-interest\/","title":{"rendered":"Home Loans: Top 5 banks with lowest rates of interest"},"content":{"rendered":"
\n<\/p>\n
If you are planning to buy a house and looking for a home loan<\/a> for the same, you would ideally be looking not only for a bank that can give you money as early as possible but also the one that charges a low rate of interest.<\/p>\n<\/p><\/div>\n After all, the marginal difference in the interest rate<\/a> can end up making a significant difference in the total interest outgo for the borrower over the loan tenure.<\/p>\n Let us suppose, someone raises \u20b9<\/span>50 lakh loan at 9.8 percent interest rate, the EMI (equated monthly installment) for 10 years would be \u20b9<\/span>65,523. The EMI rises to \u20b9<\/span>66,075 when the interest rate inches upward to 10 percent per annum.<\/p>\n Over a period of 10 years, the borrower will end up paying \u20b9<\/span>66,240 higher if the rate of interest is only 20 basis points higher.<\/p>\n