Compare the lowest home loan interest rates starting from 7.90% p.a. and apply for the best home loan. Get the complete list of current housing loan rate of interest in India from all leading banks and financial institutions.
|Banks||Interest Rates||Processing Fees|
|State Bank of India||7.90% - 8.55% p.a.||Rs.2,000 – Rs.10,000|
|HDFC Ltd.||8% - 8.30% p.a||Up to 0.50%|
|ICICI Bank||8.60% - 9.40% p.a.||0.50% to 1%|
|Axis Bank||8.55% - 9.40% p.a||Up to 1%|
|Bank of Baroda||8.15% - 9.15% p.a.||0.25% to 0.50%|
|PNB Housing Finance Ltd.||7.95% - 8.70% p.a.||Up to 1%|
|LIC Housing Finance Limited||8.40% - 8.50% p.a.||Rs. 10,000- Rs.15,000
|Karnataka Bank||8.65% - 10.25% p.a.||0.50% to 2.00%|
|United Bank of India||8.00%- 8.15% p.a.||Rs.1000/ or Above|
|Vijaya Bank||8.10% - 9.10% p.a.||0.50 % or Max Rs. 20,000/-|
|Standard Chartered Bank||9.26% p.a. onwards||Upto 1.00%|
|UCO Bank||8.05% to 8.60% p.a.||0.50%|
|Citibank||8.05% - 9.60% p.a.||Rs.10,000|
|HSBC Bank||8.55% - 8.65% p.a.||Rs.10,000 or 1% of Loan Amount|
|Bandhan Bank||8.75% - 14.50% p.a.||1% of Loan Amount|
|Oriental Bank||8.25% - 8.80% p.a.||0.50% of the Loan Amount|
|Sundaram BNP Paribas Home Finance||8.55% - 9.25% p.a.||0.50% - 1%
(min. Rs.2,000; max. Rs.20,000)
|Kotak Mahindra Bank||8.60% - 9.40% p.a.||up to Rs.10,000|
|DBS Bank||8.45% - 8.95% p.a.||upto Rs.10,000|
|Aditya Birla Capital Housing Finance||9.00% – 12.50% p.a.||upto 1% on loan amount|
|Indiabulls Housing Finance||8.99% p.a.||max. 1% on loan|
|IDFC First Bank||8.00% – 14.00% p.a.||Rs.10,000|
|Canara Bank||8.05% - 10.05% p.a.||0.50%
|Federal Bank||8.55% - 8.70% p.a.||0.5%
(Max Rs 7500)
|Andhra Bank||8.15% - 9.20% p.a.||0.50%
|Dhanalakshmi Bank||9.55% - 10.25% p.a.||1%|
|Bank of India||8.10% - 8.40% p.a.||0.25%
|Bank of Maharashtra||8.55% – 9.00% p.a.||0.25%|
|IDBI Bank||8.25% - 8.80% p.a.||0.50%|
|Indian Overseas Bank||8.20% - 10.95% p.a.||0.50%|
|Karur Vysya Bank||8.65% - 12.50% p.a.||Rs.2,500 - Rs.7,500|
|South Indian Bank||9.00% p.a. onwards||0.50%
|Tamilnad Mercantile Bank||9.10% p.a.||2% or Rs.15,000/-|
|Central Bank of India||8.00% - 8.55% p.a.||1%
(or Min. Rs.10,000)
|Tata Capital||9.25% p.a.||2%|
|Yes Bank||9.78% - 10.68% p.a.||Up to 2%|
|Jammu and Kashmir Bank||8.65% - 8.95% p.a.||2% - 3%|
|Aavas Financiers||10% - 19% p.a.||Up to 2% plus GST|
|Indian Shelter Finance Corporation||16% p.a.||Up to 3%|
|DHFL Housing Finance||9.75% p.a. onwards||Rs 2500/-
(+ GST+ document charges)
There are mainly two types of home loan interest rates charged by most of the banks.
In this system of computation, the rate remains even throughout the loan tenor. There will be no change in the interest charges since the rate remains fixed. Depending on the offer, you may be allowed to switch over to the floating rate system after completing a certain duration into the loan tenure.
Read More: Fixed Home Loan Rates
The interest charges on your home loan is subject to the current most lending rates of the bank. The rate is linked to the latest published rate of the bank which in turn depends on multiple factors such as RBIs monetary policy and lending rate revisions, the bank’s response to the revision etc.
Note: But, the floating home loan interest rates are cheaper than the fixed home loan interest rates on the first front.
There are multiple factors driven by your background and income group which influence the rate bank offers you. Let’s look at some of leading factors to help you negotiate the best rate.
The applicable interest rate on home loan consists of two components, the base rate and markup rate. The combination of two is what you will be paying on the loan. Let's explore these components to give you a better understanding.
Effective Interest Rate (EIR) = Base Rate + Markup
This MCLR based computation works out to be slightly lower than the erstwhile base rate.
The most important thing that you have look at is the cost of the house and the way you plan to finance it. There are many banks in India that offer amazing home loan schemes at affordable rates of interest. If you are confused and unable to decide which scheme you should apply for, then you must follow the rules mentioned below:
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.