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 | 8.9 – 9.15 | 893 – 909 | Up to 1% of the Loan amount subject to minimum of Rs. 10,000 |
| Bank of Baroda | 8.4 – 9.4 | 862 – 926 | .25% to .5% of loan Amount. Rs 8500 to Rs 25000. |
| Bank of India | 8.45 – 8.75 | 865 – 884 | 0.25 % of loan amount Min. Rs. 1,000/- Max. Rs. 20,000/- * Processing charge waived up to 31 Dec 19 |
| Canara Bank | 8.4 – 8.65 | 862 – 877 | 0.50% (Min Rs.1500/- and Max. Rs.10,000/-) |
| Central Bank | 8.3 | 855 | 0.50% of the Loan Amount subject to maximum Rs.20,000/- |
| Corporation Bank | 8.6 – 9.05 | 874 – 913 | Up to 0.50% of loan amount (Max Rs.50,000/‐) |
| HDFC Ltd | 8.4 – 9.5 | 862 – 932 | 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 | 8.7 – 9.3 | 881 – 919 | .5% (Plus applicable taxes) |
| IOB | 8.65 – 8.9 | 877 – 893 | .5%, up to Rs 25000 |
| PNB | 8.5 – 8.6 | 868 – 874 | 0.35% of the loan amount Minimum- Rs. 2,500/ Maximum- Rs. 15,000/; |
| SBI | 8.35 – 9.05 | 858 – 903 | 0.35% of the loan amount, Minimum of Rs. 2,000/- and Maximum of Rs. 10,000/- (taxes extra) |
| Syndicate Bank | 8.35 | 858 | Min Rs 500 to Max Rs 5000 |
| UCO Bank | 8.5 – 8.75 | 867 – 884 | 0.50% of the loan amount (Min Rs.1500/- & Max Rs. 15000/-) |
| United Bank | 8.45 | 865 | Processing charge: 0.59%, Minimum Rs.1180/-; Maximum Rs.11800/- |
| Union Bank | 8.45 – 8.6 | 865 – 874 | 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 rates system. Rate may be subject to a revision after a specified tenure depending on the bank’s t&c. The EMI range is indicative and calculated on the basis of the interest rate range as provided in the table. In an actual situation, it may include other charges and fees as per the bank’s t&c. Actual applicable interest rate may vary based on the credit profile of the loan applicant. Table data is only for the illustration purpose.
Data were taken from respective banks’ website as on September 6, 2019.
