Home loan interest rates have been falling in recent months, with the Reserve Bank of India mandating commercial banks to link home loan interest rates to external benchmarks such as the repo rate.
Private banks have also reduced their interest rates on loans. Take a look at home loan interest rates of some of the largest private sector banks.
|Institution||Under Rs. 30 L||Rs. 30 Lto 75 L||Rs. 75 L plus|
|Federal Bank||8.55-8.6||8.55- 8.65||8.6-8.7|
|ICICI Bank||8.25-9.15||8.25 – 9.25||8.4- 9.35|
|J&K Bank||8.2- 8.3||8.2- 8.3||8.2- 8.6|
|Karur Vysya Bank||8.65-12.5||8.65-12.5||8.65-12.5|
|South Indian Bank||8.8||8.8||8.8|
|Tamilnad Mercantile Bank||9.1||9.1||9.1|
Data taken from respective bank’s website as on 10 Feb 2020. Compiled by BankBazaar.com, India’s leading online marketplace for loans and credit cards.