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Home Loans in India

Home loans in India are ideal home buying options for many people who are looking to buy a home for the first time. These loans always helped people buy their houses despite the rising home prices.

Till date, a significant amount of investment has been made both in commercial and residential real estate markets in India. Various Indian banks offer home loans in India because offering home loans is one of their principal businesses. When you’re going to buy a home with a home loan, real estate advisors and real estate brokers normally advise that you undergo a home loan counseling session so that you can get the right home loan for your needs. Obviously, your target would be to get the loan with the cheapest interest rate.

Buying your dream home is not always a cakewalk. When it is a question of buying a home with a loan, you should keep in mind that you need to pay the loan off in installments. Getting an affordable interest rate is essential because if you don’t get a cheap rate, you might face problems in paying off the loan.

Home loan rates in India

Home loan rates in India are expected to dip because of the CRR and repo rate cuts made by the Reserve Bank of India. There are many banks in India that are willing to offer a home loan to you at an affordable rate. You can use these loans for home renovation as well. You can take a home loan from a nationalized bank since these banks offer home loans at comparatively cheaper rates than other banks. To make a knowledgeable home buying decision, you should know the home loan rates in India.

10 Year fixed home loan rates

Given below are the 10 year fixed home loan rates in India (the loan amount is 20 lakhs):

Product Name Effective Interest Rate EMI No. of EMIs Processing Fee
BOB Home Loan 9.75% Rs. 26,154 120 0.5%
IDBI Home Loan 11.00% Rs. 27,550 120 1%
PNB Home Loan 10.00% Rs. 26,430 120 0.5%
HDFC Home loan 14.00% Rs. 31,053 120 1%
Oriental Bank of Commerce Home Loan 10.00% Rs. 26,430 120 0.5%
Canara Bank Home Loan 11.25% Rs. 27,834 120 0.5%
SBI Home Loan 10.75% Rs. 27,268 120 0.25%
ICICI Home Loan 14.75% Rs. 31,961 120 0.5%
Axis Bank Home Loan 14.00% Rs. 31,053 120 1%


10 Year floating home loan rates

Given below are the 10 year floating home loan rates in India (the loan amount is 20 lakhs):

Product Name Effective Interest Rate EMI No. of EMIs Processing Fee
BOB Home Loan 8.75% Rs. 25,065 120 0.5%
IDBI Home Loan 8.75% Rs. 25,065 120 1%
PNB Home Loan 9.00% Rs. 25,335 120 0.5%
HDFC Home loan 9.00% Rs. 25,335 120 1%
Oriental Bank of Commerce Home Loan 9.00% Rs. 25,335 120 0.5%
Canara Bank Home Loan 9.00% Rs. 25,335 120 0.5%
SBI Home Loan 9.50% Rs. 25,880 120 0.25%


20 Year fixed home loan rates

Given below are the 20 year fixed home loan rates in India:

Product Name Loan Period (in years) Interest Rate EMI/Lakh
BOB Home Loan 20 9.5% 932
ICICI Home Loan 20 10.5% -
PNB Home Loan 20 9.5% 933
HDFC Home loan 20 11% 1033
Indusind Bank 20 10.5% for less than 20 lakhs and 13% for more than 20 lakhs -
Standard Chartered Bank 20 10.5% -
State Bank of India 20 12.25% -


20 Year floating home loan rates

Given below are the 20 year floating home loan rates in India (the loan amount is 20 lakhs):

Product Name Effective Interest Rate EMI No. of EMIs Processing Fee
BOB Home Loan 9.00% Rs. 17,995 240 0.5%
IDBI Home Loan 8.75% Rs. 17,674 240 1%
PNB Home Loan 9.25% Rs. 18,317 240 0.5%
HDFC Home loan 9.00% Rs. 17,995 240 1%
Oriental Bank of Commerce Home Loan 9.25% Rs. 18,317 240 0.5%
Canara Bank Home Loan 9.25% Rs. 18,317 240 0.5%
SBI Home Loan 9.75% Rs. 18,970 240 0.25%






 
Home Loans in India

Ahmedabad

Bangalore

Bhopal

Chandigarh

Chennai

Cuttack

Delhi

Gandhinagar

Ghaziabad

Gurgaon

Guwahati

Gwalior

Hyderabad

Jaipur

Kerala

Kolkata

Lucknow

Ludhiana

Meerut

Mumbai

Noida

Patna

Ranchi

Secunderabad

Shimla

Trivandrum

 
 


Home Loan Rates

10 Year fixed home loan rates

10 Year floating home loan rates

20 Year fixed home loan rates

20 Year floating home loan rates

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