Latest Home Loan Interest Rates in India

Planning to buy your dream home? Home loan is the biggest debt of anyone’s life and almost everyone can’t avoid home loan as buying own house is one of the top priority of everyone’s life. But which bank is offering the lowest interest on home loan?

When I took home loan for my house, I found SBI is the best bank with lowest interest rate. But due to some documentation problem, I did not apply home loan in SBI. Then I have approached to HDFC bank and the eligible home loan amount they showed me was not met my requirement. Finally I opted to IDBI bank and got my home loan approved. Anyway, this article is all about sharing the information on cheap home loan interest rates in India. For other home loan related topics, I will be sharing my experience time to time in this website.

home loan interest rate India

Updated 02.11.2016

SBI Home Loan Interest Rate – 9.10%  (lowest home loan interest rate 2016)

State bank of India has recently reduced their home loan interest rate and now they become the lowest home loan interest rate provider in India. In fact their reduction in interest rate is the lowest in last 6 years. Here are few details of this SBI home loan interest rate.

  • The new SBI Home Loan interest rate will be applied to only new customers for next 2 month (November, December). This is a special interest rate considering the festive season customers only.
  • For women or people applying for home loan with women co-borrowers, the interest rate will be 9.1%. For all other borrowers, home loans will be available at 9.15%. The loan disbursement will be done in 1 month as per SBI.
  • Now in case you would have applied for a 50 lakh loan, in that case you have to pay a Rs 542 per month / EMI. And one more thing, there will be no processing fee for applying this loan.

ICICI Bank launches overdraft facility for salaried home loan borrowers

ICICI bank has launched overdraft facility now. Now you can easily fund your needs like education, medical treatment, home renovation, marriage and overseas travel using the ICICI bank overdraft facility by taking a loan against this account from 5 lakh to 1 crore max. I am going to write in detail about what is an overdraft facility and how will it benefit customers.

Here you can find out an useful and updated home loan interest rates comparison table below. I may not update this table time to time with updated records. It is better to refer the official website of every bank to know the latest home loan interest rates.

Home Loan Interest Rates for 10 years, up to 75 Lakh amount

Bank Name Interest Rate
State Bank of India 9.10% (For Women), 9.15% (For Others)
Offer valid till 31 Dec 2016
ICICI Bank 9.30%(For women) – 9.35%(For Others)
HDFC Bank 9.30%(For women) – 9.35%(For Others)
LIC Housing 9.30%(For Govt Emp) – 9.40% – 9.50%(For Others)
Axis Bank 9.35% – 9.45%

Home Loan Interest Rates for 10 years, above 75 Lakh amount

Bank Name Interest Rate
State Bank of India 9.25% (For Women), 9.30% (For Others)
Offer valid till 31 Dec 2016
ICICI Bank 9.30%(For women) – 9.35%(For Others)
HDFC Ltd 9.30% (For women), 9.35% (For others)
LIC Housing 9.30%(For Govt Emp) – 9.40% – 9.50%(For Others)
HSBC Bank 9.35% – 9.45%

Home Loan Interest Rates for 20 years, up to 75 Lakh amount

Bank Name Interest Rate
State Bank of India 9.10% (For Women), 9.15% (For Others)
Offer valid till 31 Dec 2016
ICICI Bank 9.30%(For women) – 9.35%(For Others)
HDFC Bank 9.30%(For women) – 9.35%(For Others)
LIC Housing 9.30%(For Govt Emp) – 9.40% – 9.50%(For Others)
Axis Bank 9.35% – 9.45%

Home Loan Interest Rates for 20 years, above 75 Lakh amount

Bank Name Interest Rate
State Bank of India 9.25% (For Women), 9.30% (For Others)
Offer valid till 31 Dec 2016
ICICI Bank 9.30%(For women) – 9.35%(For Others)
HDFC Ltd 9.30% (For women), 9.35% (For others)
LIC Housing 9.30%(For Govt Emp) – 9.40% – 9.50%(For Others)
HSBC Bank 9.35% – 9.45%

Have you applied for home loan? Which bank looks good to you? I believe every bank is good in case of home loan considering few key facts like lowest interest rates, no pre-closure charges, good customer support. In case you have any home loan related query or doubt, kindly write a comment below. I will try my level best to answer your queries.

Latest Home Loan Interest Rates in India
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