Perfect time to buy your Dream Home

Perfect time to buy your dream home in Patna. Check now your flat in Patna with the best builders in Patna.

To purchase a flat most people generally prefer bank loans. In 2003-2004 the home loan interest was very high (approx 8%). In the last 15 years, the home loan interest has fallen below 8%. 

How 2020-2021 is the perfect time to buy your home?

2020-2021 has become the COVID-19 era and due to COVID, working professionals are already struggling to hold their jobs and monthly expenses. So many people have lost their jobs. In meanwhile, banks have given a ray of hope for those who are dreaming of buying a home/flat in Patna. 

In this year RBI revised monetary policies to gear up the economic rise in India. State bank of India is offering a home loan at an interest of 6.9%, It is the record drop in the last previous years.

The interest which we paid on the loan as well as the monthly EMI burden both reduce and give some relaxation to the buyer. Banks are offering 80-90% of the loan amount, so you don’t need to think much about money upfront. 

A Short brief on the interest rates for some of the popular banks.

Home Loan Interest rates by Leading Banks:

• SBI is offering its home loan at the starting rate of interest @ 6.80%.
• Canara Bank offers its home loan at the starting rate of interest @ 6.90%.
• Home loan’s interest is starting of HDFC Bank is 6.95%
• Punjab National Bank home loan’s interest starting @ 7.85%.
• Bank of India is offering its home loan at the starting rate of interest @ 6.85%.

Other than the loan cost decrease, another ideal factor for forthcoming homebuyers is the repo rate decrease reported by RBI during the cross-country lockdown. With repo rate cut by 40 premise focuses (100bps=1 percent), the repo rate currently remains at a record-breaking low of 4% and the converse rate is at 3.35%. 

Thinking about this load of perspectives, house buying is turning out to be increasingly more reasonable for the average person. Having a super durable home isn’t only a little glimpse of heaven however it is additionally a method of getting your family’s future. The land is an ideal speculation choice on these unsure occasions as it guarantees you great returns. Regardless of whether you are not intending to remain in the home, you can bring in cash through rental payments. 

New borrowers (if qualified) can likewise apply for sponsorship under the Pradhan Mantri Awas Yojana (PMAY) plot. It is a credit connected endowment conspire where center pays bunch – I (MIG – I) with pay between Rs 6 lakh and Rs 12 lakh can profit revenue appropriation of 4% though center pay bunch – II (MIG – II) with pay between Rs 12 lakh and 18 lakh can get revenue sponsorship of 3% under the plan.

Conclusion – Are you finding a flat in Patna or anywhere else? Perfect time to buy your dream home. Banks are offering cheap loan interest on Home Loans. So Find the best builders in Patna and book your flat now.