5 Banks Providing Cheapest Home Loans in India
4. Canara Bank
Canara Bank is offering 2,137 as floating rate & fixed rate is not applicable for a period of 5 years. Alternatively for 10 years floating rate is 1,335, for 15 years fixed rate is not applicable, floating rate is 1,090 and for 20 years fixed rate is 1 not applicable, floating rate is 982.
Salaried individuals, individuals engaged in business / professionals and self-employed persons and NRIs are eligible to benefit loans without particular permission of RBI. Persons more than the age of 55 years are also eligible subject to certain conditions of RBI.
The bank will finance up to 4 years of gross salary to salaried individuals, 4 years' gross yearly income to businessmen or self employed individuals. In case of NRIs up to 2 years' gross income and selectively up to 3 years' gross income. The repayments are subject to terms and conditions but generally in suitable calculated monthly instalments up to 25 years or borrow approaching age of 70 years, whichever is earlier.
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