Top 5 banks with lowest interest rates for home loans in India

Millions and millions of home buyers in India often look for the lowest and best rate of interest for home loans. We have collated a list of top 5 banks in India offering the lowest interest rates for home loans.

As the Indian real estate market continues to grow, home loans have become an integral part of the home buying process. With the Reserve Bank of India maintaining a stable interest rate environment, several banks are now offering highly competitive home loan interest rates to attract customers.

Top 5 Banks Offering Lowest Home Loan Interest Rates in India

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1. Bank of Baroda
Home Loan Interest Rate: 8.40% p.a. onwards
Bank of Baroda, one of the leading public sector banks in India, is offering home loans at interest rates starting from 8.40% per annum. The bank’s competitive rates, coupled with its extensive branch network and customer-friendly policies, make it an attractive option for home buyers.

2. Punjab National Bank
Home Loan Interest Rate: 8.40% p.a. onwards
Punjab National Bank, another prominent public sector lender, is providing home loans at interest rates beginning from 8.40% per annum. The bank’s home loan offerings cater to a wide range of customer segments, making it a popular choice among first-time home buyers and those looking to upgrade their living spaces.

3. HDFC Bank
Home Loan Interest Rate: 9.40% p.a. onwards
HDFC Bank, a leading private sector bank, is offering home loans with interest rates starting from 9.40% per annum. Despite being slightly higher than the public sector banks, HDFC Bank’s home loan products are still among the most competitive in the market, thanks to its strong brand reputation and customer-centric approach.

4. State Bank of India (SBI)
Home Loan Interest Rate: 8.40% p.a. onwards
State Bank of India, the largest public sector bank in the country, is providing home loans with interest rates beginning from 8.40% per annum. SBI’s extensive branch network and its position as a trusted financial institution make it a preferred choice for many home loan applicants.

5. Union Bank of India
Home Loan Interest Rate: 8.35% p.a. onwards
Union Bank of India, a prominent public sector bank, is offering home loans at interest rates starting from 8.35% per annum. The bank’s competitive rates, combined with its focus on customer service, have made it a popular option among home buyers seeking affordable financing solutions.

These top 5 banks are currently leading the home loan market in India, offering some of the lowest interest rates to cater to the growing demand for residential properties. Prospective home buyers should carefully evaluate the interest rates, loan terms, and other features offered by these banks to find the most suitable home loan option for their needs.