Even a small difference in home loan interest rates can increase EMIs and raise the total repayment amount over the loan tenure.
Home loan Compare home loan rates to reduce borrowing costs.Public sector banks offer loans from around 7.10%.Rates vary by credit score, income, and loan amount.Did our AI summary help? Liked this AI Summary?Join our AI WorkshopRegister FREE
If you are planning to take a home loan, comparing interest rates across lenders can help reduce your borrowing cost. While several public sector banks are offering home loans starting at around 7.10 percent, rates vary depending on factors such as your credit score, loan amount, income, employer profile and repayment history.Home loan rates are linked to the Reserve Bank of India’s monetary policy. In its latest monetary policy review, the RBI kept the repo rate unchanged at 5.25 percent.Here’s a list of home loan rates being offered by various financial institutions:Bank of Maharashtra’s interest rate ranges from 7.10 percent to 9.90 percent.Central Bank of India’s interest rate ranges from 7.10 percent to 9.15 percent.Bank of India’s interest rate ranges from 7.10 percent to 10.25 percent.Union Bank of India’s interest rate ranges from 7.15 percent to 9.60 percent.UCO Bank’s interest rate ranges from 7.15 percent to 9.25 percent.Indian Bank’s interest rate ranges from 7.15 percent to 9.55 percent.South Indian Bank offers home loans at 7.20 percent onwards.Federal Bank’s interest rate ranges from 7.35 percent to 10.25 percent.HSBC Bank offers home loans at 7.45 percent onwards.Karnataka Bank’s interest rate ranges from 7.49 percent to 11.72 percent.ICICI Bank offers home loans at 7.55 percent onwards.Kotak Mahindra Bank offers home loans at 7.60 percent onwards.LIC Housing Finance offers home loans at 7.15 percent onwards.Bajaj Housing Finance offers home loans at 7.25 percent onwards.PNB Housing Finance offers home loans at 7.50 percent onwards.ICICI Home Finance offers home loans at 7.50 percent onwards.Godrej Housing Finance offers home loans at 7.65 percent onwards.Aditya Birla Capital offers home loans at 7.75 percent onwards.Borrowers with high credit scores, usually 800 and above, are more likely to qualify for the lowest home loan interest rates. The applicable rate can also vary based on whether the applicant is salaried or self-employed.Disclaimer: The views and investment tips expressed by experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.