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Home Loan Interest Rate – Current Home Loan Interest Rate

Home Loan Interest Rate - Current Home Loan Interest Rate

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Home Loan Interest Rate – Current Home Loan Interest Rate

Home Loan Interest Rate – Current Home Loan Interest Rate Home Loan Interest Rate of all Banks 2022 ; IIFL, 10.50%, 1.25% ; DHFL Housing Finance, 8.75%, Rs. 2500 ; Bandhan Bank, 6.40% -13.50%, 1% (Rs.5,000) ; Yes Bank …
Bajaj Finserv Home Loan*: 7.50 to 11.15
HDFC Bank: 7.40 to 8.20
State Bank of India (SBI): 9.50 to 10.50
Axis Bank: 12.00

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Home Loan Interest Rates of Top Private Sector Banks

Kotak Mahindra Bank 7.50% onwards 7.50% onwards 7.50% onwards
ICICI Bank 7.60% – 8.20% 7.60% – 8.35% 7.60% – 8.45%
Axis Bank 7.60% – 12.50% 7.60% – 12.50% 7.60% – 8.05%
Karur Vysya Bank 7.15% – 9.35% 7.15% – 9.35% 7.15% – 9.35%
South Indian Bank 8.25% – 11.00% 8.25% – 11.00% 8.25% – 11.00%
Karnataka Bank 7.89% – 9.14% 7.89% – 9.14% 7.89% – 9.24%
Federal Bank 8.55% – 8.60% 8.60% – 8.65% 8.65% – 8.70%
Dhanlaxmi Bank 7.85% – 9.00% 7.85% – 9.00% 7.85% – 9.00%
Tamilnad Mercantile Bank 7.95% onwards 7.95% onwards 7.95% onwards
Bandhan Bank (GRUH Home Loan) 7.30% – 13.50% 7.30% – 12.65% 7.30% – 12.65%
RBL Bank 10.30% – 12.00% 8.70% – 9.10% 8.70% – 9.00%

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HDFC Limited offers low home loan interest rates starting from 7.55*% p.a. This rate of interest is applicable to Home Loans, Balance Transfer Loans

Home Loans – Avail Home Loans with affordable EMI and longest repayment tenure at best interest rates ranging from 9.35percentage to 10.50percentage.

Depending on the interest rate, a home loan is of three types, fixed-rate, floating rate and hybrid.

  • Fixed Rate Loans

Fixed interest rate remains the same throughout the loan period, thereby, keeping the home loan EMI constant. Applying for a home loan at a fixed rate of interest is better when the current home loan rate of interest is quite low and an upward trend is anticipated in the future. But considering the current trend of decreasing lending rates, banks provide customers with an option to switch over to the variable/floating housing loan interest rates after completing a specific time.

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  • Floating Rate Loans

Floating interest rate, also known as the variable rate of interest, is subject to the current market lending rates; and thus, they may change during the loan tenure. The home loan EMIs will increase or decrease as per the interest rate movement. With the current trend of decreasing home loan rates, it will be advantageous for prospective home loan borrowers to apply for home loans at a floating rate of interest.

  • Hybrid Loans

Hybrid rate home loans are a mix of fixed-rate and floating rate home loans. They will initially have a fixed interest rate for a set period, after which it will change into the floating rate of interest. Such housing loans are best suited for those who got the loan at a low fixed rate and plan to prepay or foreclose it before the floating rate starts.

Home Loan Interest Rate - Current Home Loan Interest Rate
Home Loan Interest Rate – Current Home Loan Interest Rate

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