Interest rate and processing charge on home loan by banks (with indicative EMI)
|Lender||Floating interest rate (Per cent, per annum)||EMI per Rs one lakh (in Rs)||Processing fee|
|Axis Bank||8.9-9.15||893-909||Up to 1% of the loan amount, subject to a minimum of Rs 10,000.|
|Bank of Baroda||8.65-9.65||877-942||100% waiver of processing charges, subject to recovery of out of pocket expenses of Rs7,500 plus GST.|
|Bank of India||8.7-9.6||881-939||0.25% of the loan amount (Minimum of Rs 1,000 and maximum of Rs 20,000) **Processing charges waived up to March 31, 2019.|
|Canara Bank||8.7-8.9||881-893||0.50% (Minimum of Rs 1,500 and maximum of Rs 10,000).|
|Central Bank||8.65||877||0.50% of the loan amount, subject to a maximum of Rs 20,000.|
|Corporation Bank||8.65-9.3||877-919||Up to 0.50% of the loan amount (Maximum of Rs 50,000).|
|HDFC Ltd||8.8-9.2||887-913||For 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.|
|ICICI Bank||9.1-9.3||906-919||0.5%, plus applicable taxes.|
|IOB||8.7-8.95||881-897||0.5%, up to Rs 25,000.|
|PNB||8.65-8.75||877-884||0.35% of the loan amount (Minimum of Rs 2,500 and maximum of Rs 15,000)*Fully waived till March 31, 2019.|
|Syndicate Bank||8.75||884||Minimum of Rs 500 to maximum of Rs 5,000.|
|UCO Bank||8.7-8.95||881-897||0.50% of the loan amount (Minimum of Rs 1,500 and maximum of Rs 15,000).|
|United Bank||8.65||877||0.59% (Minimum of Rs 1,180 and maximum of Rs 11,800).|
|Union Bank||8.7-8.85||881-890||0.50% of the loan amount, subject to a maximum of Rs 15,000 (plus applicable taxes). Note: 50% concession in processing charges based on CIBIL score, March 31, 2019.|
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 rate system. Rates may be subject to revision after a specified tenure, depending on the bank’s terms and conditions. The EMI range is indicative and is calculated, based on the interest rates given in the table. In an actual situation, it may include other charges and fees, as per the bank’s terms and conditions. The actual interest rate may vary, based on the credit profile of the loan applicant. Data in the table is only for illustration purpose.
Data taken from the respective bank’s websites, as on March 3, 2019.