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Home Loan at Lowest Interest Rates

Buying a home is one of the biggest financial decisions most people make. Instead of paying the entire price upfront, a home loan helps you finance that purchase over a period of years with structured monthly EMIs. Compare lowest interest rates for home loan from banks and housing finance companies, check your eligibility, calculate your monthly EMI and apply for home loan online at NoBroker. The offered rate and amount will depend on the lender, your income, credit profile, loan amount and tenure.

Home Loan Interest Rates

Home loan interest rates today in India start from 7.10% p.a. as of September 2026, following the RBI's 125 basis points repo rate cut to 5.25%. Rates vary by lender, credit score, loan amount, tenure, and borrower profile. Figures below are indicative starting rates.

Lender	Interest Rate	Maximum Loan Amount	Maximum Tenure	Processing Fee
State Bank of India	7.25% p.a. onwards	No upper limit	30 years	0.35% (min ₹3,000, max ₹12,000) + GST
HDFC Bank	7.75% p.a. onwards	Based on eligibility	30 years	Up to 0.50% (min ₹4,000) + GST
ICICI Bank	7.65% p.a. onwards	Based on eligibility	30 years	Up to 1% + GST
Axis Bank	8.00% p.a. onwards	Up to ₹10 crore	30 years	Up to 1% (min ₹10,000) + taxes
Bank of Baroda	7.20% p.a. onwards	Up to ₹5 crore	30 years	Min ₹8,500, max ₹25,000
Punjab National Bank	7.20% p.a. onwards	Need-based	30 years	1% + GST (min ₹10,000)
Canara Bank	7.15% p.a. onwards	No upper limit	30 years	Contact bank
LIC Housing Finance	7.15% p.a. onwards	Based on eligibility	30 years	0.25% (max ₹15,000) + GST
Union Bank of India	7.15% p.a. onwards	Based on eligibility	30 years	0.50% (max ₹15,000) + GST
Bank of Maharashtra	7.10% p.a. onwards	Based on eligibility	30 years	Up to 0.25% (max ₹25,000)
Central Bank of India	7.10% p.a. onwards	Based on eligibility	30 years	0.50% (max ₹20,000) + taxes
Bank of India	7.10% p.a. onwards	Based on eligibility	30 years	0.25% (min ₹1,500, max ₹20,000)
Kotak Mahindra Bank	7.70% p.a. onwards	Up to ₹40 crore	25 years	Up to 2% + GST
IDFC First Bank	7.75% p.a. onwards	Based on eligibility	30 years	Up to 3%
Punjab and Sind Bank	7.30% p.a. onwards	Based on eligibility	30 years	0.25% + taxes

What Determines Your Home Loan Interest Rate?

CIBIL score: Above 750 gets the best rates; below 650 can mean rejection or a high rate.
Income and employment: Salaried applicants at established employers often get better rates than self-employed with variable income.
Loan amount and LTV: Higher LTV can mean a marginally higher rate at some lenders.
Property type: Ready-to-move properties are often assessed more favourably than under-construction.
Benchmark rate: Floating loans link to the lender's EBLR, which moves with RBI repo rate.

How to Get a Lower Home Loan Interest Rate

Maintain CIBIL above 750; compare at least 3–4 lenders (0.25% on ₹50 lakh saves several lakh over 20 years); clear existing loans to improve FOIR; use female primary borrower for 0.05% concession where offered; negotiate with a strong profile or existing banking relationship.

Home Loan EMI and Affordability

EMI covers interest and principal based on loan amount, rate, and tenure. Illustrative EMIs at 8.5% p.a.:

Loan Amount	Tenure	Interest Rate	Monthly EMI	Total Interest	Total Repayment
₹25 lakh	10 years	8.5%	₹30,996	₹12.2 lakh	₹37.2 lakh
₹50 lakh	15 years	8.5%	₹49,237	₹38.6 lakh	₹88.6 lakh
₹75 lakh	20 years	8.5%	₹65,087	₹81.2 lakh	₹1.56 crore
₹1 crore	25 years	8.5%	₹80,523	₹1.42 crore	₹2.42 crore
₹1 crore	30 years	8.5%	₹76,891	₹1.77 crore	₹2.77 crore
₹2 crore	30 years	8.5%	₹1,53,783	₹3.54 crore	₹5.54 crore

Illustrative only. Standard reducing-balance EMI formula.

Home Loan Eligibility

Key factors: net monthly income, existing EMIs, age (loan typically closes by 70), CIBIL (750+ for best rates), employment stability (2–3 years), and RBI LTV limits (90% up to ₹30 lakh, 80% for ₹30–75 lakh, 75% above ₹75 lakh). Salaried, self-employed, and co-applicant rules apply as per lender policy.

Home Loan Application Process

Check eligibility with NoBroker's calculator
Compare lenders on rate, fees, and prepayment terms
Calculate EMI for your amount and tenure
Apply online
Submit KYC, income, bank, and property documents
Complete verification (typically 7–21 working days)
Receive sanction letter and complete disbursement

Types of Home Loans

Purchase, construction, renovation, plot/land, joint, balance transfer, and top-up products are available through NoBroker partner lenders.

Home Loan Tax Benefits

Under the old tax regime only: Section 80C on principal (up to ₹1.5 lakh/year), Section 24(b) on interest (up to ₹2 lakh/year for self-occupied). Joint borrowers who are co-owners may claim independently.

Why Apply Through NoBroker?

Compare 20+ lenders in one place
Check eligibility before approaching banks
Calculate EMI instantly
Apply online with documentation support

Sources: RBI circulars, lender websites, and public rate aggregators (BankBazaar, Business Standard, etc.). Rates and eligibility change — verify with the lender before applying.