COMPARISON OF HOME LOAN / HOUSING LOAN INTEREST RATES BY INDIAN BANKS - 2016
Which Banks Charges the Lowest Interest on Home Loans / Housing Loans in 2016 ?
Best Rate of Interest on Housing Loans in India ? Comparative Housing Loan Interest Rates. Latest Home Loan Interest by Banks in India
Different banks charge different interest rates for Housing / Home Loans. The rate of interest also vary based on (a) the quantum of the loan; (b) period for which loan is intended to be availed etc. It becomes extremely important for the consumers who wish to avail Housing Loan that they are able to get the loan at lowest rate of interest so that they can save on EMI.
It is not possible to give the name of one bank which charges the lowest rate of interest for all tenures and all levels of loan amount. Moreover, these rates are frequently changed by banks and that too without informing media. Sometimes the details are not even updated on the website or they are so confusing that it becomes impossible to decipher the details. Therefore, we are giving below a broad idea as to the banks which are charging lowest rate of interest in a particular category. Readers are advised to check the same by clicking on the link of relevant bank from where they intend to avail the loan and they check the websites of the following banks too to ensure that they get the best deals. [The following rates have been updated in the First Week of March 2016)
Name of Bank
| Tenure of Loan/Amount of Loan | Rate of Interest |
| State Bank of India | For Women Borrowers
For Other Borrowers
70 bps above the Base Rate i.e. 9.30 % p.a.
|
9.50 % to 9.95 %
9.55% to 10 %
|
| ICICI Bank |
Women
Others
| 9.50 %
9.55 %
|
| Canara Bank | Upto Rs.100 Lacs
> Rs 100 Lacs
| 9.65 %
9.75 %
|
| Indian Bank | Upto Rs. 75 Lakhs
Above Rs. 75 Lakhs
| 9.65%
9.90%
|
| Dena Bank | up to 75 lakh | 9.70% |
| Bank of Baroda | Upto Rs. 30 Lakhs
Above Rs. 30 Lakhs and below Rs. 75 Lakhs
75 Lakhs & Above
| 9.65%
9.65%
9.65%
|
| Axis Bank | For salaries:
Loan amount upto Rs. 28 lacs
Loan amount upto Rs. 28 lacs
All Loans;
For Self Employed
Loan amount upto Rs 28 lacs
Loan amount above Rs 28 lacs
All Top up Loans
|
9.60 %
9.65 %
9.70 %
9.75 %
11.75 %
|
| HDFC Bank | 9.50 (For Women)
9.55 % (For Others)
| |
| Corporation Bank | upto Rs. 2 crore
Above Rs. 2 crore
|
9.65 %
9.90%
|
| IDBI Bank | 9.75% to 9.90 % | |
| United Bank of India | All amounts and All Tenures |
9.75%
|
Note:- The above rates are floating rates, and are linked to base rate. Thus, these rates are liable to be changed by bank even during the tenor of the loan.
DIRECT LINKS FOR Home Loans / Housing Loans FOR DIFFERENT BANKS
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