Home Loan Rates: Compare Banks for Your Dream Home!

• Owning a home is a significant financial goal, but rising prices make bank loans essential for many, especially the middle class.
• Interest rates vary significantly among public, private banks, and NBFCs, impacting long-term EMI amounts.
• Kotak Mahindra Bank (7.07%), Bank of India (7.10%), Canara Bank (7.15%), and LIC Housing Finance (7.15%) offer competitive starting rates.
• Key factors influencing loan rates include CIBIL score, loan amount, tenure, and the Reserve Bank's repo rate.
• Experts advise considering processing fees, pre-payment charges, and future interest rate changes alongside the base rate.

Why It Matters: Thorough comparison of home loan rates and associated costs is vital for affordable homeownership.