A home loan is probably the biggest loan that one takes. Not only in terms of the loan one pays can be double of what was borrowed. But a home loan is among the cheapest loans available, and usually it is the only way a person can buy a house.
A home loan is called a ‘good’ loan because it helps you acquire a tangible asset that can appreciate over the long-term. It makes sense to buy a house if you plan to live in it.
This is also the reason, apart from the fact that many housing projects in India continue to be delayed.
Here’s a look at the lowest home loan interest rates of some leading banks.