Home Loan Interest Rates And EMI In Top 15 Banks (September 2019)

Home Loan Interest Rates And EMI In Top 15 Banks (September 2019)

Interest rate and processing charge on home loan by banks (with indicative EMI)

Lender’s NameFloating interest rate (Per cent, per annum)EMI per Rs one lakh (in Rs)Processing Fee
Axis Bank8.9 – 9.15893 – 909Up to 1% of the Loan amount subject to minimum of Rs. 10,000
Bank of Baroda8.4 – 9.4862 – 926.25% to .5% of loan Amount. Rs 8500 to Rs 25000.
Bank of India8.45 – 8.75865 – 8840.25 % of loan amount
Min. Rs. 1,000/- Max. Rs. 20,000/-
* Processing charge waived up to 31 Dec 19
Canara Bank8.4 – 8.65862 – 8770.50% (Min Rs.1500/- and Max. Rs.10,000/-)
Central Bank8.38550.50% of the Loan Amount subject to maximum Rs.20,000/-
Corporation Bank8.6 – 9.05 874 – 913Up to 0.50% of loan amount (Max Rs.50,000/‐)
HDFC Ltd8.4 – 9.5862 – 932For Salaried Individual and Self-Employed Professionals:
Up to 0.50% of the loan amount or Rs. 3,000 whichever is higher;
Self-Employed Non-Professionals:
Up to 1.50% of the loan amount or Rs. 4,500 whichever is higher
(Taxes Extra)
ICICI Bank8.7 – 9.3881 – 919.5% (Plus applicable taxes)
IOB8.65 – 8.9877 – 893.5%, up to Rs 25000
PNB8.5 – 8.6868 – 8740.35% of the loan amount
Minimum- Rs. 2,500/
Maximum- Rs. 15,000/;
SBI8.35 – 9.05858 – 9030.35% of the loan amount, Minimum of Rs. 2,000/- and Maximum of Rs. 10,000/-
(taxes extra)
Syndicate Bank8.35858Min Rs 500 to Max Rs 5000
UCO Bank8.5 – 8.75867 – 8840.50% of the loan amount (Min Rs.1500/- & Max Rs. 15000/-)
United Bank8.45865Processing charge: 0.59%, Minimum Rs.1180/-; Maximum Rs.11800/-
Union Bank8.45 – 8.6865 – 8740.50% of the loan amount subject to maximum of Rs. 15,000 (plus applicable tax).

Note:

The EMI is based on a loan amount of Rs one lakh for a tenure of 20 years.

Interest rates are based on the floating rates system. Rate may be subject to a revision after a specified tenure depending on the bank’s t&c. The EMI range is indicative and calculated on the basis of the interest rate range as provided in the table. In an actual situation, it may include other charges and fees as per the bank’s t&c. Actual applicable interest rate may vary based on the credit profile of the loan applicant. Table data is only for the illustration purpose.

Data were taken from respective banks’ website as on September 6, 2019.

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