Home Loan Guide: Best Interest Rates & Tips for Pune Buyers

Getting the right home loan can save you lakhs over the loan tenure. Here's your comprehensive guide.

Current Best Rates (January 2025): - SBI: 8.50% onwards - HDFC: 8.70% onwards - ICICI: 8.75% onwards - Bank of Baroda: 8.40% onwards - Kotak: 8.65% onwards

Eligibility Boosters: 1. Add spouse as co-applicant to increase loan amount by 40-50% 2. Club rental income with salary for higher eligibility 3. Maintain a CIBIL score above 750 for best rates 4. Choose longer tenure (25-30 years) for lower EMIs, prepay when possible

Tax Benefits: - Section 80C: Up to ₹1.5 Lakh deduction on principal repayment - Section 24(b): Up to ₹2 Lakh deduction on interest (self-occupied) - First-time buyers: Additional ₹50,000 under Section 80EEA (if applicable)

Pro Tips: 1. Always negotiate — banks have flexible rate bands 2. Compare processing fees, not just interest rates 3. Avoid top-up loans, they carry higher interest 4. Opt for reducing balance method, not flat rate

CitySales Realty has tie-ups with major banks for preferential rates. We help our clients get pre-approved before property selection.