Home Loan Interest Rates And EMI In Top 15 Banks (May 2020)

Home Loan Interest Rates And EMI In Top 15 Banks (May 2020)

Interest rate and processing charge on home loan by banks (with indicative EMI)

Lender’s nameFloating interest rate (Per cent, per annum)EMI per Rs one lakh (in Rs)Processing fee
Axis Bank8.1-8.85843-890Up to 1% of the loan amount, subject to a minimum of Rs 10,000.
Bank of Baroda7.25-8.25790-8520.25% to 0.5% of the loan amount (Rs 8,500 to Rs 25,000).
Bank of India7.25-8.15790-8460.25% of the loan amount (Minimum of Rs 1,500 and maximum of Rs 20,000).
Canara Bank7.3-9.3793-9190.50% (Minimum of Rs 1,500 and maximum of Rs 10,000).
Central Bank7.25-7.35790-7960.50% of the loan amount subject to a maximum of Rs 20,000.
Indian Bank7.55-7.9809-8300.230% on the loan amount, with a maximum of Rs 20,470.
HDFC Ltd7.85-8.75827-884For salaried individuals 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 Bank7.7-8.8818-8870.50% of the loan amount, plus applicable taxes.
IOB7.45-7.7803-8180.5%, up to Rs 25,000.
PNB7.2-7.8787-8240.35% of the loan amount (Minimum of Rs 2,500 and maximum of Rs 15,000).
SBI7.35-8.0796-8360.40% of the loan amount plus applicable GST, subject to a minimum of Rs 10,000 and maximum of Rs 30,000, plus GST.
South Indian Bank8.1-9.35843-9220.50% of the loan amount (Minimum of Rs 5,000 and maximum of Rs 10,000).
UCO Bank7.3-7.4793-7990.50% of the loan amount (Minimum of Rs 1,500 and maximum of Rs 15,000).
Kotak Mahindra Bank8.2-9.25849-916Maximum of 2% of the loan amount.
Union Bank7.1-7.55781-8090.50% of the loan amount, subject to a 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 purposes.

Data taken from respective bank’s website, as on May 7, 2020.

Be the first to comment

Leave a Reply

Your email address will not be published.


*