House-based Loan Interest Rates for All Banks in August 2023

In 2023, gaining a housing loan has become an increasingly popular option for persons looking to purchase or invest in real estate. With the increasing cost of properties and the wish for homeownership, many people turn to banks and financial institutions to secure essential funds. Housing loans, also recognized as mortgages, are long-term loans exactly designed to support individuals in acquiring or constructing a residential property.

HDFC Bank offers the best home loan interest charges, supple repayment options, and loan expanses personalized to your needs, making it calmer for you to fulfil your dream of possessing a home. Enjoy hassle-free dispensation and dedicated customer support throughout your home loan journey with HDFC Bank.

Interest Charges: HDFC Bank gives the best home loan interest charges, tailored for both Waged and self-starting individuals.

For Waged: Interest charges start at 8.45% p.a.

For Self-starting: Starts at 8.50% p.a.

Loan Expanse: Ranges from Rs. 1 lakh to Rs. 10 crores

Loan Occupancy: Up to 30 years

Processing Charges: The processing charges are either ₹3000 or up to 0.50% of the loan expanse.

Eligibility Standards: The eligibility standards for acquiring the loan are age, income, credit score, and employment stability, ensuring a complete evaluation process.

With modest interest charges and a flexible Occupancy of up to 30 years, ICICI Bank confirms that your loan fits your financial goals. The minimal certification requirement makes the application process hassle-free, while the digital sanction allows the swift transfer of the loan. Moreover, you can enhance your loan with a Top Up Loan of up to 100%, maximising your copying potential. Trust ICICI Bank to make your home possession journey seamless and rewarding.

Interest Charges: The new home loan interest charges provided by ICICI Bank are designed to fulfil your dreams of owning a home with its attractive features and benefits. 

For Waged: The new home loan interest charges provided by ICICI Bank start at 9.25% p.a. for Waged individuals

For self-starting: for self-starting home loan interest charges start at 9.40% p.a.

Loan Expanse: Range from Rs. 5 lacs to Rs. 1 crore

Loan Occupancy: Can extend up to 30 years

Processing Charges: Processing charges charged by the bank are ₹3000  or 0.50-2.00% of the loan expanse.

Eligibility Standards: The eligibility standards include age, income, credit score, and employment stability.

Through their extensive Home Loan products, Axis Bank offers the perfect answer to help you realize your dream of owning a home. Borrowers can benefit from reduced Equated Monthly Instalments (EMIs) with a minimum loan expanse of Rs. 3 lacs, which enables a convenient repayment arrangement over a prolonged Occupancy. Additionally, Axis Bank offers reasonable interest rates, an easy application process, doorstep service, and the option to choose between fluctuating and fixed interest rates. Notably, the lack of any prepayment penalties gives borrowers the opportunity to pay off their loan early if they so want.

Interest Charges: Axis Bank gives highly competitive interest charges for housing loans that cater to the needs of both Waged and self-starting individuals.

For Waged: starting at 8.75% p.a.

For self-starting: 8.85% – 9.15% p.a.

Loan Expanse: Up to Rs. 5 crores.

Loan Occupancy: The bank offers flexible Occupancy options, permitting borrowers to choose between a floating interest rate with a maximum Occupancy of 30 years or a fixed interest rate with a Occupancy of 20 years.

Processing Charges: 1% of the loan expanse.

Eligibility Standards: To confirm eligibility, the bank evaluates various factors including age, income, credit score, and employment constancy. This complete estimation process ensures that qualified applicants can benefit themselves of the bank’s housing loan facilities without any irritation.

Bank of Baroda’s home loan, known as Baroda Home Loan, offers a range of assistance to make your home ownership journey smooth and reasonable. With low-interest charges and minimal dispensation charges, you can enjoy profitable financing. Bank of Baroda also stretches higher loan expenses, confirming you have the necessary funds to purchase your dream home. As an additional perk, you’ll receive a free credit card, which presents extra financial flexibility. Longer Occupancy permit for contented repayment choices and the option for easy top-up loans give flexibility for future financial requirements.

Interest Charges: Bank of Baroda is one of the leading players in the market giving the best home loan interest responsibilities.

For Waged: Starts at 8.60% p.a.

For self-starting: Starts at 8.60% p.a.

Loan Expanse: Up to Rs. 20 crores

Loan Occupancy: Up to 30 years

Processing Charges: Up to 0.25% of the loan expanse

Eligibility Standards: Eligibility standards include age, income, credit score, and employment stability.

Punjab National Bank’s home loan modification gives borrowers the advantage of substantial interest savings by permitting them to deposit their extra funds in the overdraft account and withdraw the same as per their requirements. Qualified customers, including present housing loan borrowers, can avail of this ability for numerous determinations except for the acquisition of land/plots.

Interest Charges: Punjab National Bank offers competitive home loan interest charges to their customers.

For Waged: Starts at 8.75% p.a.

For self-starting: Starts at 8.80% p.a.

Loan Expanse: Ranges from Rs. 8 lacs to Rs. 35 lacs

Loan Occupancy: Up to 30 years

Processing Charges: The processing charges charged by the bank are 0.50% of the loan expanse and can go up to ₹50,000. 

Eligibility Standards: The eligibility standards include age, income, credit score, and employment stability.

Citibank knows that individuals have varying loan needs throughout their lives. It gives a diverse range of mortgage products that cater to your detailed aspirations. Whether you’re buying a new home, repairing your current residence, investing in property, or refinancing an existing loan, Citibank gives a wide selection of mortgage loan answers with competitive charges. Its mortgage crops are designed to bring you into line with your lifestyle and financial objectives, helping you turn your dream home into a reality.

Interest Charges: Citibank is among the few banks providing the cheapest home loan interest rate.

For Waged: Start at 7.45% p.a.

For self-starting: Start at 7.45% p.a.

Loan Expanse: Range from Rs. 10 lacs to Rs. 10 crores

Loan Occupancy: Up to 25 years

Processing Charges: Citibank charges up to 0.50% of the loan expanse for its processing charges.

Eligibility Standards: The eligibility standards for availing the home loans are factors such as minimum age of 21, income, credit score, and employment stability.

Canara Bank’s home loan gives a range of features and benefits to make your home-buying journey simpler. With no obligation for a guarantor, flexible repayment choices spanning up to 30 years, and a suitable prepayment facility, you have the freedom to modify your loan as per your financial plan. Moreover, Canara Bank confirms quick loan approval, allowing you to fulfil your dream of possessing a home without unnecessary delays.

Interest Charges: One of the best home loan interest charges of 2023 is offered by the Canara Bank.

For Waged: 9.8% – 10.30% p.a

For self-starting: 9.8% – 10.30% p.a

Loan Expanse: Maximum loan expanse is ₹50 lakhs

Loan Occupancy: Up to 30 years

Processing Charges: The processing charges are up to 0.50% of the loan expanse, with a maximum of ₹10,000 and a minimum of ₹1,500.

Eligibility Standards: To be appropriate for a home loan from Canara Bank, Aged individuals need a minimum of 2 years of aggregated regular and continuous service, with at least 6 months completed in the current organisation.

SBI offers house loans to consumers that come with a number of benefits. You can take advantage of SBI Home Loans' alluring interest rates, which provide affordability and ease on your wallet. The numerous repayment options allow you to manage your finances because they may be tailored to your individual needs. By removing hidden fees, SBI promotes openness, enabling you to better plan your budget. Additionally, SBI offers professional legal and technical counselling services to help you along the home-buying process so that you may make well-informed decisions. This guarantees a simple and well-informed home loan experience.

Interest Charges: SBI’s home loan interest charges for 2023 are provided at attractive interest charges.

For Waged: start at 8.50% p.a

For self-starting: 9.25% – 10.45%

Loan Expanse: The loan expanse is provided to the borrower according to their eligibility.

Loan Occupancy: 30 years maximum

Processing Charges: The processing charges charged by the bank range from 0.35 – 0.50% of the loan expanse.

Eligibility Standards: Eligibility standards consider issues such as age, salary, the value of the property, recognition score, and employment stability. The borrower should be an Indian citizen. The suitability standards for women borrowers are matching to those for other applicants. However, women borrowers are decided on a 0.05% interest rate concession.

With the Bank of Maharashtra’s low EMIs and higher loan expenditures, you can comfortably finance your dream home. The “Track My Loan” feature allows you to stay updated on the status of your loan request. The bank has a list of accepted projects, ensuring a seamless process. With basic payments, no hidden tasks, and no prepayment penalty, the Bank of Maharashtra gives photograph and flexibility, creation your home loan knowledge hassle-free.

Interest Charges: Bank of Maharashtra’s home loan offers a range of benefits to make your home ownership journey smoother.

For Waged: Starts at 8.60% p.a

For self-starting: Starts at 8.80%.

Loan Expanse: Upto ₹15 lacs of the home loan expanse is provided to borrowers from rural areas and around ₹25 lacs to semi-urban borrowers.

Loan Occupancy: Up to 30 years/up to the borrower is 75 years old

Processing Charges: Up to 0.15% of the loan expanse is charged by the bank as processing charges, however, the maximum expanse is ₹25,000.

Eligibility Standards: The eligibility standards for gaining a home loan from the Bank of Maharashtra include the maximum loan expanse being strongminded as the lowest value among the loan expanse measured based on Permissible Deduction norms, the maximum allowable LTV ratio, and the loan area requested.