BANK INTEREST RATES
Current Plot Interest Rates : 2021
|Banks||Interest Rate (p.a.)|
|SBI Plot Loans||6.75% – 7.30%|
|HDFC Plot Loans||7.05% – 7.95%|
|ICICI Bank Land Loan||7.00% – 7.80%|
|Federal Bank Plot Loan||7.65% – 7.80%|
|Shriram Housing Finance||8.90%|
|PNB Housing Plot Loan||8.55% -10.55%|
|Karnataka Bank Plot Loan||10.89%-12.09%|
|Maharashtra Bank Plot Loan||6.95%-7.25%|
Banks operating in the country offer plot or land loans to eligible applicants. The loans can be availed to buy a residential plot where you can build your dream home. They are provided at attractive rates and can be repaid in affordable EMIs with the maximum repayment tenure going up to 25 years.
Plot loans are a unique banking product designed to facilitate the purchase of a plot of land. Also known as land loans, it is often confused as being same as a home loan. The difference between plot and home loans is that a plot loan can be availed for the purchase of the land where the house will be constructed later.