Home Loan Interest Rates
Compare the lowest home loans interest rate starting from 6.80% p.a. and apply for the best Home Loan Get All the complete list of current housing loan interest rate in India from all reputed banks and financial institutions.
How to Calculate Home Loan Interest Rates?
In general, home loans are long-term loans and it is important to figure out your overall interest liability towards the loan at the first place. You can calculate the same using one of the two methods listed below:
- EMI Calculator: You can calculate the interest amount applicable to your home loan by simply using a home loan EMI calculator. You will be required to fill up the fields provided on the calculator with the following details –
- Home Loan AmountLoan Repayment TenureRate of Interest
- EMI Calculation Formula: Alternatively, you can also use the following formula to calculate your EMI liability for your home loan-
EMI = [P x r x (1+r)^n]/[(1+r)^n-1]
Wherein, P is Principal, r is rate of interest, and n is number of instalments or loan tenure in months.
Home Loan Interest Rate of all Reputed Banks 2023
| Banks | Starting Interest Rate (p.a.) | Processing Fees |
| Kotak Mahindra Bank | 8.65% p.a. onwards | 0.50% |
| Citibank | 6.80% p.a. onwards | Rs. 10,000 |
| Union Bank of India | 8.75% p.a. onwards | – |
| Bank of Baroda | 8.50% p.a. onwards | Contact the bank for information |
| Central Bank of India | Contact the bank | Rs. 20,000 |
| Bank of India | 8.65% p.a. onwards | – |
| State Bank of India | 8.85% p.a. onwards | 0.35% onwards |
| HDFC Home Loans | 8.60% p.a. onwards* | 0.5% or Rs.3,000 whichever is higher |
| LIC Housing Finance | 8.90% p.a. onwards | Rs. 10,000 -Rs. 15,000 |
| Axis Bank | 8.60% p.a. onwards | Rs. 10,000 |
| Canara Bank | 8.85% p.a. onwards | 0.50% of the loan amount |
| Punjab and Sind Bank | 8.60% p.a. onwards | Full Waiver |
| IDFC First Bank | 8.75% p.a. onwards | Rs. 5,000 – Rs. 5,000 |
| Bank of Maharashtra | 8.35% p.a. onwards | Rs. 10,000 |
| Indian Overseas Bank | 9.30% p.a. onwards | 0.50% (Max Rs. 20,000) |
| Punjab National Bank | 8.55% p.a. onwards | 0.35% (Max Rs. 15,000) |
| UCO Bank | 8.75% p.a. onwards | 0.15% (Rs. 1,500 – Rs. 15,000) |
| IDBI Bank | 8.75% p.a. onwards | 0.50% (Rs. 2,500 – Rs.5,000) |
| HSBC Bank | 8.35% p.a. onwards | 1% (Rs. 10,000) |
| Karur Vysya Bank | 8.95% p.a. onwards | Rs. 5,000 |
| Saraswat Bank Home Loan | 8.60% p.a. onwards | Nil |
| Jammu and Kashmir Bank | 8.00% p.a. onwards | Rs. 500 – Rs. 10,000 |
| South Indian Bank | Repo Rate + 3.35% p.a. onwards | 0.50% (Rs. 5,000 – Rs. 10,000) |
| PNB Housing Finance Limited | 8.75% p.a. onwards | Up to 0.50% |
| Federal Bank | 9.90% p.a. onwards | Rs. 3,000 – Rs. 7,500 |
| Standard Chartered Bank | 8.40% p.a. onwards | 1% |
| Aavas Financiers | Contact the bank | 1.00% |
| Karnataka Bank | 8.67% p.a. onwards | Rs. 250 |
| Sundaram Home Finance | Contact the bank | Rs.3,000 (for salaried) |
| Dhanlaxmi Bank | Contact the bank | Rs. 10,000 |
| Tata Capital | 8.95% p.a. onwards | 0.50% |
| Tamilnad Mercantile Bank | 8.75% p.a. onwards | Rs. 15,000 |
| Bandhan Bank | 8.65% p.a. onwards | 1% (Rs.5,000) |
| Yes Bank | 8.95% p.a. onwards | 1% (Rs. 10,000) |
| Hudco Home Loan | 8.35% p.a. onwards | NA |
| Indiabulls | 8.95% p.a. onwards | 0.50% onwards |
| Aditya Birla | 8.50% p.a. onwards | 1% |
| GIC Housing Finance | 8.10% p.a. onwards | Rs. 2,500 |
| Reliance Home Finance | Contact the bank | Rs. 3,000 – Rs. 6,500 |
| Shriram Housing | 9.50% p.a. onwards | NA |
| India Shelter Finance | 13.00% p.a. onwards | 2.00% |
