Cheapest home loan for ladies from government If you are a female and want to purchase your dream home, then this information is quite special for you. Today we will inform you about the top 5 banks that are providing special discounts for home loans to females. In addition, the interest rates of these banks are also lower than the usual loan.
Why are women getting extra discounts?
The Government of India and almost all banks are motivating women to buy property. That is why, if a woman purchases a home on loan, she gets an extra discount of maximum 5 basis points (0.05%). Besides this, most state governments also cut down stamp duty by 1% to 2%, which again increases your saving.
Banks providing home loans with lowest interest rate for women
- SBI – Interest rate starts at 9.15%
State Bank of India (SBI) offers an extra discount of 0.05% to women. Home loan rates of interest here vary from 9.15% to 10.15%, based on your credit score. - HDFC Bank – Interest rates begin from 8.95%
HDFC Bank also has a 5 basis points discount for women. Home loan interest rates here are from 8.95% to 9.85%, as they vary with the amount of the loan and your salary. - Canara Bank – From 8.85%
Women are being provided home loans by Canara Bank at the most affordable interest rate. Home loan interest rates here are from 8.85% and women are also being provided with extra discounts. - Union Bank of India – 5 basis points discount
Union Bank provides a special 0.05% discount for women borrowers of loans. Rates for home loan are competitive at this bank, and loan processing is also straightforward. - Punjab National Bank (PNB) – Special Offer for Women
PNB not only offers loans to women at low rates of interest, but also grants an extra loan of Rs 25 lakh as a home decoration loan.
DA Hike 2025: Government Announces DA Hike for Employees and Pensioners
Women also get exemption in stamp duty
In many states, if the property is purchased in the name of a woman, then there is a discount of 1% to 2% in stamp duty. This can save Rs 50,000 to Rs 1 lakh on a property worth Rs 50 lakh.
Be sure to know these things before taking a home loan
- Check your credit score (750+ is considered good).
- Compare interest rates and processing charges of various banks.
- Find out the EMI of the loan well in advance so that it is affordable in the budget.
- Check all the documents related to the property.
Conclusion
If you dream of purchasing a house, then you can save rupees thousands by availing of a home loan from these banks. This bank and government scheme is making women self-dependent. So what are you waiting for? Approach the nearest bank today and make your dream house.
