SBI Vs Kotak Vs PNB Vs HDFC Bank: Interest Rates On Home Loans Compared

For residents of India who want to buy their dream home this year, now is the perfect time to do it because home loan interest rates are now affordable, with most lenders providing rates starting at 6.50 percent as a part of their festive season promotions. Let us now compare the interest rates on home loans offered by some of our country's leading banks and determine the best deal for you.

Kotak Mahindra Bank

To resident Indian citizens, Kotak Mahindra Bank offers a variety of customized home loan schemes to select from. Customers who want to take out a home loan from the bank can take advantage of a variety of perks, including no processing fees, doorstep service, easy documentation, and home loan insurance, among others. Salaried individuals between the age group of 18 and 60, as well as self-employed individuals between the age group of 18 and 65, who earn a minimum of income Rs.15,000 per month, can apply for a home loan with Kotak Mahindra Bank. To pay your monthly EMI payments based on your home loan amount, the applicable interest rate is an important factor to consider. So, check out Kotak Mahindra Bank's home loan interest rates, which are valid till November 8, 2021.

Special Balance Transfer Rate (Salaried and Self Employed)

Segment	Loan amount	Effective Rate Of Interest
Salaried	Any loan amount	6.50% onwards
Self Employed	Any loan amount	6.60% onwards

Salaried - Non Balance Transfer

Loan amount	Effective Rate Of Interest
Any loan amount	6.50% - 7.10%

Self Employed - Non Balance Transfer

Loan amount	Effective Rate Of Interest
Any loan amount	6.65% - 7.25%

State Bank of India

The country's largest lender State Bank of India is currently offering credit score linked home loans with an interest rate starting from 6.70% for a loan amount of up to Rs 30 lakhs. The interest rate is applicable for balance transfer loan cases also and SBI has also waived processing fees and occupation-linked interest premium for home loan customers as part of its festive offers. A borrower can now get a home loan for any amount at a rate as low as 6.70 percent thanks to the festive incentives. On Rs 75 lakh of loan amount with a 30-year term, the deal saves 45 basis points and the bank is also offering an interest rate of 6.90% for borrowers having a credit score of 700-750 and 6.80% for a credit score 751-800.

HDFC Bank

For a limited time, HDFC Bank is giving a home loan at an interest rate starting at 6.70 percent for loans up to Rs. 30 lakh for women (employed/self-employed professionals) with a credit score of 730 and above under the special Housing Loan Scheme. The indicated rate (s) is effective from 03rd May, 2021.

SPECIAL HOME LOAN RATES

Home/HIL/HEL/Refinance/Plot Loans
Upto 30 Lacs	Interest rates for salaried	Interest rates for self-employed
Women	6.75 to 7.25	6.75 to 7.25
Others	6.80 to 7.30	6.80 to 7.30
30.01 Lacs - 75 Lacs	%	%
Women	7.00 to 7.50	7.00 to 7.50
Others	7.05 to 7.55	7.05 to 7.55
75.01 Lacs & Above	%	%
Women	7.10 to 7.60	7.10 to 7.60
Others	7.15 to 7.65	7.15 to 7.65

ARHL LOANS SLAB-WISE

Upto 30 Lacs	Interest rates for salaried	Interest rates for self-employed
Women	6.95 to 7.45	6.95 to 7.45
Others	7.00 to 7.50	7.00 to 7.50
30.01 Lacs - 75 Lacs	%	%
Women	7.20 to 7.70	7.20 to 7.70
Others	7.25 to 7.75	7.25 to 7.75
75.01 Lacs & Above	%	%
Women	7.30 to 7.80	7.30 to 7.80
Others	7.35 to 7.85	7.35 to 7.85

TRU-FIXED LOANS - 2 YEARS SLAB-WISE

Upto 30 Lacs	Interest rates for salaried	Interest rates for self-employed
Women	7.40 to 7.90	7.40 to 7.90
Others	7.45 to 7.95	7.45 to 7.95
30.01 Lacs - 75 Lacs	%	%
Women	7.55 to 8.05	7.55 to 8.05
Others	7.60 to 8.10	7.60 to 8.10
75.01 Lacs & Above	%	%
Women	7.65 to 8.15	7.65 to 8.15
Others	7.70 to 8.20	7.70 to 8.20

Top-up Loans	Applicable Interest Rate
Top-up Loans for existing customers	7.60 to 8.10
Rates applicable to Top-up with Balance Transfer Loans	Same as HL Slabs

Punjab National Bank Home Loan Interest Rates

Punjab National Bank is also offering an interest rate starting from 6.70% on home loans above Rs 50 lakh. As a part of its Festival Bonanza Offer 2021, PNB is offering 0% processing fees/upfront fees and documentation charges. PNB has mentioned on its website that it is providing "Full waiver of upfront/processing fees and documentation charges (from 01.09.2021 to 31.12.2021)" on housing loans and Mortgage against Immovable Property (PNB my Property Loan). The bank is also offering this deal on its Car Loan, Insta Vehicle Loan (For Car), PNB Combo Loan Scheme, Personal Loan, Personal Loan to Pensioners, and Gold Loan.