Home Loan Lowest Interest Rate Banks in India

A home is a dwelling place used as a permanent residence for an individual, household or family. Building your home can be one of the most exciting and important dreams one has and a home construction or purchase is probably the biggest financial decision in one's life. This decision has an impact on one's financial life for many years to come.

Now due to home loans offered by many finance companies and bank, it has become comparatively easier to build our own home. Such banks/ home finance companies provide you full assistance in getting loan by their simple procedures.

A Home loan in India is offered by several banks at a lower interest rate starting at 9%. These loans allow you to repay them in maximum of 30 Years. Banks offer the best Home loan schemes and you can repay the loan through easy EMIs.

Further, there is also tax benefits in availing home loans. Find below Banks List Providing Home Loan.

Home Loan at lower Interest Rate 27 Jun 2022

BankInterest RateTenure
City Union Bank Limited10.25% - 12.75%15 Years
Andhra Bank6.40% to 7.30%30 Years
Corporation Bank6.40% to 7.30%30 Years
Union Bank Of India6.40% to 7.30%30 Years
Kotak Mahindra Bank Limited6.5% - 7.25%20 Years
Uco Bank6.50% to 6.70%30 Years
Bank Of India6.50% to 8.35%30 Years
Punjab And Sind Bank6.60% to7.35%15 Years
Yes Bank6.65% to 6.70%25 Years
Icici Bank Limited6.70% - 7.55%30 Years
Indusind Bank6.70% - 8.80%30 Years
Idbi Bank6.75% - 9.30%25 Years
State Bank Of India6.75% to 7.50%30 Years
Bharatiya Mahila Bank Limited6.75% to 7.50%30 Years
State Bank Of Mysore6.75% to 7.50%30 Years
State Bank Of Hyderabad6.75% to 7.50%30 Years
State Bank Of Patiala6.75% to 7.50%30 Years
State Bank Of Travancore6.75% to 7.50%30 Years
State Bank Of Bikaner And Jaipur6.75% to 7.50%30 Years
Oriental Bank Of Commerce6.75% to 7.55%480 Months, , including the moratorium period of 18 months
Punjab National Bank6.75% to 7.55%30 Years
United Bank Of India6.75% to 7.55%30 Years
Hdfc Bank6.75% to 7.65%30 Years
Bank Of Baroda6.75% to 7.75%30 Years
Dena Bank6.75% to 7.75%30 Years

Purpose of Home Loan

  • Home Purchase Loan - For the purpose of purchase of a house.
  • Home Construction Loan - For the purpose of self-construction of a residential home.
  • Land Purchase Loans/Plot Loans - For the purpose of purchase of a plot of land for construction or as an investment.
  • Home Extension Loan - For the purpose of add more space to your existing home.
  • Home Improvement Loan - For the purpose of internal or external repairs, waterproofing, electrical works, painting, roofing, plumbing, etc.
  • Residential Plot Loan - For the purchase of a residential plot of land in an urban area, and build your house subsequently.

Types of Home Loan

Sr NoSchemeBrief Description
1Regular Home LoanRegular and most demanding Loan Scheme
2Home Loan as OverdraftHome Loan is taken as Overdraft
3Home Top-Up LoanBorrow amount over and above home loan amount
4Balance Transfer of Home LoanTransfer home loan from other institution
5NRI Home LoanNRIs and PIOs can get home loan
6Flexipay Home LoanExclusively designed for salaried to get higher loan
7Privilege Home LoanExclusively designed for government employees
8Home Improvement LoanFor furnishing houses or flats at very low interest rate
9Pre-Approved Home Loan (PAL)Sanction of loan limit before finalizing property
10Realty Home LoanExclusively to purchase a plot for construction
11Bridge Home LoanUpgrade home
12Reverse Mortgage LoanLoan against mortgage of residential property
13CRE (Commercial Real Estate) Home LoanLoan to customers who own at least 2 houses
14Pradhan Mantri Awas Yojana (PMAY)Subsidised home loan for eligible urban beneficiaries
15Step Up Home LoanOffers higher loan amount as compared to your actual loan eligibility
16Fixed Home Loan 24/36 monthsFixed interest rate for first 2/3 years