By Admin 
- Know the EMI of various banks for Rs 25 lakh home loan.
- HDFC, Canara, Kotak Mahindra banks offer different EMI rates.
- SBI, Axis Bank also offer different EMI rates.
- Check the interest rates, fees, and prepayment while taking a home loan.
Home Loan EMI: Often when we talk about people’s dreams, one thing remains the same in many cases. Almost every person dreams of owning his own house. Due to rising inflation and rising house prices, people take help of home loans from banks. If you also want to build your own house by taking a home loan, then you should keep some important things in mind. With this you can avoid many problems. Let us know, if you take a loan of Rs 25 lakh for 20 years, then how much EMI will you have to pay every month?
Home loan rates and EMI of different banks
HDFC Bank is offering monthly EMI of around Rs 20,524 for 25 years at 7.75 percent interest rate. Canara Bank is offering home loans at interest rates between 7.40 percent to 8.90 percent. In which EMI for 25 years goes from around Rs 20,000 to Rs 22,500. Whereas Kotak Mahindra Bank is giving loan at monthly EMI of around Rs 20,000 to 22,000 for 25 years at the rate between 7.70 percent to 8.70 percent.
Axis Bank charges EMI around Rs 21,500 to 22,500 for 25 years at interest rates between 8.40 per cent and 8.50 per cent. At the same time, SBI is also offering monthly EMI of around Rs 21,500 to 21,650 for 25 years at the rate of 8.40 percent to 8.50 percent.
Keep these things in mind while taking home loan
1. Before taking a loan to buy a house, you should check the interest rates and offers of different banks carefully, because the conditions of each bank may be different. Choosing the right option can reduce both your EMI and total expenses.
2. While applying for a home loan, an application fee also has to be paid. This amount is not refundable. Before taking a loan, it is better to decide from which bank you want to take the loan.
3. Mortgage deed charge also has to be paid at the time of home loan. Which is taken according to the loan amount, although in some cases banks also waive it. Therefore, taking decisions only after getting information is a wise step.
4. The bank appoints a lawyer to investigate the property, whose fees are charged from the applicant. If you check in advance whether the property in which you are investing has got bank approval or not, then the expenses can be reduced.
5. While taking loan one must definitely ask about prepayment. If you repay the loan amount before the stipulated time, you may have to pay prepayment charges. This may be different for every bank. In some cases, banks impose heavy charges on prepayment. This information must be obtained before taking the loan.
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