India markets open in 8 hours 51 minutes

Home Loan: Which Bank Is Offering The Lowest Interest Rate?

Team BankBazaar
Photo: www.freepik.com

Home loan interest rates have been falling in recent months. Many private and public sector lenders have also been slashing their lending rates. State Bank of India (SBI) has also reduced its marginal cost of funds-based lending rate (MCLR) by 35 basis points (bps) across all tenors with one-year MCLR, effective April 10. In case you are planning to take a home loan, here are the home loan interest rates government banks are offering.

Institution Under Rs. 30 L Rs. 30 L to 75 L Rs. 75 L plus
Allahabad Bank 8.25- 8.65 8.25- 8.65 8.25- 8.85
Andhra Bank 8.15- 8.3 8.15- 8.2 8.15- 8.3
Bank of Baroda 7.25-8.25 7.25-8.25 7.25-8.25
Bank of India 7.25-8.15 7.25-8.15 7.25-8.15
Bank of Maharashtra 7.45- 8.6 7.45- 8.6 7.45- 8.85
Canara Bank 8.05-10.05 8.05-10.05 8.05-10.05
Central Bank 7.25-7.35 7.25-7.35 7.25-7.35
Corporation Bank 8.1-8.2 8.1-8.2 8.1-8.35
IDBI Bank 8.25- 9 8.25- 9 8.25- 9
Punjab National Bank 7.2-7.55 7.2-7.7 7.35-7.8
Punjab & Sind Bank 8.05-8.4 8.05-8.4 8.05-8.4
State Bank of India 7.15-7.55 7.15-  7.7 7.4-7.8
UCO Bank 8.05-8.15 8.05-8.15 8.05-8.15
Union Bank of India 7.1-7.5 7.1-7.5 7.4-7.55
United Bank of India 8-8.15 8-8.15 8-8.15

Data taken from respective bank’s website as on 6 April 2020. Compiled by BankBazaar.com, India’s leading online marketplace for loans and credit cards.