Posted by New Delhi: Prior to taking a home loan, borrowers should compare interest rates offered by different banks. The interest rates applied by banks is around 9-11 per cent. The rate is also decided on the basis of credit score of the applicant and the amount of loan borrowed.
HDFC Bank Home Loan interest rates
HDFC Bank charges an interest rate of 8.55 per cent to 9.10 per cent for salaried and self-employed borrowers. The bank’s website mentions that the standard home loan rates for salaried and self-employed ranges between 8.9 to 9.60 per cent.
Special Home Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
Loan Slab
Interest Rates (% p.a.)
For All Loans*
Policy Repo Rate + 2.05% to 2.60% = 8.55% to 9.10%
Standard Home Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
Loan Slab
Interest Rates (% p.a.)
For All Loans*
Policy Repo Rate + 2.40% to 3.10% = 8.90% to 9.60%
State Bank of India Home Loan rates
State Bank of India (SBI) charges 9.15 per cent to 10.05 per cent for Regular Home Loans depending upon the tenure, CIBIL score and loan amount.
ICICI bank Home Loan interest rate
Salaried and self-employed class borrowers with CIBIL score of >800 are entitled to be charged 9 per cent interest on home loans. ICICI Bank charges 9.10 per cent from the self-employed persons with a credit score of 750-800.
Special Home Loan Interest Rates
CIBIL
Salaried
Self-Employed
>800
9.00%
9.00%
750-800
9.00%
9.10%
Standard Home Loan Interest Rates
Loan Slab
Salaried
Self-Employed
Up to ₹ 35 lakhs
9.25% – 9.65%
9.40% – 9.80%
₹ 35 lakhs to ₹ 75 lakhs
9.50% – 9.80%
9.65% – 9.95%
Above ₹ 75 lakhs
9.60% – 9.90%
9.75% -10.05%
Kotak Mahindra Bank Home Loan interest rate
Kotak Mahindra Bank offers attractive home loan interest rates in India starting at 8.70 per cent per annum.
Floating Category (Repo Rate: 6.50%)
For Salaried class the bank charges 8.70 per cent onwards
For Self-employed, Kotak Mahindra Bank charges interest rate of 8.75 per cent onwards