Are you planning to buy your dream home?
But, unable to fulfill your dream just because of the lack of funds.
Don’t worry, there are many financial institutes that offer Home Loan facilities to people who
want to own their personal house.
We have prepared a proper list of interest rates of all the banks that offer Home Loan facilities.
But, before diving into the ocean of Home Loan Interest Rate, let us have a brief understanding of
the financial sector to enhance your knowledge, after all you are planning to buy your dream house,
which requires huge investments. So, before investing such a huge amount you must have a basic
understanding of the banking sector, and how it performs its tasks. What is the process of a home loan,
what interest rates do you have to pay, blah blah?
What is a Home Loan?
A Home Loan is an amount offered by financial institutions to buy a house on security.
How much Home Loan Bank can allow to the customers?
Generally, the bank can offer 80% of the total cost of the property, and the rest 20% would be borne
by the customers. It also depends on the customer’s credit score which can increase or decrease the ratio.
What is the interest percentage of a Home Loan?
The Home Loan Interest rate varies from bank to bank.
Which is the best bank that charges a minimum interest rate on a
Home Loan?
There are multiple banks that offer very competitive home loan interest rates, you can check by
visiting their sites.
Different Bank's Home Loan Interest Rates
Banks | Home Loan Interest Rate (p.a.) | Processing Fees |
South Indian Bank | Repo Rate + 3.35% p.a. onwards | 0.50% of the loan amount or a minimum of Rs. 5,000 + GST |
Dhanlaxmi Bank | ranges up to 15% p.a. | 1% of the loan amount |
Aavas Financiers | Contact the bank | 1.00% |
Reliance Home Finance | 9.75% p.a onwards | Up to 2% |
Indian Overseas Bank | 9.55% p.a. onwards | 0.15% of the loan amount subject to a maximum of Rs. 25,000 |
Yes Bank | 9.40% p.a. to 10.25% p.a. | 2% of the loan amount plus GST or Rs. 10,000, whichever is higher |
Tamilnad Mercantile Bank | 9.35% p.a. onwards | 0.50% |
Canara Bank | 9.25% p.a. onwards | 0.50% of the loan amount (min. Rs. 1,500 and max. Rs. 10,000) |
Bandhan Bank | 9.15% p.a. onwards | Contact the bank |
Axis Bank | 9.00% p.a. onwards | Up to 1% or min. Rs. 10,000 |
Punjab and Sind Bank | 8.95% p.a. onwards | Full Waiver |
Hudco Home Loan | 8.95% p.a. onwards | NA |
IDFC First Bank | 8.85% p.a. onwards | Up to 3% of the overall loan amount |
Federal Bank | 8.80% p.a. onwards | Housing Loan: 0.50% of the loan amount (min. Rs. 3,000 and max. Rs. 7,500)Property Power Loan: 1% of loan amount (min. Rs. 3,000) |
Aditya Birla | 8.80% p.a. onwards | Up to 1% |
GIC Housing Finance | 8.80% p.a. onwards | 8.80% p.a. onwards |
Kotak Mahindra Bank | 8.75% p.a. onwards | 2% |
UCO Bank | 8.75% p.a. onwards | 0.5% of loan amount min. Rs. 1500 and max. Rs. 15,000 |
HSBC Bank | 8.75% p.a. onwards | 1% of loan amount or Rs. 10,000, whichever is higher |
Jammu and Kashmir Bank | 8.75% p.a. onwards | 0.25% + GST (min. Rs. 5,000 and max. Rs. 50,000) |
PNB Housing Finance Limited | 8.75% p.a. onwards | Up to 0.50% |
Standard Chartered Bank | 8.75% p.a. onwards | 1% |
Karnataka Bank | 8.75% p.a. onwards | Contact the bank |
Indiabulls | 8.75% p.a. onwards | 0.50% onwards |
Union Bank of India | 8.70% p.a. onwards | 0.50% of the loan amount |
IDBI Bank | 8.65% p.a. | 0.50% (Rs. 2,500 - Rs.5,000) |
Bank of Baroda | 8.60% p.a. onwards | Up to 0.50% (Min. Rs. 8,500; Max. Rs. 25,000) |
Bank of Maharashtra | 8.60% p.a. onwards | 0.15% of the loan amount subject to a maximum of Rs. 25,000 |
Saraswat Bank Home Loan | 8.60% p.a. onwards | Up to Rs. 35 lakh: NilRs. 35 lakh - Rs. 50 lakh: 0.30% of loan amountRs. 50 lakh - Rs. 70 lakh: 0.40% of loan amountRs. 70 lakh - Rs. 1.40 lakh: 0.50% of loan amount |
Tata Capital | 8.60% p.a. onwards | 0.50% |
Punjab National Bank | 8.50% p.a. onwards | 0.35% (Max Rs. 15,000) |
HDFC Home Loans | 8.45% p.a. onwards* | 0.5% or Rs.3,000 whichever is higher |
Bank of India | 8.45% p.a. onwards | Up to 0.25% for individuals (Min. Rs. 1,500; Max. Rs. 20,000) |
LIC Housing Finance | 8.45% p.a. onwards | Up to 0.50% |
State Bank of India | 8.40% p.a. onwards | 0.17% |
Central Bank of India | 8.35% p.a. onwards | NIL or up to 0.50% |
Sundaram Home Finance | 7.85% p.a. | Rs.3,000 (for salaried) |
Karur Vysya Bank | 7.15% p.a. onwards | 1% of loan amount or Rs. 10,000, whichever is higher |
India Shelter Finance | 13.00% p.a. to 20% p.a. | 2.00% to 3% |
Shriram Housing | 10.49% p.a. onwards | NA |
Different Bank's Home Loan EMI Calculator
