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While taking a loan, one of the crucial factors is the interest rate. With the loan tenure easily extended to 15 years, there is a little difference in the rate of interest, which results in a considerable difference on the overall loan. Apart from this, lenders consider numerous factors while calculating Home Loan inters rates. So, if you are planning to take a home loan, here are home loan interest rates, along with factors playing a role in interest rates.
The lowest interest rate of home loan interest starts from 7.35% p.a
., and it goes up to 19% p.a
, but it differs from Bank to bank.
Get the complete list of the housing loan interest rate in India from all banks and financial institutions.
Banks/ Institutions | Interest Rates | Processing Fees |
---|---|---|
State Bank of India | 7.35% - 7.75% p.a | Rs. 2000- Rs. 10,000 |
HDFC Ltd | 7.85% -8.25% p.a | Up to 0.50% |
Union Bank of India | 7.30% - 7.55% p.a | Up to 0.50%(mac Rs. 15000) +GST |
ICICI Bank | 8.60% - 9.40% p.a | 0.50% to 1% |
Axis Bank | 8.55% - 9.40% | Up to 1% |
Bank of Baroda | 7.25% - 8.25% p.a. | 0.25% to 0.50% |
PNB Housing Loan | 8.95%- 9.95% p.a. | Up to 0.25% (max. Rs. 15,000) + GST |
LIC Housing Finance Ltd | 8.40% - 8.50% p.a. | Rs. 10,000- Rs.15,000 (+Service Tax) |
Karnataka Bank | 8.65% - 10.25% p.a. | 0.50% to 2.00% |
United Bank of India | 8.00%- 8.15% p.a. | Rs.1000/ or Above |
Vijaya Bank | 8.10% - 9.10% p.a. | 0.50 % or Max Rs. 20,000/- |
Standard Chartered Bank | 9.26% p.a. onwards | Up to 1.00% |
UCO Bank | 8.05% to 8.60% p.a. | 0.50% |
Citi Bank | 8.05% - 9.60% p.a. | Rs.10,000 |
HSBC Bank | 8.55% - 8.65% p.a. | Rs.10,000 or 1% of Loan Amount |
Bandhan Bank | 8.75% - 14.50% p.a. | 1% of Loan Amount |
Oriental Bank | 8.25% - 8.80% p.a. | 0.50% of the Loan Amount |
Sundaram Home Finance Ltd | 8.55% - 9.25% p.a. | 0.50% - 1% (min. Rs.2,000; max. Rs.20,000) |
Kotak Mahindra Bank | 8.60% - 9.40% p.a. | Up to Rs.10,000 |
DBS Bank | 8.45% - 8.95% p.a. | Up to Rs.10,000 |
Aditya Birla Capital Housing Finance | 9.00% – 12.50% p.a. | Up to 1% on the loan amount |
Indiabulls Housing Finance | 8.99% p.a. | Max. 1% on loan |
IDFC First Bank | 8.00% – 14.00% p.a. | Rs. 10,000 |
Canara Bank | 8.05% - 10.05% p.a. | 0.50% (Max. Rs.10,000) |
Federal Bank | 8.55% - 8.70% p.a. | 0.5% (Max Rs 7500) |
Andhra Bank | 8.15% - 9.20% p.a. | 0.50% (max. Rs.10,000) |
Dhanlakshmi Bank | 9.55% - 10.25% p.a. | 1% |
Bank of India | 8.00% - 8.30% p.a. | 0.25% (Max. Rs.20,000) |
Bank of Maharashtra | 8.55% – 9.00% p.a. | 0.25% |
IDBI Bank | 8.25% - 8.80% p.a. | 0.50% |
Indian Overseas Bank | 8.20% - 10.95% p.a. | 0.50% |
Karur Vysya Bank | 8.65% - 12.50% p.a. | Rs.2,500 - Rs.7,500 |
South Indian Bank | 9.00% p.a. onwards | 0.50% (Max. Rs.10,000) |
Tamilnad Mercantile Bank | 9.10% p.a. | 2% or Rs.15,000/- |
Central Bank of India | 8.00% - 8.55% p.a. | 1% (or Min. Rs.10,000) |
Tata Capital | 9.25% p.a. | 2% |
Yes Bank | 9.78% - 10.68% p.a. | Up to 2% |
Jammu and Kashmir Bank | 8.65% - 8.95% p.a. | 2%-3% |
Avas Financiers | 10% - 19% p.a. | Up to 2% plus GST |
Indian Shelter Finance Corporation | 16% p.a. | Up to 3% |
DHFL Housing Finance | 9.75% p.a. onwards | Rs 2500/- (+ GST+ document charges) |
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A home loan emi calculator is a tool for computing the EMI, interest and tenure. Accurate financial planning requires a home loan calculator, which will help you to make your plan better. It is important to evaluate the repayment capability before the option for a loan. It is an easy tool which calculates monthly instalments towards the loan repayment.
Home Loan Interest:₹311,670.87 Interest per annum:14% Total Home Payment: ₹1,311,670.87 Home Loan Amortization Schedule (Monthly)Home Loan EMI Calculator
Month No. EMI Principal Interest Cumulative Interest Pending Amount 1 ₹27,326.48 ₹15,659.81 1,400% ₹11,666.67 ₹984,340.19 2 ₹27,326.48 ₹15,842.51 1,400% ₹23,150.64 ₹968,497.68 3 ₹27,326.48 ₹16,027.34 1,400% ₹34,449.78 ₹952,470.35 4 ₹27,326.48 ₹16,214.32 1,400% ₹45,561.93 ₹936,256.02 5 ₹27,326.48 ₹16,403.49 1,400% ₹56,484.92 ₹919,852.53 6 ₹27,326.48 ₹16,594.86 1,400% ₹67,216.53 ₹903,257.67 7 ₹27,326.48 ₹16,788.47 1,400% ₹77,754.54 ₹886,469.2 8 ₹27,326.48 ₹16,984.34 1,400% ₹88,096.68 ₹869,484.86 9 ₹27,326.48 ₹17,182.49 1,400% ₹98,240.67 ₹852,302.38 10 ₹27,326.48 ₹17,382.95 1,400% ₹108,184.19 ₹834,919.43 11 ₹27,326.48 ₹17,585.75 1,400% ₹117,924.92 ₹817,333.68 12 ₹27,326.48 ₹17,790.92 1,400% ₹127,460.48 ₹799,542.76 13 ₹27,326.48 ₹17,998.48 1,400% ₹136,788.48 ₹781,544.28 14 ₹27,326.48 ₹18,208.46 1,400% ₹145,906.5 ₹763,335.82 15 ₹27,326.48 ₹18,420.89 1,400% ₹154,812.08 ₹744,914.93 16 ₹27,326.48 ₹18,635.8 1,400% ₹163,502.75 ₹726,279.13 17 ₹27,326.48 ₹18,853.22 1,400% ₹171,976.01 ₹707,425.91 18 ₹27,326.48 ₹19,073.17 1,400% ₹180,229.31 ₹688,352.74 19 ₹27,326.48 ₹19,295.69 1,400% ₹188,260.1 ₹669,057.04 20 ₹27,326.48 ₹19,520.81 1,400% ₹196,065.76 ₹649,536.23 21 ₹27,326.48 ₹19,748.55 1,400% ₹203,643.68 ₹629,787.68 22 ₹27,326.48 ₹19,978.95 1,400% ₹210,991.21 ₹609,808.72 23 ₹27,326.48 ₹20,212.04 1,400% ₹218,105.64 ₹589,596.68 24 ₹27,326.48 ₹20,447.85 1,400% ₹224,984.27 ₹569,148.83 25 ₹27,326.48 ₹20,686.41 1,400% ₹231,624.34 ₹548,462.43 26 ₹27,326.48 ₹20,927.75 1,400% ₹238,023.07 ₹527,534.68 27 ₹27,326.48 ₹21,171.91 1,400% ₹244,177.64 ₹506,362.77 28 ₹27,326.48 ₹21,418.91 1,400% ₹250,085.2 ₹484,943.86 29 ₹27,326.48 ₹21,668.8 1,400% ₹255,742.88 ₹463,275.06 30 ₹27,326.48 ₹21,921.6 1,400% ₹261,147.76 ₹441,353.46 31 ₹27,326.48 ₹22,177.35 1,400% ₹266,296.88 ₹419,176.11 32 ₹27,326.48 ₹22,436.09 1,400% ₹271,187.27 ₹396,740.02 33 ₹27,326.48 ₹22,697.84 1,400% ₹275,815.9 ₹374,042.18 34 ₹27,326.48 ₹22,962.65 1,400% ₹280,179.73 ₹351,079.53 35 ₹27,326.48 ₹23,230.55 1,400% ₹284,275.66 ₹327,848.98 36 ₹27,326.48 ₹23,501.57 1,400% ₹288,100.56 ₹304,347.41 37 ₹27,326.48 ₹23,775.76 1,400% ₹291,651.28 ₹280,571.65 38 ₹27,326.48 ₹24,053.14 1,400% ₹294,924.62 ₹256,518.51 39 ₹27,326.48 ₹24,333.76 1,400% ₹297,917.33 ₹232,184.75 40 ₹27,326.48 ₹24,617.65 1,400% ₹300,626.16 ₹207,567.1 41 ₹27,326.48 ₹24,904.86 1,400% ₹303,047.77 ₹182,662.24 42 ₹27,326.48 ₹25,195.42 1,400% ₹305,178.83 ₹157,466.82 43 ₹27,326.48 ₹25,489.36 1,400% ₹307,015.94 ₹131,977.45 44 ₹27,326.48 ₹25,786.74 1,400% ₹308,555.68 ₹106,190.71 45 ₹27,326.48 ₹26,087.58 1,400% ₹309,794.57 ₹80,103.13 46 ₹27,326.48 ₹26,391.94 1,400% ₹310,729.11 ₹53,711.19 47 ₹27,326.48 ₹26,699.85 1,400% ₹311,355.74 ₹27,011.34 48 ₹27,326.48 ₹27,011.34 1,400% ₹311,670.87 ₹0
When you apply for a loan the process examines your Credit Report. It goes through a deep check on your past and current credit. If you are having a good Credit Score, then you are likely to get a loan with a lower interest rate.
If the property is situated in the prime location or being obtained from a builder or an agency, then you can get an optimal charge on the interest rate.
The offered loan amount has the ability to influence the interest rate. Usually, if the higher the loan amount there are chances that you will get a lower rate.
The rates offered on a home loan is depending on the loan you are availing. Standard loan, such as home purchasing will come at standard rates.
The interest rate on your home loan relies on the Fixed Interest Rate or Floating Interest Rate.
Salaried applicants have a slightly lower interest rate as compared to the self-employed. Lenders have separate slabs for salaried and self-employed applicants.