Home loans can be availed not only for purchasing a house, but for constructing as well as renovating an existing house for residential purposes.
Many banks offered attractive home loan schemes at fixed or floating rates.
Here are the interest rates of home loans offered by nationalized banks in India.
HOME LOAN INTEREST RATES
Home Loan Interest Rate Axis Bank
Axis Bank is one of the leading banks that offer attractive home loan schemes in India at the interest rates offered in both fixed and floating rates. interest rates vary from 6.90% to 12% per annum.
AXIS BANK HOME LOAN SCHEMES | INTEREST RATES |
| Axis Bank Home Loan (floating rate) | For Salaried: 6.90% p.a. -8.40% p.a. For Self-employed: 7.00 p.a.% – 8.55% p.a. |
| Axis Bank Home Loan (fixed rate) | 12.00% p.a. |
| Axis Bank Asha Home Loan | For Salaried: 10.05% pa. – 11% p.a. For Self-employed: 10.30% – 11.50% p.a. |
| Axis Bank Super Saver Home Loan | 6.90% p.a. onwards |
| Axis Bank Fast Forward Home Loan | 6.90% p.a. onwards |
| Axis Bank QuikPay Home Loan | 6.90% p.a. onwards |
| Axis Bank Power Advantage Home Loan | 6.90% p.a. onwards |
| Axis Bank Shubh Aarambh Home Loan | 6.90% p.a. onwards |
| Top-up Home Loan | 8.65% p.a. onwards |
| PMAY CLSS | 6.90% p.a. onwards |
HDFC Bank Home Loan Interest Rate
The home loan interest rate of HDFC Ltd. starts as low as 6.70% p.a. for women and generally starts at 7% for the general public. The loan tenure can extend up to 30 years.
The various home loan interest rates offered by HDFC bank are:
| HDFC HOME LOAN SCHEMES | INTEREST RATES |
| HDFC Home Loan | 6.70% p.a. – 7.85% p.a. |
| HDFC Plot Loan | 7.05% p.a. – 8.10% p.a. |
| HDFC Home Improvement Loan | 6.70% p.a. – 8.0% p.a. |
| HDFC Home Loan Top Up | 8.30% p.a. – 8.80% p.a. |
| HDFC Home Extension Loan | 6.70% p.a. – 8.0% p.a. |
| HDFC Home Loan Balance Transfer | 6.70% p.a. – 8.00% p.a. |
| HDFC Reach Home Loan | 78.75% p.a. – 14% p.a. |
| HDFC NRI Home Loan | 6.70% p.a. – 8.0% p.a. |
| HDFC Rural Housing Loan | 6.95% p.a. – 8.70% p.a. |
ICICI Bank Home Loan Interest Rates
ICICI Ltd provides eligible borrowers with affordable home loan which starts as low as 6.90% p.a. exclusive of other charges. The repayment tenure can be extended up to 30 years with flexible repayment options.
ICICI bank also offers PMAY (Pradhan Mantri Awas Yojana) scheme on housing loans.
| LOAN AMOUNT | INTEREST RATE (Salaried) | INTEREST RATE (Self-Employed) |
| Up to ₹35 lakh | 6.90% to 7.60% p.a. | 7.05% p.a. to 7.85% p.a. |
| ₹35 lakh – ₹75 lakh | 7% p.a. to 7.75% p.a. | 7.10% p.a. to 7.95% p.a. |
| Above ₹75 lakh | 7% p.a. to 7.95% p.a. | 7.10% p.a. to 8.05% p.a. |
SBI Home Loan Rate Of Interest
The State Bank Of India is offering attractive packages of home loans at floating rates with the lowest interest rate at 6.70% per annum.
The SBI rates vary based on two employment types –
- Salaried
- Self-employed
| SBI HOME LOAN SCHEMES | INTEREST RATE (Salaried) |
INTEREST RATE (Self-Employed) |
| SBI Home Loans (Term Loan) | 6.70% – 7.35% p.a. | 6.70% – 7.50% p.a. |
| SBI MaxGain (Floating Interest Card Rate) | 7.30 – 7.70% p.a. | 7.45% – 7.85% p.a. |
| SBI Insta Home Top Up Loan | 8.20% p.a. | 8.20% p.a. |
| SBI Home Top Up Loan (Term Loan) | 7.50% – 9.55% p.a. | 7.65% – 9.70% p.a. |
| SBI Home Top Up Loan (Overdraft) | 8.40% – 8.65% p.a. | 8.55% – 8.80% p.a. |
| SBI Smart Home Top-Up Loan (Term Loan) | 8.05% p.a. | 8.55% p.a. |
| SBI Smart Home Top-Up Loan (Overdraft) | 8.55% p.a. | 9.05% p.a. |
| SBI CRE Home Loan | 50 bps + Final rate | – |
| SBI Tribal Plus/CRGFT | 10 bps + Final rate | – |
| SBI Reverse Mortgage Loan | Public: 9.05% p.a. SBI Pensioners: 8.05% p.a. |
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| SBI Bridge Home Loan | First Year: 9.60% p.a. Second Year: 10.50% p.a. |
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| SBI Privilege and Shaurya | Starts at 6.95% p.a. | – |
| SBI Realty | Starts at 7.65% p.a. | – |
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