Latest Interest Rates on Home Loans

By Olga Robert
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    Home loans enable us to accomplish the dream of owning a home. In terms of tax implications this might seem like a good proposal, however, interest rates can take a toll on your financial goals.

    Even if you have already taken a home loan, you might be aware that you can change your home loan lender if you find a cheaper, better option with another bank/ financial institution to benefit your expenses. Check the latest interest rates on home loans below to make a better decision. Also Read: What is the Ideal Age to Buy a House?

    Latest Interest Rates on Home Loans

    Floating Interest Rates (%) on Home Loans provided by Housing Finance Institutions:

    Financial Institution Over or equal to Rs 30 lakh Rs 30 to 75 lakh Over Rs 75 lakh Last Updated on
    Dewan Housing 8.35 8.35 8.35 Not Available
    Tata Capital 8.45- 8.9 8.45- 8.9 8.45- 8.9 03/10/18
    PNB Housing 8.85- 11.75 8.85- 11.75 8.85- 11.75 Not Available
    Central Bank Housing 9.8-9.95 9.9- 9.95 9.9- 9.95 01/01/17
    HDFC Ltd 8.4-8.95 8.4-9.1 8.55-9.2 Not Available
    Indiabulls Housing Finance Ltd 8.4-9.75 8.4-9.75 8.4- 11.25 Not Available

    Also Read: How And When Does Floating Interest On Home Loan Change?

    Fixed Interest Rates (%) on Home Loans provided by Housing Finance Institutions:

    Financial Institution Over or equal to Rs 30 lakh Rs 30 to 75 lakh Over Rs 75 lakh Last Updated on
    PNB Housing 8.4- 11.75 8.4- 11.75 8.55- 11.75 Not Available
    Central Bank Home Fin 14-14.5 14.5 14.5 10/01/13
    HDFC Ltd 8.4-9.1 8.4-9.25 8.55- 9.35 Not Available
    Indiabulls Housing Finance Ltd 8.95-10 8.95-10 8.95-11.5 Not Available

    Floating Interest Rates (%) on Home Loans provided by Banks:

    Bank Over or equal to Rs 30 lakh Rs 30 to 75 lakh Over Rs 75 lakh MCLR   Last Updated on
    Allahabad Bank 8.3 8.3 8.3- 8.8 8.25 12/01/17
    Andhra Bank 8.45-8.5 8.45-8.5 8.45-8.6 8.4 03/15/18
    Axis Bank 8.35-8.4 8.35- 8.7 8.65-8.75 8.3 02/17/18
    Bank of Baroda** 8.4-9.4 8.4-9.4 8.4-9.4 8.4 04/07/18
    Bank of India 8.4 8.4 8.4 8.4 04/10/18
    Bank of Maharashtra 8.65 8.65 8.65-8.75 8.65 04/07/18
    Canara Bank 8.45- 8.5 8.45- 8.6 8.55- 8.65 8.4 03/07/18
    Central Bank 8.45 8.45 8.45 8.45 04/01/18
    Corporation Bank 8.75 8.75 8.75- 9.1 8.75 03/15/18
    Dena Bank 8.35-8.4 8.35-8.4 8.35-8.5 8.35 04/01/18
    Federal Bank 8.95-9.2 8.95-9.2 8.95-9.2 8.9 03/16/18
    HDFC Bank 8.4-8.6 8.4-8.75 8.55-8.85   Not Available
    ICICI Bank 8.45 - 8.8 8.45 - 8.85 8.75- 8.95 8.3 Not Available
    Indian Bank 8.4 8.4 8.4-8.5 8.4 04/09/18
    IOB 8.4 8.4-8.5 8.5-8.65 8.4 10/10/17
    IDBI Bank#* 8.35- 8.4 8.35-8.55 8.5-8.65 8.35 02/12/18
    J&K Bank 8.55- 8.65 8.55- 8.65 8.55- 8.95 8.55# 04/10/18
    Karnataka Bank#* 8.5 8.5 8.9 8.4 11/01/17
    Karur Vysya Bank 8.65-9.15 8.65-9.15 8.65-9.15 9.15 03/07/18
    Punjab National Bank 8.5-8.55 8.5-8.8.55 8.5- 8.6 8.3 04/01/18
    Punjab & Sind Bank 8.4 8.4 8.4- 8.65 8.4 03/07/18
    State Bank of India 8.35- 8.65 8.35-8.8 8.5-8.9 8.15 04/01/18
    Syndicate Bank 8.55 8.55 8.55 8.45 04/10/18
    Tamilnad Mercantile Bank 8.95 8.95 8.95 8.95 12/17/18
    UCO Bank 8.45 8.45-8.55 8.55-8.7 8.45 09/10/17
    Union Bank of India 8.45 8.45 8.45- 8.5 8.35 04/01/18
    United Bank of India 8.45 8.45 8.45 8.45 11/06/17
    Vijaya Bank 8.5 8.5 8.5 8.5 09/20/17

    Fixed Interest Rates (%) on Home Loans provided by Banks:

    Bank Over or equal to Rs 30 lakh Rs 30 to 75 lakh Over Rs 75 lakh Last Updated on
    Axis Bank 11.75 11.75 11.75 Not Available
    Corporation Bank 11.75-12.25 12.25 12.25 12/01/17
    Dena Bank 11.25 11.75 11.75 02/01/18
    HDFC Bank 8.4- 8.6 8.4- 8.75 8.55- 8.85 Not Available
    ICICI bank 8.45-9.8 8.45-10.2 8.8-10.2 Not Available
    Indian Bank 9.4 9.4 9.4-9.5 04/09/18
    IDBI bank 10.10-10.35 10.10-10.35 10.10-10.35 07/01/17
    Punjab National Bank 9- 9.05 9- 9.05 9- 9.1 Not Available
    Union Bank of India 11.4 12.4-12.65 12.65 04/01/18

    Also Read: Smart Ways to Manage your EMI on Home Loans

    Notes:

    • MCLR (marginal cost of funds based lending rate) is one-year ref rate.
    • The fixed or floating rate will vary as per the tenure of the home loan.
    • Some institutions allow fixed rate only for a period of the tenure and then switch to floating rate.

    #: The frequency of resetting MCLR is half-yearly.
    #*: The frequency of resetting MCLR is half-yearly for a plain home loan.
    **: Includes additional charges as per the risk rating of the applicant.

    Source: Websites of the institution.

    Read more about: home loan
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