Home Loan Interest Rates

Bank Interest Rate Per lac EMI Processing fee Prepayment Charges
SBI (State Bank of India) 8.35% – 8.65% Rs.855 – Rs.874 0.35% of Loan Amount of Rs 10000 plus GST whichever is less, subject to a minimum of Rs 2000 plus taxes Nil
HDFC Ltd. 8.40% – 9.10% Rs.858 – Rs.871 Up to 1.25% of the loan amount or ₹ 3,000 whichever is higher, plus applicable taxes Nil
Bank of Baroda 8.30% Rs.855 Up to 0.5 % of loan amount + GST N.A.
AXIS Bank 8.35% – 8.75% Rs.858 – Rs.884 Up to 1% of the loan amount subject to a minimum of Rs.10,000/- Nil
Union Bank of India 8.30% – 8.35% Rs.855 – Rs.858 Nil till 31.03.2018 NIL
Corporation Bank 8.65% – 9.15% Rs.877 – Rs.909 NIL NIL
HSBC Bank 8.65% – 8.75% Rs.877 – Rs.884 N.A Nil
Federal Bank 8.95% – 9.20% Rs.897 – Rs.913 Upto Rs.7500 + GST N.A
Allahabad Bank 8.30% – 8.40% Rs.855 – Rs.861 NIL under All bank Utsav till 31.03.2018 NIL
The central bank of India 8.30% Rs.855 0.50% of the loan amount + GST Nil
Canara Bank 8.35% – 8.55% Rs.858 – Rs.871 0.50% of the loan amount + GST Nil
Kotak Bank 8.35% Rs.858 Up to 1.25% of the loan amount Nil
Syndicate Bank 8.45% Rs.865 N.A N.A
Citibank 8.60% – 8.85% Rs.874 – Rs.890 Rs. 5000 (Application fee) NIL
Punjab National Bank 8.35% – 8.45% Rs.858 – Rs.865 0.50% of loan amount + GST NIL
Bank of Maharashtra 8.65% – 8.75% Rs.877 – Rs.884 As applicable at the time of disbursement Nil
Indian Overseas Bank 8.40% – 8.65% Rs.862 – Rs.877 0.50% of the loan amount + GST N.A
Oriental Bank of Commerce 8.35% – 8.45% Rs.858 – Rs.865 0.50% of the loan amount + GST NIL
Dena Bank 8.25% – 8.35% Rs.852 – Rs.858 N.A Nil
ICICI Bank 8.35% – 8.80% Rs.858 – Rs.886 0.50% – 1.00% of the loan amount or Rs. 1500/- (Rs. 2000/- for Mumbai, Delhi & Bangalore) + GST N.A

Look at Home credit rates of every significant bank of India. Check Interest Rates 2018, Processing fee, Per lakh EMI from Nationalized/Government Banks/Private Banks. It is necessary to plan home loan monthly installments.

How to calculate interest rates?

Without calculation of the interest rate, the borrower can not take the home loan. There are different rates and the way of calculating the interest rate is different from bank to bank. Based on reducing balance, the bank decides the interest rates.

Are you looking to buy your first house?

Looking for a house is energizing, debilitating, and a touch of frightening, particularly in this market. You will probably wind up with a home you love at a value you can figure out how to pay for. Take a look at the above table and choose the best for you. Finbuket has solidified all the vital data concerning the current rate of enthusiasm on home advances given by all the significant banks in one place. The borrower can go for the home loan agreement to reduce the burden.

Which bank is best to take a home loan in India

  • Approx all the banks at present offer home loans at 8.35% per annum.
  • However, it is difficult to decide which bank is best.
  • Compare the bank account according to your eligibility, do not forget to check out the bank processing fee.
  • Check out for the bank who is providing maximum loan with the lowest processing fee.
  • Go through the banks and choose the best lender for you.

How to get the lowest home loan interest rates?

  • Housing loan depends on two things
    • Eligibility of the borrower
    • The property for which the loan is taken
  • The lender takes a few factors into account like
    • The age
    • The value of the property
    • The income of the applicant
    • Eligibility of the applicant for the lower rate.
  • Your better profile will help you in getting the loan at low-interest rates.

The borrower can get a home loan at cheap rates.