Home Loan Interest Rates

Home Loan Interest Rate 2024- Updated Rate 8.35% p.a.

Getting a home loan is not as difficult at this time. A salaried or self-employed person gets instant home loans to make a dream home. Enjoy home loan interest rate at 8.35% p.a. Also, compare another lender to get the best rate from 24hr Loan.

Home Loan Interest Rate All Banks

Banks Interest Rates
HDFC Bank 8.50% p.a. – 10.70% p.a. 
WeRize 9.65% p.a. – 18.00% p.a. 
Tata Capital Housing8.95% p.a. onwards
LIC Housing Finance8.90% p.a. – 10.75% p.a. 
Bajaj Housing Finance8.70% p.a. onwards 
Union Bank of India8.35% p.a. onwards 
Piramal Finance 9.50% p.a. – 12.00% p.a. 
Bandhan Bank 9.15% p.a. to 15.00% p.a. 
Punjab & Sind Bank8.85% p.a. – 9.95% p.a. 
Punjab National Bank8.65% p.a. – 9.50% p.a.
State Bank of India9.15% p.a. – 10.15% p.a. 
Indian Overseas Bank9.55% p.a. – 10.95% p.a. 
Hero Fincorp 9.50% p.a. – 11.95% p.a. 
L&T Housing Finance8.60% p.a. onwards 
Aditya Birla Capital8.80% p.a. – 14.75% p.a. 
GIC Housing Finance8.45% p.a. onwards 
ICICI Bank 9.20% p.a. onwards 
 Chola Finance9.00% p.a. – 20.00% p.a. 
Yes Bank 9.40% p.a. – 10.25% p.a. 
Kotak Mahindra Bank 8.70% p.a. onwards 
Axis Bank 8.70% p.a. onwards 
IndusInd Bank 8.40% p.a. – 10.66% p.a. 
HSBC Bank 8.45% p.a. onwards 
IDFC First Bank 8.75% p.a. onwards 
Repco Home Finance 9.60% p.a. onwards 
Bajaj Housing Finance8.70% p.a. onwards 
Citi Bank  8.45% p.a. onwards 
Standard Chartered 8.75% p.a. onwards 
Karnataka Bank 8.75% p.a. – 12.75% p.a.  
Bank of Baroda 9.15% p.a. – 10.65% p.a. 
Federal Bank 8.80% p.a. onwards 
IIFL Bank8.90% p.a. onwards 
Bank of India 9.25% p.a. – 10.75% p.a. 
SMFG India Credit 9.50% p.a. – 10.50% p.a. 
IDBI Bank 8.45% p.a. onwards 
Karur Vysya Bank 9.00% p.a. – 11.05% p.a. 
South Indian Bank 8.25% p.a. – 11.00% p.a. 
RBL Bank 8.90% p.a. onwards 
Bank of Maharashtra 8.35% p.a. onwards 
Central Bank of India 8.35% p.a. – 9.35% p.a. 
DMI Housing Finance 11.00% p.a. – 15.50% p.a. 
J&K Bank 8.75% p.a. onwards 
Sundaram Home  Finance 8.75% p.a. onwards 
Dhanalaxmi Bank 9.35% p.a. – 15.00% p.a. 
Hudco Home Loan 9.25% p.a. onwards 
India Shelter Finance 10.50% p.a. – 20% p.a.

Fixed vs. Variable Interest Rate

Two types of home loan interest rates are available on the market. Borrowers should be aware of these rates.

Fixed Interest Rate

The fixed rate is a fixed interest that is constantly the same. The borrower pays the fixed EMI per month that goes through the loan repayment term.

Variable Interest Rate

Variable rates may be changed depending on a market index. Pay the monthly EMI may fluctuate if increase or decrease rep rate.

Factors Depend on Home Loan Interest Rates

Sometimes Borrower gets an 8.65% rate on a house loan and sometimes another customer obtains a home loan at a 9.25% rate. What is the cause of the difference in interest rates?  Know more about this:

Income Profile: The borrower’s income profile is one of the common factors of interest rate. A government employee gets the lowest interest compared Private sector company. Also, self-employed persons obtain housing loans at a cheap rate if they show proper vintage documents (GST File, ITR File, Trade License).

Credit Score: Your CIBIL score is the main key to opening the door. That means, get cheap house loan interest if you have a good CIBIL track. The 750+ or above credit score will get a lower interest rate compared to others.

Loan Amount: Home loan interest rates may differ based on loan amount. If one person takes a Rs. 5 lakh home loan, interest will be a little high compared Rs. 20 lakh loan-taking person. A higher amount loan comes with cheap ROI (Rate of Interest).

How to Calculate Home Loan Interest Rate

Calculating house loan interest is easy for everyone. With a single click, get the result of your home loan.

Calculate EMI

Borrowers take advantage of the Home Loan EMI Calculator to compare home loan rates. Required to fill in the blanks to get the result of the calculation. Once you field the details click on the “Calculate “ button for instant results.

  • Loan Amount
  • Interest Rate
  • Loan Tenure (Months)

Our home loan calculator will show the original results that will help to compare with other lenders.

FAQs on Home Loan Interest Rates

How to get cheap home loan interest?

Secure house loan interest at cheap rates through comparison with other lenders. Use 24hr Loan calculator to calculate interest rates and understand the best lender that provides lower rates.

What is the LTV Ratio?

The full form of LTV is the loan-to-value ratio.  The bank will calculate the property and provide a loan on property valuation. Lenders give up to 90% loan amount on property value. This way Banks calculate the LTV ratio.

What is the rate of SBI Home Loan?

State Bank of India provides cheap interest rates of 9.15% p.a. to 10.15% p.a. 

What is the interest of the Central Bank of India?

Central Bank of India offers affordable house loan interest from 8.35% p.a. to 9.35% p.a. 

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