Home Loan Interest Rate All Bank 2024
The proportion of the principal amount that the lender charges the borrower for utilizing the principal amount is known as the home loan interest rate. The cost of your house loan is determined by the interest rate that banks and other non-financial entities charge. The amount you owe your lender each month for your home loan is therefore determined by the interest rate that is applied to your payment (also known as the equivalent monthly installment). Interest rates can differ amongst lenders and are typically correlated with repo rates.
Banks | Starting Interest Rate (p.a.) | Processing Fees |
Kotak Mahindra Bank | 8.70% p.a. onwards | Salaried: 0.5% Plus taxes; Self-Employed/Commercial: 1.0% Plus taxes. |
Union Bank of India | 8.35% p.a. onwards | 100% processing fee waived for Union Home loans, valid from 16 November 2023 to 31 December 2023, CIC Score 700+ |
Bank of Baroda | 8.40% p.a. onwards | No processing fee; discounted upfront fee. |
Central Bank of India | 8.50% p.a. onwards | 0.50% up to Rs.20,000 Plus GST (waived till 31 March 2024) |
Bank of India | 8.30% p.a. onwards | Full waiver on processing fees for new home loans until 31 December 2023. |
State Bank of India | 8.60% p.a. onwards | Clean Overdraft: No charges. SBI Pension Loan: 1% or Rs.1000-10000 Plus GST. Jai Jawan Pension Loan: No charges. Xpress Credit: 1.50% or Rs.1000-15000 Plus GST. |
HDFC Home Loans | 8.50% p.a. onwards | Up to 0.50% or Rs.3000 Plus taxes, whichever is higher. Minimum retention: 50% or Rs.3000 Plus taxes, whichever is higher. |
LIC Housing Finance | 8.85% p.a. onwards | For amounts up to Rs.1 crore, it is 0.25% of the loan amount, with a maximum of Rs.15,000 Plus GST.For amounts above Rs.1 crore and up to Rs.2 cr0re, the fee is Rs.20,000 Plus GST.For amounts above Rs.2 crore and up to Rs.5 crore, the fee is Rs.25,000 Plus GST.For amounts above Rs.5 crore and up to Rs.15 crore, the fee is Rs.50,000 Plus GST. |
Axis Bank | 8.70% p.a. onwards | Up to 1% or min. Rs.10,000 Plus GST |
Canara Bank | 8.55% p.a. onwards | Contact bank |
Punjab and Sind Bank | 8.55% p.a. onwards | 0.15% of the loan amount will be charged, with a minimum of Rs.1000 and a maximum of Rs.3750. For loans above Rs.25 lakh and up to Rs.50 lakh, the fee is 0.25% of the loan amount, capped at a maximum of Rs.12500. Similarly, loans above Rs.50 lakh but less than Rs.75 lakh incur a fee of 0.25% of the loan amount, with a maximum limit of Rs.15000. Loans of Rs.75 lakh and above carry a charge of 0.25% of the loan amount. |
IDFC First Bank | 8.75% p.a. onwards | Up to 3% of the overall loan amount. |
Bank of Maharashtra | 8.35% p.a. onwards | No processing fees. |
Indian Overseas Bank | 8.85% p.a. onwards | Processing charges are completely waived, entailing a 100% exemption. |
Punjab National Bank | 8.40% p.a. onwards | Nill |
UCO Bank | 8.45% p.a. onwards | Contact Bank. |
IDBI Bank | 8.45% p.a. onwards | 0.50% (Rs. 2,500 - Rs.5,000) |
HSBC Bank | 8.45% p.a. onwards | 1% of loan amount or Rs.10,000, whichever is higher. |
Karur Vysya Bank | 8.95% p.a. onwards | Loans up to Rs.25 Lakhs incur a charge of Rs.2,500 Plus GST.Loans ranging from Rs.25 Lakhs to Rs.50 Lakhs carry a processing fee of Rs.5,000 Plus GST.For loans exceeding Rs.50 Lakhs, the processing fee is Rs.7,500 Plus GST. |
Saraswat Bank Home Loan | 8.60% p.a. onwards | Up to Rs.35 lakh: NlRs.35 lakh - Rs.50 lakh: 0.30% of loan amountRs.50 lakh - Rs.70 lakh: 0.40% of loan amountRs.70 lakh - Rs.1.40 lakh: 0.50% of loan amount |
Jammu and Kashmir Bank | 8.75% p.a. onwards | 0.50% Plus GST (min. Rs.2,000 and max. Rs.50,000) |
South Indian Bank | 8.50% p.a. onwards | 0.50% of the loan amount or a minimum of Rs. 5,000 + GST |
PNB Housing Finance Limited | 8.50% p.a. onwards | Up to 1.00% |
Federal Bank | 8.80% p.a. onwards | Contact bank |
Standard Chartered Bank | 8.65% p.a. onwards | Contact bank |
Aavas Financiers | Contact bank | 1.00% |
Karnataka Bank | 8.58% p.a. onwards | Contact bank |
Sundaram Home Finance | Contact bank | Up to 0.75% of the loan amount plus applicable GST. |
Dhanlaxmi Bank | Contact bank | 1.00% of the loan amount, Plus service tax (with a minimum of Rs.10,000 Plus service tax). |
Tata Capital | 8.70% p.a. onwards | Rs.999 Plus GST |
Tamilnad Mercantile Bank | 9.45% p.a. onwards | 0.50% of loan amount Plus GST |
Bandhan Bank | 9.16% p.a. onwards | 0.25% to 1.00% plus GST |
Yes Bank | 9.40% p.a. to 10.25% p.a. | 1.5% of the loan amount plus GST or Rs.10,000, whichever is higher |
Hudco Home Loan | 9.25% p.a. onwards | Nil |
Indiabulls | 9.30% p.a. onwards | 0.50% onwards |
Aditya Birla | Contact bank | Up to 1% |
GIC Housing Finance | 8.80% p.a. onwards | Rs.2,500 Plus Applicable GST |
Reliance Home Finance | 9.75% p.a. onwards | Up to 1.5% |
Shriram Housing | 9.50% p.a. onwards | Up to 2.5% of the loan amount Plus applicable taxes. |
India Shelter Finance | 10.50% p.a. to 20% p.a. | 2.50% Plus Taxes as processing fee |
*Home loan interest rates updated in January 2024
