Finance blogNews

Current home loan interest rates across major Indian banks

Current home loan interest rates across major Indian banks

Current home loan interest rates across major Indian banks

Are you thinking of applying for a home loan? Buying a home makes for a big life decision and requires considerable funding in the form of a loan. Now, you should definitely compare and contrast lenders depending on factors like the rates of interest offered by them. Processing fees and other charges also need to be examined in this regard. Interest rates usually range between 8.65-12% although there are sometimes concessions offered for women. However, in such cases, women should be sole applicants or first co-applicants for home loans and the property which has to be financed should be in the name of the woman herself.

Here’s taking a look at the current home loan interest rates across major Indian banks:

Financial Institution Interest Rate Processing Fee
State Bank of India (SBI) 8.70% onwards Rs.0-10, 000
Yes Bank 9.35% onwards 0.5% of loan amount/Rs. 10, 000 whichever is more
ICICI Bank 8.85% onwards 0.5-1% of loan amount
HDFC Bank 8.80% onwards Up to 0.5% of loan amount
LIC Housing Finance 8.50% onwards Rs. 5, 000 up to Rs. 1 crore and Rs. 10, 000 above Rs. 1 crore
IDFC Bank 8.90% onwards Rs. 10, 000
PNB Housing Finance 8.99% onwards Up to 1% of loan amount
IndiaBulls 8.70% onwards Up to 1% of loan amount
Axis Bank 8.70% onwards Up to 1% of loan amount
DHFL 8.70% onwards Up to 1% of loan amount
Punjab National Bank 8.85% onwards Zero
IDBI Bank 9.30% onwards 0.5% of loan amount
Bank of India 8.70% onwards Rs. 1-20, 000
Tata Capital 8.70% onwards 0.2% of loan amount
Canara Bank 8.70% onwards Depends on applicant profile
Syndicate Bank 8.75% onwards Rs. 500-5, 000
United Bank of India 8.65% onwards Depends on applicant profile
IIFL 8.75% onwards 0.75% of loan amount subject to minimum of Rs. 5, 000

 

For female applicants, SBI offers 8.65% as a special rate of interest for those who are salaried while non-salaried women borrowers have an interest rate of 8.80%. For other salaried borrowers and non-salaried borrowers, the rates are 8.70% and 8.95% respectively. HDFC Bank offers rates of 8.80-9.30% for women borrowers while rates for others are 8.85-9.35%. LIC Housing Finance has the lowest interest rate of 8.50% at present.

Share this post

Comments

comments