Best Home Loans With The Lowest Interest Rates Starting From 6.75%

Key policy rates have been left steady by the Reserve Bank of India (RBI) thus restating its stimulative strategy on December 3 in the monetary policy review declaration. For those seeking to avail a home loan, this suggests that the prosperous days will persist. The announcement of the RBI MPC to keep policy rates steady was as anticipated, suggesting that for now, the rate cut period has come to an end. Consequently, if you have considered buying a home, there is no need to postpone your decision. At present, home loan rates are at a 15-year low in India. The interest rate on a Rs 75 lakh home loan starts from 6.75% provided by Kotak Mahindra Bank as we can see in the table below. The interest rates given below are for a home loan of Rs 75 lakhs with a term of 20 years.

Sr No	Banks & HFCs	ROI in % (p.a.)
1	Kotak Mahindra Bank	6.75
2	Punjab National Bank	6.80
3	Bank of India	6.85
4	Central Bank of India	6.85
5	Bank of Baroda	6.85
6	Canara Bank	6.90
7	Punjab & Sind Bank	6.90
8	Union Bank	6.90
9	Axis Bank	6.90
10	LIC Housing Finance	6.90
11	Bajaj Finserv	6.90
12	Tata Capital	6.90
13	Bank of Maharashtra	6.95
14	HDFC Ltd	7.00
15	ICICI Bank	7.00

LIC Housing Finance, Bajaj Finserv and Tata Capital provide home loan rates of 6.9 percent among the housing finance firms. Interest rates on home loans for all mentioned (BSE) public and private sector banks providing home loans of up to Rs 75 lakh have been deemed for data summary to tabulate the cheapest home loans. Housing finance companies (HFCs) have been taken into consideration, as mentioned on the website of the National Housing Bank (NHB). There is little consideration for banks and HFCs for which data is not accessible on their portals. In their relevant segments, banks and HFCs are classified in increasing order on the criterion of interest rate, i.e. the bank/HFC that provides the lowest home loan interest rate is classified at the top and the highest at the edge. The table considers the lowest rate offered by the bank/HFC on a Rs 75 lakh loan. The equated monthly instalment (EMI) is determined on the basis of the interest rate shown in the Rs 75 lakh loan chart with a period of 20 years. For EMI calculations processing and other applicable charges are considered to be zero.