This is the best time of 15 years of buying a house. At
this time not only the house prices are low, but you can easily save up
to Rs 6-7 lakhs through the bank and central government schemes. SBI recently reduced its home loan interest rate to 8.35 per cent. Which is the cheapest in the banking industry. In
such a case, if you take home loan from SBI, then you will get the
benefit of Rs 6 lakh to 7 lakh on loans up to Rs 30 lakh compared to
other banks. Today we are telling you how you can save this amount by taking loans from SBI.
What will be the savings from the interest.
How much will be saved from the interest if you take a home loan of Rs 30 lakh from SBI for 20 years, then you have to pay a total of 61 lakh 80 thousand rupees (with interest). While taking home loan (interest 8.65%) from other banks, you have to pay 63 lakh 16 thousand rupees in 20 years. This will save you 1 lakh 36 thousand rupees.
Affordable House Scheme will save Rs 5.50 lakh
If your annual income is less than Rs 6 lakh and you take a loan under the Prime Minister's Housing Scheme, then from the principal amount of your home loan, you will lose Rs 267280, because you will get 6.5 per cent subsidy on home loan interest. In such a case, if you are interested in SBI's 8.35% rate for 20 years at Rs 267280, then you will not have to pay 2 lakh 83 thousand rupees as interest. In this way, you will save around Rs 5.50 lakh.
How much will be the total saving If you reduce the rate of SBI, you will save Rs.1,36,000 and Rs.550,000. That is, your total savings will be around 6 lakh 86 thousand rupees. That is, if you take home from SBI loan against other banks, you will get cheaper of about 6 lakh 86 thousand rupees. However, under the Pradhanmantri Awas Yojana, you will get a subsidy even if you take a home loan from other banks.
How to apply for Loan
What will be the savings from the interest.
How much will be saved from the interest if you take a home loan of Rs 30 lakh from SBI for 20 years, then you have to pay a total of 61 lakh 80 thousand rupees (with interest). While taking home loan (interest 8.65%) from other banks, you have to pay 63 lakh 16 thousand rupees in 20 years. This will save you 1 lakh 36 thousand rupees.
Affordable House Scheme will save Rs 5.50 lakh
If your annual income is less than Rs 6 lakh and you take a loan under the Prime Minister's Housing Scheme, then from the principal amount of your home loan, you will lose Rs 267280, because you will get 6.5 per cent subsidy on home loan interest. In such a case, if you are interested in SBI's 8.35% rate for 20 years at Rs 267280, then you will not have to pay 2 lakh 83 thousand rupees as interest. In this way, you will save around Rs 5.50 lakh.
How much will be the total saving If you reduce the rate of SBI, you will save Rs.1,36,000 and Rs.550,000. That is, your total savings will be around 6 lakh 86 thousand rupees. That is, if you take home from SBI loan against other banks, you will get cheaper of about 6 lakh 86 thousand rupees. However, under the Pradhanmantri Awas Yojana, you will get a subsidy even if you take a home loan from other banks.
How to apply for Loan
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