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Home Loan Interest Rates Comparison in India

Bank Home Loan Rate Processing Fee
HDFC BANK 8.55% To 9.05% 1% + GST
LIC HFL 8.40% To 9.05% 0.25% + GST
ICICI HFC 9.10% 0.25% +GST
ICICI BANK 9.05% To 9.25% 0.5% + GST
PNB Housing Finance Limited. 9.50% To 10.50% Salaried 0.2% + GST, SENP 0.5% + GST
Piramal H.F. 8.80% To 9.50% 0.1% + GST
YES BANK 9.10% To 11.50% fix ROI 5 Years 10000 +GST
AXIS BANK 8.75% 11800 + GST
IIFL 9.5% 2500/-
IDBI BANK 8.75% 5900/- + GST
Bajaj Finance 9.75% To 11% 1%
Fullerton India H.F. 10.50% 1.5% + GST
HDFC (LTD) BANK 8.75% To 9.80% 0.5% + Gst
Hero Fincorp 9.75% 0.25% + GST
Edelweiss H.F. 9.15% 0.5% + GST
Hinduja H.F. 8.80% 0.25% + GST
The South Indian Bank 9.60% 0.5% + GST
Bank Of Baroda 8.65% To 9.65% 5900/- + GST
KOTAK MAHINDRA BANK 9.85% To 11.85% 1% +GST
IDFC FIRST BANK 9.50% To 12% 0.20% To 1% Gst
SBI BANK 8.50 To 9.05% 0.5% + GST
RBL 8.60% To 9.05% 2500 To 10000 + GST
ADHAR HOUSUING FINANCE LTD (GP PROPERTYS LOAN) 11.75% To 16.00% 1.25% +Gst
UJJIVAN SMALL FINANACE BANK LTD 12% TO 15% 1.25% To 2% + gst
AAVAS FINANCIERS LIMITED 9.5% % TO 10% 1% To 2%
GIC Housing Finance HL 9.10% to 11.50%fix ROI 5years 10000 +GST
Aditya Birla H.F. 8.55% To 9.75% 1% To 2%
L & T Housing Finance HL9.3% 0.5% pf
Federal Bank HL 8.75% 11800 Pf

As per the current rates, SBI, Bank of Baroda, United Bank of India, PNB offer the lowest home loan interest rate of 8.55%. These rates can vary depending upon the value of the property and your repayment capacity. Higher the loan amount, higher will be the rate of interest. After the latest home loan rate revision announced by SBI, Bank of Baroda, United Bank of India, PNB in 2019, new home loan interest rates start from 8.55% for home buyers as well as for those who want to transfer their loan from other banks.


Quick Guide on Home Loan

Purpose : Home loan can be used for purchasing a new house, construction of house on a plot, home improvement, extension and renovation of your existing house.

Key Features :

  • Eligibility : Loan available for both salaried and self-employed borrowers within the age group of 21 and 75 years.
  • Security : Mortgage of home you are planning to purchase, renovate or construct.
  • Loan Amount : In the range of Rs. 10 Lakh to Rs. 1000 Cr.
  • Loan to Property Value Ratio : Varies from 75% to 100%.
  • Loan Tenure : Can range from 5 to 35 years.
  • Interest rates : Home loan Interest Rates starting from 8.55%. Special rates for women borrowers.
  • Lowest EMI : Lowest EMI of Rs. 774 per lakh.
  • Processing Fees : Up to 1% of loan amount or Maximum Rs. 10,000.
  • Prepayment Charges : Nil charges on floating rate home loans
  • Other Charges : Legal charges, technical charges etc.
  • Documents Required : Address Proof, Identity Proof, Income

Top Home Loan Providers : Banks and Home loan companies such as SBI, ICICI Bank, HDFC Bank, Axis Bank, HDFC, PNB Housing.

Popular Home Loan offers : Banks offer schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc. Banks also offer overdraft facility to save interest on house loan. Some of the popular home loan schemes are SBI special rates for women, HDFC Reach, Axis Bank 12 EMIs offer, Bank of Baroda pre-approved loans, Indiabulls e-home loans etc.


List of Documents for Home Loan

Documents required Salaried Self Employed
Application Form Signed with photographs Signed with photographs
Identity Proof PAN card, Passport, Driving License, Aadhaar Card, Voter id, Govt issued i-card PAN card, Passport, Driving License, Aadhaar Card, Voter id, Govt issued i-card
Certificate and Proof of Business Existence PAN, Sales tax/ Excise/ VAT/ Service tax registration, Copy of partnership deed, Trade license, Certificate of practice, Registration certificate issued by RBI, SEBI
Address Proof Passport, Driving License, Election ID card, Electricity/ Telephone/ Mobile bill/ Bank statement (not more than 3 months old) Bank statement, Utility bill, Registry copy, Lease or rent agreement, TAN allotment letter
Income Proof Form 16, Latest 6 months salary slip, Last 6 months bank statement Last 2 years ITR, Last 6 months bank statement
Age Proof PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate
Property Documents Past title chain - Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension Past title chain - Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension