These days, many families desire to own a new house or apartment. A home loan is a great way that can support the financial part of buying a dream home that you always wanted to own.
There are plenty of home loan providers. But before you finalize a bank, gaining knowledge about various banks and it’s interest rates can help you save money.
Therefore, to help you, we have collected some important resources that have compared the interest rates of popular banks in India. Take a look at these comparison charts and pick a bank that can serve you better.
Contents
Loan Comparison Rates of Popular Banks in India
Here are the top three resources that clearly defines the loan comparison rates of popular banks in India.
1. Loan Comparison Rates According to My Loan Care
| Bank | Home Loan Rate | Processing Fee |
| SBI home loan | 8.25% – 1 year MCLR8.20% – Repo Rate | 0.25%Max ₹ 10,000 |
| HDFC home loan | 8.35% – PLR | 0.50%Min ₹ 3,000 – Max ₹ 10,000 |
| ICICI bank home loan | 9.05% – 1 year MCLR | 0.25%Min ₹ 5,000 – Max ₹ 5,000 |
| Axis bank | 8.60% – 6 month MCLR | Min ₹ 2,950 – Max ₹ 2,950 |
| LIC housing finance | 8.70% – PLR | 0.50% |
| Karur Vysya bank | 9.65% – 1 year MCLR | Min ₹ 5,000 |
| Indian Overseas bank | 8.65% – 1 year MCLR | 0.53%Min ₹ 8,900 – Max ₹ 13,350 |
| Union Bank of India | 8.25% – 1 year MCLR8.25% – Repo Rate | 0.50%Max ₹ 15,000 |
| Canara bank | 8.75% – 1 year MCLR | 0.50%Min ₹ 1,500 – Max ₹ 10,000 |
| IDBI bank | 8.75% – 6 month MCLR | 0.50%Min ₹ 2,500 |
| Federal bank | 8.75% – 1 year MCLR | 0.50%Min ₹ 3,000 – Max ₹ 7,500 |
| Indian bank | 8.75% – 1 year MCLR | 0.23%Max ₹ 20,381 |
| Central bank of India | 8.60% – 1 year MCLR | 0.50%Max ₹ 20,000 |
2. Loan Comparison Rates According to Paisa Bazaar
| Bank | Home Loan Rate | Processing Fee |
| SBI home loan | 8.15% onwards (Linked to RLLR) | 0.35% – 0.50% of loan amount (Min ₹ 2,000; Max ₹ 10,000) |
| HDFC home loan | 8.25% onwards (Linked to RPLR) | Up to 0.5% of the loan amount or ₹ 3,000, whichever is higher |
| ICICI bank home loan | 8.65% onwards (Linked to RLLR) | 0.50% – 1.00% of the loan amount or ₹ 1,500 – 2000, whichever is higher |
| Axis bank | 8.85% onwards (Linked to RLLR) | Up to 1% of the loan amount (Min ₹ 10,000) |
| LIC housing finance | 8.35% onwards (Linked to PLR) | As applicable |
| Indian Overseas bank | 8.45% onwards (Linked to RLLR) | Up to 1.20% of the loan amount |
| Canara bank | 8.35% onwards (Linked to RLLR) | 0.50% of loan amount (Min ₹ 1,500; Max ₹ 10,000) |
| IDBI bank | 8.50% onwards (Linked to RLLR) | Up to ₹ 10,000 |
| Federal bank | 8.55% onwards (Linked to RLLR) | 0.50% of the loan amount (Min ₹ 3,000; Max ₹ 7,500) |
| Central bank of India | 8.20% onwards (Linked to RLLR) | Up to 0.50% of loan amount (Max ₹ 20,000) |
3. Loan Comparison Rates According to Bank Bazaar
| Bank | Home Loan Rate | Processing Fee |
| SBI home loan | 8.25% p.a. – 11.50% p.a. | ₹ 2,000 – ₹ 10,000 |
| HDFC home loan | 8.35% p.a. – 8.75% p.a. | Up to 0.50%(Max ₹ 3,000) |
| ICICI bank home loan | 8.70% p.a. – 9.30% p.a. | 0.50% to 1%(Min ₹ 1,500 /₹ 2,000 city-based) |
| Axis bank | 8.90% p.a. – 12% p.a. | Up to 1%(Min ₹ 10,000) |
| LIC housing finance | 8.95% – 9.05% | ₹ 10,000- ₹ 15,000(+Service Tax) |
| Karur Vysya bank | 8.80% – 12.45% p.a. | ₹ 2,500 – ₹ 7,500 |
| Indian Overseas bank | 8.50% p.a. – 11.20% p.a. | 0.50%(Max ₹ 20,000) |
| Canara bank | 8.50% p.a. – 9.50% p.a. | 0.50%(Min ₹ 1,500; Max ₹ 10,000) |
| IDBI bank | 8.30% p.a. – 9.30% p.a. | 0.50%Min ₹ 2,500 |
| Federal bank | 8.90% p.a. – 9.10% p.a. | 0.5%(₹ 3000 – ₹ 7500) |
| Indian bank | 8.75% – 1 year MCLR | 0.23%Max ₹ 20,381 |
| Central bank of India | 8.55% p.a. | 0.50%(Max ₹ 20,000) |
* Note – All the information mentioned in our blog was collected at the time of writing.
Interest Rate Calculators
Most of the people want to estimate the interest rate of their budget. For this reason, almost every home loan providers offer an EMI calculator. Here we have listed the most popular bank’s EMI calculators with which you can calculate the interest rates and plan your budget accordingly.
SBI
HDFC
ICICI
Axis Bank
Here is a graphic that sums up the entire post.
Winding Up
If you are planning to buy a new apartment, make sure to be aware of the advantages with all the potential risks before you go with the home loan deal. Now, after reading this comparison blog you might have an idea to choose the bank with the best interest rate offers. Grab a home loan from any one of these banks and get into your dream home soon. If you like to learn about how to reduce home loan interest rates, click here.
If you are still confused, do reach Lancor. We understand your requirements and offer apartments along with the best home loan offers. You need not struggle for getting home loans instead we will take care of the home loan process and allow you to enjoy your joyful moments without any stress.