Interest Rate and Processing charge on Home Loan by Banks (with indicative EMI)
| Lender’s Name | Floating interest rate (Per cent, per annum) | EMI per Rs one lakh (in Rs) | Processing Fee |
| Axis Bank | 8.55 – 9.4 | 871 – 926 | Up to 1% of the Loan amount subject to minimum of Rs. 10,000 |
| Bank of Baroda | 8.0 – 9.0 | 836 – 900 | .25% to .5% of loan Amount. Rs 8500 to Rs 25000. |
| Bank of India | 8.0 – 8.9 | 836 – 893 | 0.25 % of loan amount Min. Rs. 1,500/- Max. Rs. 20,000/- *Processing charge waived up to 31.03.2020 |
| Canara Bank | 8.05 – 10.05 | 840 – 968 | 0.50% (Min Rs.1500/- and Max. Rs.10,000/-) |
| Central Bank | 8- 8.10 | 836-843 | 0.50% of the Loan Amount subject to maximum Rs.20,000/- |
| Corporation Bank | 8.1 – 8.35 | 843 – 858 | Up to 0.50% of loan amount (Max Rs.50,000/‐) |
| HDFC Ltd | 8 – 8.8 | 836 – 887 | 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 (Taxes Extra) |
| ICICI Bank | 8.25 – 9.35 | 852 – 922 | 0.50% of loan amount plus applicable taxes |
| IOB | 8.2 – 8.45 | 849 – 865 | .5%, up to Rs 25000 |
| PNB | 7.9 – 8.7 | 830 – 881 | 0.35% of the loan amount Minimum- Rs. 2,500/ Maximum- Rs. 15,000/; |
| SBI | 7.9 – 8.55 | 830 – 871 | 0.40% of the loan amount plus applicable GST subject to a minimum of Rs 10000/- and maximum of Rs 30000/- plus GST |
| Syndicate Bank | 8- 8.7 | 836 – 881 | .5% of the loan amount with Min of Rs 500 |
| UCO Bank | 8.05 – 8.15 | 840 – 846 | 0.50% of the loan amount (Min Rs.1500/- & Max Rs. 15000/-) |
| United Bank | 8-8.15 | 836-846 | Waived up to 31.03.2020 |
| Union Bank | 8.05 – 8.3 | 840 – 855 | 0.50% 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 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 respective bank’s website as on 7 Mar 2020.
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