Home Loans at an all-time Low of 6.90% – The Only Silver Lining During these Challenging times of the Pandemic

24 Aug 2020

Now, our life revolves around a virus! And this unprecedented time is tagged as the new normal.

Covid-19 pandemic has changed our point of view towards life. We see things differently and understand the value of factors that were taken for granted, like owning a home.

Staying indoors have become essential for survival and we are spending more time at home than ever. We’ve also witnessed how unpredictable rented houses and room rentals have become in a situation like this. More than 28 lakh cases have been reported during the pandemic in the country and more than 50,000 cases are being reported each day. And it’s during such times we understand that it is more of a necessity than a luxury to own a house. The pandemic has shown us the significance, security and safety of owning a home.

The Covid-19 situation was an eye-opener. It showed us how things can be temporary. Unemployment, plunging stocks were the unexpected enlightenment we needed. But amidst all this the real estate market has managed to sway through smoothly making it a low risk investment.

The 15-year low home loan interest rate of 6.95% is an icing on the cake. This makes this market an ideal investment and also an affordable time to buy that dream home of yours. At the beginning of the year the home loan interest rates varied from 9% to 12% and now the lowest offered is 6.90%. Below is the table showing the current interest rates for home loans offered by many banks.

United Bank of India 6.90
State Bank of India 6.95
ICICI Bank 6.95
HDFC Bank 6.95
Bank of Baroda 7.25
Axis Bank 7.75

Long gone are those days where you had to toil for years to fulfill the dream of owning a home. It’s become an essential commodity in life and a financial investment. So, if you had been waiting for the right time to make your move, it won’t get better than this. Why not make the best of the situation?

When life gives you lemons make lemonade!

Still thinking…?

Talk to our real estate expert to get a deeper understanding about the home loans offered, and various projects of Heather Homes, one of the leading builders in Trivandrum and Kerala.

Feel free to call us up or write to us!