Bank of India home loan rates. Bank of India revised their Repo Linked Lending Rate to 9.35% effective from February 08, 2023. According to the bank website, “The effective RBLR w.e.f 08.02.2023 is 9.35% as per the revised Repo rate (6.50%).”. The bank’s Base Rate has been revised from 8.80% pa. to 9.10% pa. effective from January 1, 2023. For a home loan of Rs. 75 lakh at ICICI Bank, the floating rate of interest for salaried borrowers ranges from 8.1% to 8.85%. The interest rate for loans over Rs. 75 lakh is 8.1–8.95%. In the initial monetary policy review meeting of 2023-24, the Reserve Bank of India chose to maintain the repo rate, which is the primary benchmark interest rate, at 6.5 percent. In accordance with the current interest rates, the lender may review the interest rate and reset it after a predetermined period of time under the terms of a home loan. This provision enables lenders to raise interest rates in line with a rise in market rates. The home loan interest rate of customers changes when the reset date arrives. Floating rate loan where purpose of loan is for business(non- Home loan) and borrowers are individuals and/or non-individual/s. 4% of the outstanding loan amount +applicable taxes 3. Fixed rate housing loan or limited period fixed rate housing loan* 2% +applicable taxes 4. Fixed rate non housing loans. 4% + applicable taxes. Conversion fees The answer depends on your requirements and the interest rates offered to you. The home loans offered by both SBI and ICICI come with attractive terms. For instance, ICICI offers loans up to Rs. 3 crores whereas SBI offers up to Rs. 10 crores but the interest rate for SBI starts from 6.95% whereas, for ICICI, it is at 6.75%. SBI, for the 9th consecutive time in the financial year 2019-20, has cut the MCLR with the latest one effective from February 10, 2020. SBI cut the MCLR by 0.05% across tenors. With that, its 1-year MCLR has fallen to 7.85% from 7.90% earlier. Taking that into consideration, the interest rate on home loans stands at 7.95%-8.65% per annum. Charges for Balance Transfer for Salaried. Charges. Rates*. Login/Application Fee (for KYC checks and other documents, before your transfer is approved) ₹ 5,000*. Processing/ Administrative Fees (Charged at the time of sanction) 0.75% of the loan amount or ₹ 11,000, whichever is higher*. It is the start of the new month and few banks have announced revisions in their marginal cost of funds-based lending rates or MCLR. Banks that have revised loan interest rates are ICICI Bank, Punjab National Bank, Bank of India and Bandhan Bank. Here a look at the latest MCLR of these four banks. 2. ICICI Bank Home Loan. ICICI Bank is well known for its simplified documentation process with speedy approvals. They offer loans for house purchase, house constructions and top-up home loans. ICICI offers fixed interest rates and floating interest rates up to Rs.5 crores with 30 years of the loan tenure. The home loan interest rate is charged FEle.