House Loan Interest Rates in India 2013

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India has always been a hard-working nation. The way, it started proceeding towards development, Kudos must reach the pioneers’ laps. India has such rising attitude which helps it marching towards The Sun.

All the Great People are considered as Great not because they did not use their brain, because they found the key utilization methods of human will.

They say if human will is always activated and showing the green light to life’s path, then, nothing is there to resist it from touching the high-sky. The high-sky is always reclined to hard-work. One of such examples is Indian banks.

India used to be under-developed country, now; it is one of fastest developing countries in the world- though low rate at economies but educationally, India has reached even the global map.

And, banks, which we are going to talk about, are meant for enhancing economies condition in India along with other sectors. Banks are playing vital role in energizing not only developing-Indian-society, but also developed society even. With only rich people, a nation does not get the title of developed nation, there is always blend of middle-class people and some who are upper than this in a society.

Thus, whatever the class is, the need of bank is felt in every societal level. The rich people need to vault their precious items in bank’s locker and not only this- loans for big deals out of which rich people would become much richer are also executed by banks only.

Apart from this, middle-class people are always in need to borrow monetary help from banks, for completing higher education, for getting job, and then getting a new house or for tour purpose as well.

Actually, nowadays, getting a new house is now possible at affordable rate of interest on loan from most of leading banks in India, including public bank and private bank. Middle-class people are now having their dreams fulfilled at once. Such an amazing illustration of affordable House loan interest rate in India is portrayed below:

  • State Bank of India – 9.95% (Floating Interest rate) – Per Lac EMI: Rs.962
  • ICICI Bank – 10.15%  (Floating Interest rate) - Per Lac EMI: Rs.975 (Fixed for 1 year)
  • HDFC Bank – 10.15% (Floating Interest rate) – Per Lac EMI: Rs. 975.
  • Axis Bank – 10.25% (up to 25 Lacs) and 10.50% (Floating Interest rate) – Rs. 982 (up to 25 Lacs) and then Rs. 998.
  • ING Vysya – 10.75% (Floating Interest rate) – Per Lac – Rs. 1015.
  • Standard Chartered – 9.99% (Up to Rs.25 Lacs) and then 10.15% (Floating Interest rate).
  • HSBC Bank – 10.50% - 10.75% (Floating Interest rate) – Per Lac: Rs.998 – Rs.1015

Thus, here is the translucent picture of India’s leading banks’ interest rate on Home Loan. If you are having the most explicable insight, then, better to be much active at solving monetary equations.

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