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

Team BankBazaar

A prominent public sector bank recently revised the lending rate by 5 basis points. After the Reserve Bank of India’s move last month to slash the key repo rate, many banks have been trying to pass on the rate cut benefits to its customers. Take a look at home loan interest rates being offered by the major private, public sector banks and housing finance companies in India.

Interest Rates on Home Loans ( %)
Institution Under Rs. 30 Lakh Rs. 30 Lakh to 75 Lakh Over Rs. 75 Lakh WEF
Banks
Floating Rates:
Allahabad Bank 8.55- 9.55 8.55- 9.55 8.55- 9.55 14-Jun-19
Andhra Bank 8.8- 8.85 8.8- 8.85 8.8- 8.95 15-May-19
Axis Bank 8.9-8.95 8.9- 9.1 9.05- 9.15 17-May-19
Bank of Baroda 8.6-9.6 8.6-9.6 8.6-9.6 07-Jul-19
Bank of India 8.75- 8.8 8.75- 8.8 8.75- 8.8 10-Jul-19
Bank of Maharashtra 8.6- 9.1 8.6- 9.1 8.6- 9.35 07-Jul-19
Canara Bank 8.6- 8.65 8.6- 8.8 8.6- 8.85 07-Jul-19
Central Bank 8.5 8.5 8.5 01-Jul-19
Corporation Bank 8.6-8.95 8.6-8.95 8.6-9.2 15-Jun-19
Dena Bank NA NA NA NA
Federal Bank 8.75-9.15 8.75-9.15 8.75-9.15 16-Jun-19
HDFC Bank 8.6- 9.3 8.6- 9.55 8.85 9.6 01-Jun-19
ICICI Bank 8.7 8.7 – 9.15 9.15-  9.3 01-Jul-19
Indian Bank 8.75- 8.85 8.75- 8.95 8.85- 9.1 03-Jul-19
IOB 8.65 8.65- 8.75 8.75-8.9 10-Apr-19
IDBI Bank 8.75- 8.85 8.75- 9 8.9- 9.15 12-Jun-19
J&K Bank 8.65- 8.75 8.65- 8.75 8.65-  9.05 10-Jul-19
Karnataka Bank 8.9 8.9 8.9- 9 17-Jun-19
Karur Vysya Bank 8.9- 11.65 8.9- 11.65 8.9- 11.65 NA
Punjab National Bank 8.6-8.65 8.6-8.65 8.6-8.7 01-Jul-19
Punjab & Sind Bank 8.75 8.75 8.75- 9 16-Jun-19
State Bank of India 8.5- 8.8 8.5-  9.05 8.75-9.2 10-Jul-19
South Indian Bank 9.1-9.5 9.1-9.5 9.1-9.5 20-Jun-19
Syndicate Bank 8.65 8.65 8.65 15-Jun-19
Tamilnad Mercantile Bank 9.2 9.2 9.2 Oct-18
UCO Bank 8.65 8.65- 8.75 8.75- 8.9 10-Jun-19
Union Bank of India 8.65- 8.75 8.65- 8.75 8.65- 8.8 01-Jul-19
United Bank of India 8.55 8.55 8.55 17-Jun-19
Fixed Rates:
Axis Bank 12 12 12 NA
Corporation Bank 11.95- 12.45 11.95- 12.45 11.95- 12.45 15-Jun-19
Dena Bank NA NA NA NA
HDFC Bank 9.4- 10.10 9.4- 10.25 9.55- 10.3 01-Jun-19
IDBI bank 10.25-10.5 10.25-10.5 10.25-10.5 12-Mar-19
Punjab National Bank 9.15- 9.2 9.15- 9.2 9.15- 9.25 NA
Union Bank of India 11.4 12.4-12.65 12.65 01-Dec-18
Vijaya Bank NA NA NA NA
Housing Finance Companies
Floating Rates:
Dewan Housing >=9.75 >=9.75 >=9.75 NA
Tata Capital 9.25- 9.35 9.25- 9.6 9.35- 9.6 07-Jan-19
Piramal Capital & Housing Finance >=9 >=9 >=9 NA
PNB Housing 9.05- 12.5 9.05- 12.5 9.1- 12.5 NA
Central Bank Housing 10.1- 11.3 10.1- 11.8 10.1- 11.8 01-Dec-18
HDFC Ltd 8.6- 9.25 8.6- 9.55 8.85- 9.6 NA
Indiabulls Housing Finance Ltd 8.8- 12 8.8- 12 8.8- 12 NA
Fixed Rates:
PNB Housing NA NA NA NA
Central Bank Home Fin NA NA NA NA
HDFC Ltd 9.4- 10.10 9.4- 10.25 9.55- 10.3 NA
Indiabulls Housing Finance Ltd NA NA NA NA
Note:
Fixed interest rates may be subject to a revision after a specified tenure depending on the bank’s T&Cs. Some banks/FIs allow fixed rate only for a definite period and thereafter prevailing floating rates are made applicable. Data taken from respective bank’s website as on 12 Jul 2019. Compiled by BankBazaar.com
^^3 Month MCLR
** 1 Year MCLR ref rate;
^MCLR Reset frequency for Home Loans – Half Yearly
^^^ Interest range consider rate on the basis of 6 month and 1 year MCLR both
* Interest range consider rate on the basis of 3 month and 1 year MCLR both

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