The Bank of Baroda recently announced concessions on mortgage interest rates. The public sector bank cut interest rates by 25 basis points (bps) for some borrowers. In accordance with the amendment, BOB will offer home loans at an interest rate of 8.25% per annum. The change in interest rates is effective from November 14. In addition to Bank of Baroda, see below for interest rates on home loans from other major Indian banks:

The State Bank of India offers home loans at 8.55% interest per annum and with processing fees starting at 0.35%.

Kotak Mahindra Bank’s interest rate is 7.50% per annum and above for home loans with a processing fee of 0.50%.

Citi Bank charges 6.65% interest per annum for home loans with a processing fee of Rs 10,000.

Union Bank of India offers home loans at an interest rate of 8.25% per annum and above.

The Central Bank of India interest rate ranges from 7.20% per annum to 7.65% per annum with a processing fee of Rs 20,000.

The Bank of India offers home loans at an interest rate of 7.30% per annum and above.

HDFC bank offers home loans at an interest rate of 8.60% per annum and above with a processing fee of 0.5% or Rs 3,000, whichever is greater.

Axis Bank interest rate on home loans is 7.60% per annum and above with a processing fee of Rs. 10,000.

The interest rate for Canara Bank home loans is 8.10% per annum and above, with a processing fee of 0.50% of the loan amount.

The National Bank of Punjab offers home loans at an interest rate of 7.50% per annum and above with a possibility of full waiver of processing fees.

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