Current Home Loan Interest Rates 2022
| Interest Rate | Starting @ 6.65% Check Best Offers |
|---|---|
| Processing Fee | Up to 0.25% |
| Loan Tenure | 5 to 30 years |
| Lowest EMI Per Lakh | Rs. 642 for 30 years |
| Prepayment Charges | Nil |
- Home loan interest rates can be floating or fixed in nature.
- Interest rates remain unchanged throughout the tenure for fixed interest rate home loans.
- Interest rates fluctuate depending on the RBI or bank’s policies, and other external factors for floating interest rate based home loans.
- Interest rates on home loans can be linked to Repo Rate or MCLR (Marginal Cost of Funds Based Lending Rate).
- The interest rates for home loans have become highly affordable in the last couple of years.
Compare Lowest Home Loan Interest Rates of All Banks - 2022
| Bank Name | Interest Rate | EMI/Lakh (in Rs. for 20 year tenure) | Processing Fees |
|---|---|---|---|
| PNB Home Loan | 7.15% - 8.20% | Rs. 675 - Rs. 748 | Up to 0.35% of loan amount (Maximum Rs. 15,000) |
| Indian Bank | 6.90% - 8.80% | Rs. 659 - Rs. 790 | Up to 0.30% of loan amount (Maximum Rs. 20,470) |
| Bank of India | 6.90% - 8.75% | Rs. 659 - Rs. 787 | Maximum Rs. 50,000 |
| Bank of Baroda | 6.90% - Rs.8.25% | Rs. 659 - Rs. 751 | Up to 0.50% of loan amount (Minimum Rs. 8,500 & Maximum Rs. 25,000) |
| Indian Overseas Bank | 7.45% - 7.70% | Rs. 696 - Rs. 713 | Up to 0.50% (Maximum Rs. 25,000) |
| SBI | 6.65% - 7.55% | Rs. 642 - Rs. 703 | Up to 0.50% of loan amount + GST |
| Union Bank of India | 6.90% - 8.60% | Rs. 659 - Rs. 776 | Up to 0.50% of loan amount (Maximum Rs. 15,000) + GST |
| IDBI Bank Limited | 6.75% - 9.90% | Rs. 649 - Rs. 870 | Up to Rs. 20,000 + taxes |
| Central Bank of India | 7.25% - 7.70% | Rs. 682 - Rs. 713 | Up to 0.50% of loan amount (Maximum Rs. 20,000) |
| HDFC Bank | 7.00% - 7.60% | Rs. 665 - Rs. 713 | Up to 1.50% of loan amount or Rs. 4,500, whichever is higher + applicable taxes. |
| Canara Bank | 7.05% - 9.30% | Rs. 669 - Rs. 826 | 0.50% of loan amount (Minimum Rs. 1,500 & Maximum Rs. 10,000) |
| UCO Bank | 7.30% - 10.60% | Rs. 686 - Rs. 922 | 0.5% of loan amount (Minimum Rs. 1,500 & Maximum Rs. 15,000) |
| Bank of Maharashtra | 6.80% - 8.70% | Rs. 652 - Rs. 783 | 0.25% of loan amount (Maximum Rs. 25,000) |
| Jammu & Kashmir Bank Ltd. | 7.35% - 7.75% | Rs. 689 - Rs. 716 | 0.25% of loan amount + GST (Minimum Rs. 5,000 & Maximum Rs. 25,000) |
| LIC Housing Finance | 6.75% - 7.20% | Rs. 649 - Rs. 679 | 0.50% of loan amount + GST |
| Citibank | 6.50% - 6.90% | Rs. 632 - Rs. 659 | Up to Rs. 5000 |
| Axis Bank | 7.00% - 7.30% | Rs. 665 - Rs. 686 | Up to 1% of loan amount (Minimum Rs. 10,000) |
| Federal Bank Ltd. | 8.05% - 8.15% | Rs. 737 - Rs. 744 | 0.50% of loan amount (Min. Rs. 3,000 - Rs. 7,500) |
| Kotak Mahindra Bank Ltd | 7.00% - 7.60% | Rs. 665 - Rs. 706 | Up to 2% of loan amount + GST & other statutory levies |
| Karnataka Bank Ltd. | 7.50% - 8.85% | Rs. 699 - Rs. 794 | As mentioned by the bank |
| Karur Vysya Bank Ltd. | 7.15% - 9.35% | Rs. 675 - Rs. 830 | Minimum Rs. 2,500 & Maximum Rs. 7,500 + GST |
| ICICI Bank | 7.10% - 7.95% | Rs. 672 - Rs. 730 | Up to 2% of loan amount or Rs. 2,000, whichever is higher + GST |
| South Indian Bank Ltd. | 7.35% - 9.60% | Rs. 689 - Rs. 848 | 0.50% of loan amount (Minimum Rs. 5,000 & Maximum Rs. 10,000) |
| Tamilnad Mercantile Bank Ltd. | 8.25% | Rs. 751 | 0.50% of loan amount + taxes |
| Piramal Housing Finance | Starting from 10.50% | Rs. 915 onwards | Up to 3% of loan amount + applicable taxes |
| IDFC First | 6.70% - 8.90% | Rs. 645 - Rs. 797 | Up to Rs. 10,000 |
| Bandhan Bank | 6.80% - 11.90% | Rs. 652 - Rs. 1021 | 0.50% of loan amount |
| Dhanlaxmi Bank Ltd. | 7.85% - 9.00% | Rs. 723 - Rs. 805 | 1% of loan amount (Minimum Rs. 10,000) + service tax |
| YES Bank Ltd. | 6.70% - 11.80% | Rs. 645 - Rs. 1013 | 1% of loan amount or Rs. 10,000, whichever is higher + GST |
| Bajaj Finserv | 6.75% - 14.00% | Rs. 649 - Rs. 1185 | Up to 1% of loan amount (Minimum Rs. 700) |
Lowest interest rate on Home Loan
Currently, Citibank Home Loan and Kotak Mahindra Bank Home Loan are available at the lowest interest rate starting at 6.65% p.a. Other leading banks offering low home loan rates are SBI, HDFC, and ICICI. As current housing loan interest rate are at decadal low, you can seal the best housing finance deal ever this year from a lender of your choice.
Home Loan Details and Offers
Below are some common Home Loan details of various housing loan offers offered by different banks and other financial institutions:
| Loan Amount | Rs. 1 Lakh - Rs. 5 Crores |
| Tenure | 5 year - 30 years |
| Interest Rate | 6.65% - 12.75% |
| EMI Per 1 Lakh | Rs. 642 - Rs. 1087 |
| Processing Fees | Up to 1% of the sanctioned loan amount |
| Prepayment Charges | Nil for floating interest rate based home loans |
| Purposes | House purchase, construction of residential property,plotpurchase andHouse Constructionthereon, repair/renovation/extension of self-owned house. |
