10 Year fixed home loan rates

When you’re thinking about buying a home with a home loan, the first thing that will come in your mind is the interest rate of the loan. Most of the home loan borrowers prefer a fixed rate of interest because it makes their monthly installments uniform. It has been witnessed that borrowers are keen to know about 10 year fixed home loan rates.

About 10 Year fixed home loan rates

There are many banks in India that are offering home loans to help the borrowers make their dream of homeownership come true. There are many factors that decide whether you will be qualified for a home loan or not. These factors include the income of the borrower, the term of the loan, the amount of the loan, the creditworthiness of the borrower and various other factors. The home loan rates vary from one loan to another and it also depends on the type of loan you are taking out. You should always try to obtain a home loan from a nationalized bank since the borrowing cost is usually cheaper for these banks. You can compare loan options from various banks to get an affordable interest rate.

If you have decided to take out a 10-year home loan with a fixed interest rate, you should take the help of the Internet and find out which bank is offering the most affordable interest rate. Taking out a 10-year home loan signifies that your repayment term is not extensive and this will attract higher monthly installments. However, since you are paying off the loan quickly, there are chances that you can qualify for a moderate interest rate which will offset the outcome of higher monthly installments. You can take a 10-year home loan for various purposes which obviously include buying or renovating a home. If you want to make a wise home buying decision, you should have a fair idea about the 10 year fixed home loan rates in India:

Listed below are the 10-year fixed home loan rates that are available in India:

Product Name	Effective Interest Rate	EMI	No. of EMIs	Processing Fee
IDBI Home Loan	11.00%	Rs. 27,550	120	1%
BOB Home Loan	9.75%	Rs. 26,154	120	0.5%
HDFC Home loan	14.00%	Rs. 31,053	120	1%
PNB Home Loan	10.00%	Rs. 26,430	120	0.5%
Canara Bank Home Loan	11.25%	Rs. 27,834	120	0.5%
Oriental Bank of Commerce Home Loan	10.00%	Rs. 26,430	120	0.5%
ICICI Home Loan	14.75%	Rs. 31,961	120	0.5%
SBI Home Loan	10.75%	Rs. 27,268	120	0.25%
Axis Bank Home Loan	14.00%	Rs. 31,053	120	1%

N.B.: The loan amount has been assumed as 20 lakhs

Home loan interest rates are one of the most important factors that you should take into consideration when you are making your calculations. In most instances, the interest rate is the determinant for a borrower to focus on a particular home loan offer made by a home loan company or bank. Getting a good rate is always important when you are contemplating about borrowing a loan to buy a home.

Home Loans in India
Ahmedabad	Bangalore	Bhopal
Chandigarh	Chennai	Cuttack
Delhi	Gandhinagar	Ghaziabad
Gurgaon	Guwahati	Gwalior
Hyderabad	Jaipur	Kerala
Kolkata	Lucknow	Ludhiana
Meerut	Mumbai	Noida
Patna	Ranchi	Secunderabad
Shimla	Trivandrum