Under the Income Tax Act of 1961, home loan borrowers can claim tax benefits on both the principal and interest components of their loans. Existing laws allow them to claim an income tax credit for interest repayment up to Rs 1,50,000 per year.
Bank Name | Minimum interest rate | Maximum interest rate |
|---|---|---|
Union Bank of India | 6.6% | 7.35% |
Kotak Mahindra Bank | 6.55% | 7.05% |
Canara Bank | 6.65% | 8.85% |
ICICI Bank | 6.7% | 7.4% |
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