Home Loan Interest Rates

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About Home Loan Interest Rates

Home Loan Interest Rates

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 

BankHome Loan Interest RatesProcessing Fees
Axis BankFloating 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 BankFloating Rate: 9.75% to 11.75%
Fixed Rate: 9.75% to 12.00%
NIL
ICICI BankWomen 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 FinanceFloating Rate: 9.75%
Fixed Rate: 9.75% to 10.75%
0.5%  + 12.36% (Service Tax)
IndiaBullsFloating 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 BankWomen 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 IndiaOnly 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 Capital10.25% to 12.00%1% + 12.36% (Service Tax)
IDBI BankFloating 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 Loan9.55% to 11.10% p.a.Rs. 10000 + 12.36% (Service Tax)
Bank of BarodaFloating Rate: 9.65%NIL
Bank of IndiaFloating 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 Bank10.00% 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 Blue10.25% 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%)
DHFL11.00% 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.
Citibank10.5% p.a. to 12% p.a.0.25% (for salaried ), 0.50% ( for Self Employed)
Central Bank of IndiaUpto Rs.30 lakh and above Rs.30 lakh & < Rs.75 lakh: 10.25%, Rs.75 lakh & above: 10.50%NIL
Oriental Bank of Commerce10.50%0.50% of the loan amount, subject to maximum of Rs. 20000/- plus  service tax, if any
Canara BankUp 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 BankFloating 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 BankAbove 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 IndiaFloating 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 BankUp 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 Maharastra10.50%Loan above Rs. 25 Lakh: 0.50% (Max. Rs. 50,000/-)
ING Vysya10.50% p.a. to 12% p.a.0.5% of the loan amount
UCO Bank12.25% p.a. to 12.75% p.a.NIL
Kotak Bank10.75%0.25% to 0.5%  + 12.36% (Service Tax)
United Bank of IndiaUpto 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 Bank10.5% p.a. to 11% p.a.Rs. 10000 + 12.36% (Service Tax)
Barclays Bank11% p.a. to 11.25% p.a.0.25% to 0.5%  + 12.36% (Service Tax)
Federal Bank10.50%0.50%
Vijaya Bank11.50% p.a. to 12.55%NIL
Development Credit Bank11.5% p.a.0.5%  + 12.36% (Service Tax)
State Bank of Travancore11.25% p.a.NIL
LIC Housing Finance Interest RatesUp 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 Bank12.25% p.a. to 12.75% p.a.Rs.3500 to Rs.5000  + 12.36% (Service Tax)
Indian Bank11.25% p.a.0.25% to 0.5%  + 12.36% (Service Tax)
Dena Bank10.30%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.

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