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Complete compilation of current loan interest rates


The State Bank of India, Bank of Baroda, Union Bank of India, and many other public sector banks (PSBs) are offering home loans at interest rates starting at 8.40 per cent. 


Earlier this month, the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5 per cent for the fourth time in a row. The RBI had been raising this rate since May 2022 to tackle high inflation. For borrowers, this meant higher interest rates on their loans.


Repo rate pause coupled with new RBI guidelines, which gives borrowers the ability to switch to fixed-rate home loans at their discretion makes it favourable for buyers to consider taking out a loan. 


To help you make an informed decision, here are the tables compiled by Paisabazaar.com of the home loan interest rates offered by various public sector banks, private sector banks, and housing finance companies (HFCs) as of October 25, 2023.


Public Sector Banks:


Public sector banks, known for their reliability and accessibility, offer a range of home loan interest rates tailored to different loan amounts. Here is an overview of some prominent public sector banks along with the best and worst loan rates in each category:


Name of Lender
Loan Amount (Rs)
Upto 30 Lakh
Above 30 Lakh & Upto 75 Lakh
Above 75 Lakh
PUBLIC SECTOR BANKS
State Bank of India
8.40-10.15
8.40-10.05
8.40-10.05
Bank of Baroda
8.40-10.65
8.40-10.65
8.40-10.90
Union Bank of India
8.40-10.80
8.40-10.95
8.40-10.95
Punjab National Bank
8.55-10.25
8.50-10.15
8.50-10.15
Bank of India
8.30-10.75
8.30-10.75
8.30-10.75
Canara Bank
8.50-11.25
8.45-11.25
8.40-11.15
UCO Bank
8.45-10.30
8.45-10.30
8.45-10.30
Bank of Maharashtra
8.50-11.15
8.50-11.15
8.50-11.15
Punjab and Sind Bank
8.50-10.00
8.50-10.00
8.50-10.00
Indian Overseas Bank
8.85 onwards
8.85 onwards
8.85 onwards
Central Bank of India
8.45-9.80
8.45-9.80
8.45-9.80
Soucre: Paisabazaar.com


While SBI and BoB are offering home loan interest rates ranging from 8.40 per cent to 10.15 per cent for loans up to Rs  30 lakh, PNB’s rates vary from 8.55 per cent to 10.25 per cent. 


Notably, Canara Banks is offering an additional 5 bps concession for takeover/ready-to-move home loan proposals and a 5 bps concession for salaried employees working in central/state government/PSUs/MNCs/Bluechip Companies and corporates maintaining or switching salary accounts with Canara Bank including Canara SB Premium Payroll package payroll accounts. The offer is applicable in all loan slabs up to the floor/ceiling rate.


Private Sector Banks: 


Here is an overview of some prominent private sector banks along with the best and worst loan rates in each category:


Name of Lender
Loan Amount (Rs)
Upto 30 Lakh
Above 30 Lakh & Upto 75 Lakh
Above 75 Lakh
PRIVATE SECTOR BANKS
Kotak Mahindra Bank
8.70 onwards
8.70 onwards
8.70 onwards
ICICI Bank
9.00-9.80
9.00-9.95
9.00-10.05
Axis Bank
9.00-13.30
9.00-13.30
9.00-9

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