If you are thinking of taking a home loan, then it is important to know which bank is offering the cheapest home loan.

Punjab & Sind Bank and Kotak Mahindra Bank have the lowest home loan interest rates.

The interest rates offered by these banks start from 6.65% per annum.

Other banks that offer home loan interest rates of less than 7% p.a. are Bank of Baroda, State Bank of India, Union Bank of India, ICICI Bank etc.

Currently HDFC Bank's home loan interest rate ranges from 6.75% to 7.85% p.a.

If you take a home loan of Rs 20 lakh, tenure of 20 years and an interest rate of 7% per annum, your monthly EMI will be Rs 15,506.

If the tenure is increased to 30 years, then your monthly EMI will be Rs 13,306.

The home loan interest rate depends on your CIBIL score, monthly income and also your age.

For complete details you can click on the link given below.