PC: lokmat.news18
SBI, the country's largest public sector bank, also generally offers home loans only for 30 years. The loan can be offered by the bank for a maximum period of 33 years after availing of the additional facility as an add-on.
Bajaj Housing Finance offers home loans with the longest tenure. This finance company offers home loans for a maximum tenure of 40 years. Earlier the company was giving only 30 years time period. Apart from increasing the tenure, the company has also offered the lowest EMI. The company said that during this period the customer has offered an EMI of Rs 733 per Rs 1 lakh.
ICICI Bank is offering a maximum home loan tenure of 30 years. That is, the home loan borrower from this private sector bank will be given a period of 30 years to repay it.
HDFC, the largest private sector bank, has also offered a maximum tenure of 30 years to its customers. The bank is currently offering home loans at an introductory interest rate of 8.50 percent. From here on, the borrower will have to pay an EMI of Rs 769 per Rs 1 lakh.
Another public sector bank PNB Housing also offers a maximum tenure of 30 years. The maximum repayment period of 30 years is given to the borrower by this bank.
Bank of Baroda also offers a maximum tenure of 30 years to its customers. The maximum tenure has been kept at 30 years. So the customer gets only that much time to repay the loan. The minimum tenure for a home loan with this bank is 5 years.
