Home loan (Housing Loan) rate of interest is very low when compared to other type of loans such as Mortgage loan, Personal Loan, Business loan etc. It is because of the housing loan is being a priority sector lending, all banks and Housing Finance Companies are required to give home loan at lowest interest rate. In this post, we have compiled all bank’s home loan interest rate list to give you an overview in finding best interest rate for your Housing loan.
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Home Loan Interest Rate of Public Sector Banks
Presently there are 12 Public sector banks are functioning in India. All the banks are offering Home Loan (Housing Loan) to their customers at a affordable rate of interest. Here, we have compiled the list of home loan rate of interest of various public sector banks for easy selection of your lender. The list is last updated on 13th December 2021.
| S.No | Name of the Bank | Home Loan Interest Rate |
|---|---|---|
| 1 | Bank of Baroda | 6.50 onwards |
| 2 | Bank of India | 6.50% to 8.35% |
| 3 | Bank of Maharashtra | 6.40% onwards |
| 4 | Canara Bank | 6.90% to 8.90% |
| 5 | Central Bank of India | 7.10% to 7.30% |
| 6 | Indian Bank | 7.00% to 8.50% |
| 7 | Indian Overseas Bank | 7.05% to 9.80% |
| 8 | Punjab & Sind Bank | 6.85% to 7.80% |
| 9 | Punjab National Bank | 6.95% to 7.85% |
| 10 | State Bank of India | 6.80% to 7.50% |
| 11 | UCO Bank | 6.50% to 7.25% |
| 12 | Union Bank of India | 6.50% to 7.40% |
From the above given details, you can identify that which bank offers lowest home loan rate of interest among the listed public sector banks. At present, Bank of Baroda (BOB) and State Bank of India (SBI) are offering lowest interest rate than other public sector banks.
Private Sector Banks’ Home Loan Interest Rate
The following table contains the details of Housing loan interest rate of various private sector banks in India. Presently, as per RBI, there are 22 private sector banks are functioning in our Country. All these banks are offering housing loan as their flagship products at the affordable rate of interest. Find below your favorite bank which offer best housing loan interest rate.
| S.No | Name of the Bank | Home Loan Interest Rate |
|---|---|---|
| 1 | Axis Bank Ltd | 6.75% to 11.00% |
| 2 | Bandhan Bank Ltd. | 8.50% to 11.75% |
| 3 | CSB Bank Ltd | 8.30% to 9.05% |
| 4 | City Union Bank Ltd | 10.25% to 12.75% |
| 5 | DCB Bank Ltd. | 8.05% Onwards |
| 6 | Dhanlaxmi Bank Ltd. | 7.85% to 9.00% |
| 7 | Federal Bank Ltd. | 7.65% to 7.80% |
| 8 | HDFC Bank Ltd | 6.75% onwards |
| 9 | ICICI Bank Ltd. | 6.75% onwards |
| 10 | Induslnd Bank Ltd | 8.60% to 15.00% |
| 11 | IDFC First Bank Ltd. | 6.90% onwards |
| 12 | Jammu & Kashmir Bank Ltd. | 7.20% to 7.60% |
| 13 | Karnataka Bank Ltd. | 7.50% to 8.75% |
| 14 | Karur Vysya Bank Ltd. | 7.05% to 9.35% |
| 15 | Kotak Mahindra Bank Ltd | 6.55% to 7.30% |
| 16 | Lakshmi Vilas Bank Ltd. | 8.55% onwards |
| 17 | Nainital Bank Ltd. | 9.75% onwards |
| 18 | RBL Bank Ltd. | 9.25% onwards |
| 19 | South Indian Bank Ltd. | 7.95% to 9.45% |
| 20 | Tamilnad Mercantile Bank Ltd | 8.25% onwards |
| 21 | YES Bank Ltd. | 9.50% to 11.80% |
| 22 | IDBI Bank Ltd | 6.95% to 10.05% |
From the above given details, you can identify that which bank offers lowest home loan rate of interest among the listed Private sector banks. At present, Kotak Mahindra Bank, Axis Bank, HDFC Bank and ICICI Bank are offering very lowest interest rate than all other private sector banks.
Housing Loan Interest Rate of Small Finance Banks
Presently, as per RBI, there are 11 Small Finance Banks are functioning in our Country. They are all offering Housing loan to their customer at the best of their rate of interests. The following table contains the list of Housing loan interest rate of all small finance banks. You can find the best interest rate of small finance banks here:
| S.No | Name of the Bank | Home Loan Interest Rate |
|---|---|---|
| 1 | Au Small Finance Bank Limited | 8.50% onwards |
| 2 | Capital Small Finance Bank Limited | 9.50% to 10.35% |
| 3 | Equitas Small Finance Bank Limited | 10.00% to 17.00% |
| 4 | Suryoday Small Finance Bank Limited | 10.50% to 16.00% |
| 5 | Ujjivan Small Finance Bank Limited | 13.75% to 15.75% |
| 6 | Utkarsh Small Finance Bank Limited | 9.00% to 14.00% |
| 7 | ESAF Small Finance Bank Limited | 8.26% to 15.85% |
| 8 | Fincare Small Finance Bank Limited | 9.99% to 10.99% |
| 9 | Jana Small Finance Bank Limited | 11.50% to 18.75% |
| 10 | North East Small Finance Bank Limited | 10.90% onwards |
| 11 | Shivalik Small Finance Bank Limited | 10.00% onwards |
From the above given details, you can identify that which bank offers lowest home loan rate of interest among the listed Small Finance Banks. At present, ESAF Small Finance Bank Limited and Au Small Finance Bank Limited are offering very lowest interest rate for home loans than other Small Finance Banks.
Housing Finance Companies’ HL Interest Rate
Apart from commercial banks and small finance banks, there are some Non Banking Finance Companies (NBFC) also offer housing loan facility to their customer. We have also given the list of Housing loan interest of all Housing finance companies here for your better decision making.
| S.No | Home Finance Companies Name | Home Loan Interest Rate |
|---|---|---|
| 1 | Repco Home Finance Ltd | 7.75% Onwards |
| 2 | LIC Housing Finance Ltd | 6.90% to 7.90% |
| 3 | Can Fin Homes Ltd | 7.25% to 9.25% |
| 4 | Bajaj Finserve | 6.75% to 9.00% |
| 5 | Sriram Housing Finance | 8.90% Onwards |
| 6 | Sundaram Home Finance Ltd | 6.50% to 15.00% |
| 7 | L & T Finance | 7.70% to 8.45% |
| 8 | Indiabulls Housing Finance Ltd | 8.65% onwards |
Which bank offers lowest interest rate for Housing loan?
Among the above listed four categories, the following banks offer best interest rate when compared to other banks and NBFCs
- Bank of Baroda (BOB)
- State Bank of India (SBI)
- Kotak Mahindra Bank
- Axis Bank
- ICICI Bank
- LIC Housing Finance
- Sundaram Home Finance
The above mentioned interest details are gathered form the respective bank’s official website. Though we are collected these details very recently, you are advised to cross check the same in their official websites.
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