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Home Loan Interest Rates are the main factors to consider before availing the housing loan. When people secure the lowest Home Loan Interest Rates, it reduces the overall cost of housing loan and minimizes monthly payments. Home buyers should consider various factors, like interest rates, fees and terms, to procure the best home loan.

 

Home Loan Interest Rates - Updated

Bank Home Loan Interest Rates Processing Fees
Axis Bank

Floating Rate: 9.60% for Salaried
9.70% to 11.75% for Self-employed
(varies according to Loan Amount)
Fixed Rate: 11.75% p.a.

Up to 1% of the loan amount
Punjab National Bank Floating Rate: 9.75% to 11.75%
Fixed Rate: 9.75% to 12.00%
NIL

ICICI Bank Women Borrower: 9.60% p.a.
Floating Rate: 9.65% p.a. to 9.90% p.a.
Fixed Rate: 9.65% to 9.90%
0.5% of the loan amount as Administrative Fee or Rs. 2,000, whichever is higher
PNB Housing Finance Floating Rate: 9.75%
Fixed Rate: 9.75% to 10.75%
0.5%  + 12.36% (Service Tax)
IndiaBulls Floating Rate: 9.60% to 11.75%
Fixed Rate: 10.05% to 12.00%
Upto and including Rs 30 lacs: Risk Class-I: Rs 5000, Risk Class-II & III: 0.50%
Rs 25.01 lacs to Rs 150 lacs: Risk Class-I: Rs 15000, Risk Class-II & III: 1.00%
Over Rs 150 lacs: Risk Class-I: 0.50%, Risk Class-II & III: 1.00%
HDFC Bank Women Borrower: 9.60% p.a.
Variable Rates: 9.65% to 10.15%
Fixed Rates: 9.65% to 10.15%
0.5% of the loan amount applied plus applicable service taxes and cess.
State Bank Of India Only Floating Rate: 9.50% to 10.00%(irrespective of loan limit) Up to Rs. 25 Lacs: 0.125% of loan amount, minimum Rs. 1,000/-
Above Rs. 25 Lacs and up to Rs. 75 Lacs: Rs. 3,250/-
Above Rs. 75 Lacs: Rs. 5,000/-
Takeover: Rs. 1,000/- per account, irrespective of the loan amount.
Reliance Capital 10.25% to 12.00% 1% + 12.36% (Service Tax)
IDBI Bank Floating Rate: 10.00%
Fixed Rate: 10.50% to 10.75%
Up to .50% of loan amount
(Rs 2500 to be collected at login and balance at the time of sanction
Tata capital Housing Finance ltd. 9.70% to 10.25% p.a. 0.5% to 1% + 12.36% (Service Tax)
HSBC Home Loan 9.55% to 11.10% p.a. Rs. 10000 + 12.36% (Service Tax)
Bank of Baroda Floating Rate: 9.65% NIL
Bank of India Floating Rate: 9.70% to 10.20% @0.25% of loan amount Min.Rs.1,000 and Max. Rs.20,000
(Waived till 31.03.2013 for new loans sanctioned and 1st disbursement before 31.03.2013)
Syndicate Bank 10.00% to 10.75% p.a. Rs.700/- per lac or part thereof with a minimum of Rs.1000/- at present. (Processing charges are subject to change from time to time)
First Blue 10.25% p.a. to 11.50% p.a. Salaried: Up to 30 lacs : 7304
30 – 75 lacs : 11800
75 lacs & above : 15,500 + service tax(12.36%)
DHFL 11.00% p.a.-12% p.a. For Salaried individuals: It is 1% of the loan amount
For Self – employed Professionals / Non Professionals: It is charged at 1.5% of the loan amount, plus Service Tax and Cess as applicable.
Citibank 10.5% p.a. to 12% p.a. 0.25% (for salaried ), 0.50% ( for Self Employed)
Central Bank of India Upto Rs.30 lakh and above Rs.30 lakh & < Rs.75 lakh: 10.25%, Rs.75 lakh & above: 10.50% NIL
Oriental Bank of Commerce 10.50% 0.50% of the loan amount, subject to maximum of Rs. 20000/- plus  service tax, if any
Canara Bank Up to Rs.75 lakhs: 10.25% to 10.50%, above Rs.75 lakhs: 10.50% Nominal processing fee of 0.50% (Min Rs.500/- and Max. Rs.10,000/-) is charged.
Corporation Bank Floating Rate: Upto Rs.50 lakh: 10.50%, Above Rs.50 lakh & upto Rs. 1 crore: 10.75%, Above Rs.1 crore: 11.00
Fixed Rate: Upto Rs.25 lakh: 13.35%, Above Rs.25 lakh: 13.85%
0.50% of Loan amount (Maximum Rs.50,000/-)
Allahabad Bank Above Rs. 30 Lac and up to Rs. 75 Lac: 10.45%, Above Rs. 75 Lac and up to Rs. 300 Lac: 10.70%, Above Rs. 300 Lac and up to Rs. 500 Lac: 10.95% 0.50% of loan amount, Maximum Rs. 10,000/-
Union Bank of India Floating Rate: Upto 75 Lakh: 10.50%, 75 to 500 Lakh: 10.75%
Fixed Rate: Up to 30 Lakh: 12.25%, 30 Lakh to 50 Lakh: 13.25%, 50 Lakh to 200 Lakh: 13.50%
Processing charges are 0.50% of the loan amount subject to maximum of Rs. 15,000
(Processing charges waived upto 31/03/2013)
Indian Overseas Bank Up to Rs.30 lakh: 10.50%, Above Rs.30 lakh & up to Rs.75 lacs: 10.75, Above Rs.75 lacs: 10.75% to 11.25% A flat rate of 0.58% of the loan amount- maximum of Rs. 10,190/- There is no hidden charge.(Processing charges are subject to change from time to time)
Bank of Maharastra 10.50% Loan above Rs. 25 Lakh: 0.50% (Max. Rs. 50,000/-)
ING Vysya 10.50% p.a. to 12% p.a. 0.5% of the loan amount
UCO Bank 12.25% p.a. to 12.75% p.a. NIL
Kotak Bank 10.75% 0.25% to 0.5%  + 12.36% (Service Tax)
United Bank of India Upto Rs. 25 lac: 10.70%, Above Rs. 25 lac & upto Rs. 75 lac: 10.75%, Above Rs. 75 lac & upto Rs. 150 lac: 11.00% Waived
Deutsche Bank 10.5% p.a. to 11% p.a. Rs. 10000 + 12.36% (Service Tax)
Barclays Bank 11% p.a. to 11.25% p.a. 0.25% to 0.5%  + 12.36% (Service Tax)
Federal Bank 10.50% 0.50%
Vijaya Bank 11.50% p.a. to 12.55% NIL
Development Credit Bank 11.5% p.a. 0.5%  + 12.36% (Service Tax)
State Bank of Travancore 11.25% p.a. NIL
LIC Housing Finance Interest Rates Up to 30 Lacs: Scheme-I : 10.80%
Scheme-II : 10.70% (Fixed for 3 yrs), From 30 lacs to 75 Lacs: Scheme-I : 10.80%
Scheme-II : 10.70% (Fixed for 3 yrs) (Up to 40Lacs),
Scheme-I : 11.15%
Scheme-II : 11.20% (Fixed for 3 yrs)
From 75 lacs to 1.5 Crore: Scheme-I : 11.15%
Scheme-II : 11.20% (Fixed for 3 yrs)
Up to 50 lacs : 10,000 +(Service tax)
50 lacs & above : 15,000 +(service tax)
Dhanalakshmi Bank 12.25% p.a. to 12.75% p.a. Rs.3500 to Rs.5000  + 12.36% (Service Tax)
Indian Bank 11.25% p.a. 0.25% to 0.5%  + 12.36% (Service Tax)
Dena Bank 10.30% NIL

 

Tips for availing best home loan interest rates

 

Determine the loan type: Home Loan Interest Rates is the main consideration while comparing the various loans. Fixed and adjustable rates are the two various categories of interest rate. People have to consider the rate according to their requirements, but fixed rate is the best option to choose.

 

Credit Rating and Financially Stability: Various lending institutions assign the interest rate on the basis of the credit score of the consumers. Consumers who have a high credit rating score, will get the low housing loan interest rates. Find and compare interest rates through online tools of comparison, which permit borrowers to compare rates of different financial institutions.

 

Fees and Charges: Various lending institutions charge fees including settlement fees, appraisal fees, broker fees and loan processing fees. Compare fees of different lenders before availing the housing loan. Select the loan that provides the lowest Home Loan Interest Rates.

 

Types of Interest Rates:

  1. Fixed interest rates
  2. Floating interest rates

Fixed interest rates: Fixed interest rates mean a person can give the constant rate throughout the tenure period. It does not vary according to the market fluctuation.

 

Floating interest rates: Floating interest rate mean interest rates vary according to the market fluctuation. Person does not give same interest rate throughout the tenure period.