Home Loan Interest Rates List of All Banks 2024 and Calculator

The Home Loan Interest Rates List assists borrowers in finding the most competitive and favorable interest rates, helping them save money and select the best loan option that suits their financial needs

Home Loan Interest Rates List

The Home Loan Interest Rates List is a comprehensive compilation of interest rates offered by various financial institutions for home loans. This list provides potential borrowers with valuable information on the prevailing interest rates in the market, enabling them to make informed decisions when choosing a lender. It helps individuals compare and analyze the interest rates offered by different banks and lenders, considering factors such as fixed or floating rates, tenure, and loan amount.

As of now, Bank of India, UCO Bank, and LIC Housing Finance stand out with the lowest home loan interest rates, starting from 8.45% p.a. Union Bank of India, HDFC, SBI, Bajaj Housing Finance, and Tata Capital Housing Finance offer housing loans at 8.50% p.a. onwards. Canara Bank follows closely, providing home loans with interest rates starting from 8.55% p.a. However, the final interest rates for home loan applicants are subject to factors like credit score, loan amount, occupation profile, and employer’s profile. Considering even a slight difference in interest rates can significantly impact the total interest cost, it is advisable for prospective borrowers to compare rates from multiple lenders before applying for a loan.

Home Loan Interest Rates List of All Banks

Bank NameFloating Interest RatePer Lac EMIBenchmark Rates onProcessing Fee
SBI – State Bank Of India8.50% – 9.65%Rs.868 – Rs.9427.70%Nil till 31.04.2023
ICICI Bank8.75% – 9.80%Rs.884 – Rs.9525.4%2999+GST for CIBIL Score above 700, .50% + GST for Score below 700
HDFC Ltd8.65% – 9.35%Rs.877 – Rs.92217.45%3000 + Tax (Salaried), 5000 + Tax (S. Employed)
LIC Housing8.65% – 10.25%Rs.877 – Rs.98215.80%Below 1 Cr: Upto Rs.10000 + AT
Above 1 Cr: Rs.20000 + AT
Bank of Baroda9.15% – 10.50%Rs.909 – Rs.9987.70%Upto 0.5% of loan amount + GST
AXIS Bank8.60% – 9.05%Rs.874 – Rs.9038.05%Up to 1% of the Loan amount subject to a minimum of Rs.10,000/-
PNB Housing Finance8.75% – 10.95%Rs.884 – Rs.1029 0.50% Or 10,000 + GST, whichever is higher.
India Shelter Housing Finance11.99% – 18.00%Rs.1100 – Rs.0 2% – 3% (Including GST)
DMI Housing Finance12.00% – 18.00% 18%1.5% + GST
IDBI8.75% – 12.25%Rs.836 – Rs.10427.85%NIL
Union Bank of India9.00% – 10.50%Rs.830 – Rs.9397.70%0.50% of loan amount subject to a maximum of 15000 + GST
Bank of India8.65% – 10.75%Rs.824 – Rs.9427.60%0.25% of loan amount Min.Rs.1,000/- and Max. Rs.20,000/-
Piramal Housing Finance9.50%Rs.932N.A0.10% – 0.25% (GST)
L&T Housing Finance8.60%Rs.858 0.25% plus taxes (for salaried & for self-employed)
Tata Capital Housing Finance Ltd.9.15%Rs.821 – Rs.0 Upto 0.5% of loan amount + GST
HSBC Bank8.75% – 8.85%Rs.802 – Rs.8097.80%N.A
Federal Bank10.15% – 10.30%Rs.903 – Rs.9138.50%Upto Rs.7500 + GST
Central Bank of India8.80% – 9.35%Rs.766 – Rs.7937.50%0.50% of the Loan Amount subject to a maximum of Rs.20,000/-
UCO Bank8.70% – 8.95%Rs.784 – Rs.7907.55%0.5% of the loan amount, minimum Rs.1500/- & maximum Rs. 15000/-
Canara Bank8.90%- 11.25%Rs.874 – Rs.10197.65%0.50% of loan amount + GST
Kotak Bank8.85% – 9.40%Rs.890 – Rs.9268.10%Upto 1.25% of Loan amount
Indian Overseas Bank8.85% – 9.55%Rs.865 – Rs.8817.65%0.50% (max. Rs.25,000/-)
Indian BankNARs.862 – Rs.8687.65%0.230% on loan amount + GST or Max Rs.20470/-
All Banks Home Loan Interest Rates List

Home Loan Interest Rates Calculator

When it comes to home loans, it is crucial to determine the total interest you will pay over the loan’s duration. There are two methods you can use to calculate this:
EMI-based Calculation: This method involves calculating the Equated Monthly Installments (EMIs) you will pay throughout the loan tenure. By multiplying the EMI amount by the loan tenure, you can determine the total amount you will repay, which includes both principal and interest.
Amortization Schedule: This method provides a detailed breakdown of each EMI payment, illustrating the principal and interest components. By summing up the interest payments over the loan’s tenure, you can calculate the total interest you will pay.
Both methods are effective in determining your interest liability for a home loan. You can choose the one that suits your preferences and requirements.
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 Amount
  • Loan Repayment Tenure
  • Rate 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.

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All Bank Name List in India

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