Mortgage Loan Interest Rate: In this article, we will provide you information about mortgage loan interest rate. Mortgage loan interest rate of different types of banks and financial institutions can be different.
The interest rate of the loan affects the EMI of your loan because the lower the interest rate of your loan, the lower will be the EMI of the loan. Banks check the credit history of the applicant before giving Mortgage Loan, so it is necessary to have a very good CIBIL Score to apply for the loan.
Mortgage loan comes under the category of a secured loan. In this article we property loan interest rate 2022 You will get complete information about it, so read this article till the end.
Mortgage Loan Interest Rate 2022
We need money all the time. When we take a loan by mortgaging our property or house, it is called Mortgage Loan. When we take a loan against property, it Loan against property also say
Many banks and financial institutions provide this mortgage loan. Mortgage loan interest rate can be different in each bank. If you are unable to repay your loan against property loan on time, then the money is recovered by the lender by selling your mortgaged property.
So before applying for the loan you must Loan Against Property Interest Rate 2022 It is important to have complete information about the loan so that you do not face any kind of problems at the time of loan repayment.
All Mortgage Loan Interest Rate 2022
Given below is the list of all those banks which provide Loan against property loan along with the information about their mortgage loan interest rates. You can calculate the Average Mortgage interest rate 2022 by comparing the mortgage loan interest rates of all banks and financial institutions:
| name of lender | Interest rate (per annum) |
|---|---|
| HDFC bank | Starting at 9.00% |
| axis Bank | Starting at 9.90%% |
| hsbc bank | Starting at 9.30% |
| ICICI Bank | Starting from 9.75% |
| IDFC Bank | Starting from 8.75% |
| City Bank | Starting from 6.90% |
| state Bank of India | starting at 10.00% |
| Karur Vysya Bank | Starting from 10.50% |
| PNB | Starting from 9.25% |
| Federal Bank | Starting from 9.75% |
| IDBI Bank | Starting from 8.10% |
| Vijaya Bank | contact the bank |
| Union Bank of India | Starting at 11.70% |
| Corporation Bank | Starting from 10.85% |
| Oriental Bank of Commerce | Starting at 10.95% |
Property Loan List:
| name of lender | loan amount | loan tenure |
|---|---|---|
| HDFC bank | up to 60% of the value of the property | 15 years |
| axis Bank | up to Rs.5 crore | 20 years |
| hsbc bank | up to Rs 10 crore | 15 years |
| ICICI Bank | up to Rs.5 crore | 15 years |
| IDFC Bank | up to Rs.5 crore | 15 years |
| City Bank | up to Rs.5 crore | 15 years |
| State Bank of India (SBI) | Up to Rs 7.5 crore | 15 years |
| Karur Vysya Bank | up to 3 crores | 100 months |
| PNB Housing Finance | up to 60% of the value of the property | 15 years |
| Federal Bank | up to 5 crores | 15 years |
| IDBI Bank | up to 10 crores | 15 years |
| Vijaya Bank | up to 5 crores | 10 years |
| Union Bank of India | up to 10 crores | 12 years |
| Corporation Bank | up to 5 crores | 10 years |
| Oriental Bank of Commerce | up to 10 crores | 10 years |
Features of Mortgage Loan
- When a person takes a loan under this loan, he has to mortgage his property or property.
- Taking loan against property is also called loan against property.
- Usually the loan tenure of Mortgage Loan is up to 15 years.
- The loan amount given under the loan depends on factors like applicant’s employment status, place of residence, age, credit history.
- You can prepay your loan.
- You can repay your loan in the form of EMI. Some banks offer multiple loan repayment options.
- There are various types of fees charged by banks under Loan Against Property loan such as property inspection fee, documentation fee, processing fee, application fee, loan overdue fee, late payment penalty, loan conversion fee etc. You must be aware of these charges before applying for the loan.
- If you do not repay your loan on time, then the lender can recover his money by selling your property.
- Mortgage loan is very similar to home loan. You can also take this loan to buy your own house. Once you pay the full amount, you become the owner of that house.
- You can apply for this loan both online and offline.
- Some lenders offer doorstep services.
- Both residential and commercial properties can be pledged for Mortgage Loan.
How to apply for Loan Against Property loan?
You can apply for this loan both online and offline. To apply online, you have to visit the official website of the bank. After that click on the option of apply loan. After you have filled the form, the lender will contact you and proceed with the loan process.
To apply offline, you have to visit your nearest bank branch. You can apply offline by visiting the bank branch.
conclusion
In this article we have given you Mortgage Loan Interest Rate 2022 Complete information about has been provided. If you are applying for Mortgage Loan of any bank, then you have to Loan Against Property Interest Rate in hindi It is necessary to have information about
Mortgage loan interest rate lets you know how much you will have to pay at the time of loan repayment. For more information about mortgage loan interest rate, you can write to us in the comments.
FAQ:
When we take a loan by mortgaging our property or house, it is called mortgage loan.
Different banks and financial institutions have different interest rates. The list of interest rate of all is given in this article.
You can apply online by visiting the official website of the bank or offline by visiting your nearest bank branch.
If you have a good credit score and are an existing customer of the bank, you can avail the loan at attractive interest rates.