When I was recently exploring home loan interest rates in India, I realised how much they vary based on the bank and loan type. It can feel overwhelming at first, but breaking it down really helped me. I found that different banks offer competitive rates depending on whether you’re salaried or self-employed, and even the loan amount makes a difference.
What are the Home Loan Interest Rates?
Here’s what I discovered while researching:
Bank of Maharashtra offers some of the lowest rates, starting at 8.35%.
Union Bank of India comes close with rates beginning at 8.60%.
Other banks like Punjab National Bank, Bank of India, and Canara Bank all start at around 8.40%.
For slightly higher rates, State Bank of India and LIC Housing Finance start at 8.50%, which still feels reasonable given their reputation.
Private lenders such as Indiabulls and HDFC Home Loans start at 8.75% but offer flexible options for repayment.
Interestingly, Repco Home Finance has rates starting at 9.60%, but they cater to niche borrowers, so the rates might suit specific needs.
I found that public sector banks generally had lower rates, while private lenders gave more tailored loan options. The best way to decide is by comparing rates based on your profile and needs.
Secure Low-Interest Home Loans Effortlessly!Also Read:
What are the best home loan options available in India currently?
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Authors Of The Question
What is the current home loan interest rate in India?
bhaskar
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1 Answers
4 Year
2020-08-28T20:40:01+00:00 2025-01-02T07:08:23+00:00Comment
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