Home Loan Interest Rate

When you apply for a loan from a public sector bank like SBI or PNB, or a private bank like HDFC or ICICI, they will charge you different rates based on your profile and the state of the market. You can choose a loan that stays affordable for the whole time by learning how rates work and comparing the home loan interest rates of all the banks.

What Is a Home Loan Interest Rate?

A home loan interest rate is the percentage a bank or housing finance company charges for lending you money to buy a property. Simply put, it decides how much extra you pay over and above the principal amount. The interest rate directly impacts the amount of your EMI and the total amount of interest payable.

• Borrowing Cost: It is the cost of borrowing the money from the lender.

• EMI Impact: Higher interest rates result in higher monthly instalments and overall repayment.

• Tenure Effect: The longer the loan period, the greater the effect of interest on total cost.

• Risk Pricing: Banks charge interest rates based on your credit rating and market conditions.

• Benchmark Linkage: Most floating-rate loans are linked to external benchmarks such as the RBI’s repo rate.

Because of this, checking home loan percentage rates before applying helps you plan a loan that stays affordable over time.

Home Loan Interest Rate of all Banks 2026

The home loan interest rates of various Indian banks in 2026 are listed in the table below:

The mortgage rates today might be different than the mortgage rates for other days. Therefore, it is suggested that you always check the mortgage rates today for each insurer before making any financial decisions.

What are the Types of Home Loan Interest Rates?

Home loans do not all follow the same pricing style. Understanding the type of interest rate you choose makes it easier to plan your EMIs and long-term costs.

• Floating Rate: Moves up or down with market conditions and RBI policy changes, which means your EMI can increase or reduce over time.

• Fixed Rate: Stays the same for the selected period, giving stability in your monthly payments.

• Hybrid Rate: Begins with a fixed rate for a few years and then shifts to a floating structure.

• Repo-Linked Rate: This rate is directly linked to the RBI's repo rate, so changes are passed on to borrowers more quickly.

• Reset-Based Rate: It is subject to review and revision by the bank at periodic intervals.

Most borrowers choose floating house loan interest rates because they benefit when interest rates move downward in the long run.

How to Calculate Home Loan Interest Rate?

Understanding your home loan interest rate will enable you to calculate your EMIs and total repayment before applying. Although banks provide home loan percentage rates, your actual rate will depend on the loan amount, tenure, and terms. Here’s how you can calculate and assess it correctly.

• Check the Offered Rate: Start by reviewing the bank’s published house loan interest rates and the rate offered based on your profile.

• Apply the EMI Formula: Use the standard formula:

• EMI = P × R × (1+R)^N / [(1+R)^N – 1], where P is loan amount, R is monthly interest rate, and N is number of months.

• Convert Annual to Monthly: Divide the annual home loan interest rate by 12 and then by 100 to get the monthly rate.

• Include the Tenure: Multiply years by 12 to calculate the total number of instalments.

• Review Total Interest Payable: Calculate the EMI by multiplying the total months and then subtracting the principal.

Most borrowers also use online calculators to compare home loan interest rate all bank offers quickly and see which lender gives the most affordable structure for their budget.

What Affects Your Home Loan Interest Rate?

Banks do not set home loan interest rates uniformly for all their clients. Your mortgage rates today are influenced by a combination of your personal financial profile and market factors.

• Credit Score: A good credit record will help you secure better deals.

• Income Stability: A stable income and employment situation will allow the lenders to assess the risk factors involved in providing the loan.

• Loan Amount: Slightly different pricing may be applicable if the loan amounts are higher.

• Property Profile: Properties that have an identified legal status and location can enjoy favorable terms.

• Market Conditions: The changes in RBI norms directly impact the overall interest rate and the mortgage rates today as well.

These factors decide whether you qualify for the lowest housing loan interest rate available at the time.

How to Apply for a Home Loan?

Applying for a home loan is easier when you prepare your profile before approaching a bank. Since your home loan interest rate and eligibility depend on your financial details, following a clear process helps you avoid delays and unfavourable terms.

• Check Eligibility: Start by reviewing income, age, employment type, and credit score to see how much you can borrow comfortably.

• Compare Bank Offers: Look at house loan interest rates and other home loan percentage rates across lenders before shortlisting one.

• Select the Right Lender: Choose a bank based on pricing, repayment term options, processing fees, and service quality, not just the advertised mortgage rates today.

• Submit Documents: Provide identity proof, income records, bank statements, property papers, and employment details as required.

• Property Verification: The bank evaluates the legal and technical status of the property before approval.

• Loan Sanction and Disbursal: After the loan is sanctioned, you get a sanction letter, sign an agreement, and the money is disbursed based on the stage of construction or purchase.

By preparing in advance and comparing the home loan interest rate offered by all bank options, you can easily get a home loan that suits your budget and repayment capacity.

Why Comparing All Bank Home Loan Interest Matters?

Most people apply for a home loan to the first bank they are aware of, but this can prove to be costly in the long run.

• EMI Difference: Small rate gaps change monthly burden.

• Total Interest Saving: Even 0.25% saves lakhs on long tenures.

• Negotiation Power: Offers from other banks help you bargain.

• Feature Comparison: Processing fees and prepayment rules vary.

• Risk Control: Diversified evaluation avoids poor loan structuring.

This is why checking all bank home loan interest options before signing is practical, not optional. You can secure your family against the burden of paying off the remaining loan in your absence with a home loan insurance plan.

Home Loan Interest Rate Comparison

This structure helps evaluate the home loan interest rate of all banks without focusing only on brand names. You can use the EMI calculator to see how much your monthly premiums would cost for a home loan insurance.

Bank-Specific Home Loan Interest Rate Overview

Different banks price their loans based on internal risk models and RBI benchmarks. Below is how major lenders position their rates in practice.

SBI Home Loan Interest Rate

The SBI home loan interest rate is among the most searched in India because of SBI’s wide reach and trust. The State Bank of India home loan interest rate and the SBI housing loan interest rate are usually linked to the repo rate, which means they change when the RBI makes changes to its policies. People often prefer SBI for stable jobs with longer terms due to its competitive pricing and well-defined reset mechanisms. You can use the SBI home loan insurance premium calculator to check the monthly amount you need to pay for your home loan insurance

HDFC Home Loan Interest Rate

With hdfchome loan products, borrowers look for service quality and flexible structures. The HDFC home loan interest rate is benchmark-linked and varies by borrower risk profile and loan size. HDFC is popular among customers who buy premium properties and among salaried professionals who aim for the structured options of repayment with smoother processing. The HDFC home loan EMI calculator can help you check the monthly payments you need to make towards your home loan insurance.

ICICI Housing Loan Interest Rate

The ICICI housing loan interest rate follows a repo-linked system for most floating loans. ICICI focuses heavily on credit score-based pricing, which means strong profiles can secure favourable terms. It is often chosen by urban buyers who value faster turnaround and digital servicing.

Axis Bank Home Loan Interest Rate

The Axis Bank home loan interest rate is risk-based and depends on income type, credit score, and property classification. Axis is suitable for applicants with strong financial discipline who want modern servicing with competitive pricing in metro markets.

Bank of Baroda Home Loan Interest Rate

The Bank of Baroda home loan interest rate is usually competitive within the public sector space. It is repo-linked and works well for salaried buyers seeking predictable structures and reasonable processing costs, especially in affordable and mid-segment housing.

PNB Home Loan Interest Rate

The PNB home loan interest rate is very attractive to those borrowers who seek reliability in the public sector. PNB links most loans to external benchmarks and offers simple pricing models, hence useful for government employees and conservative buyers.

Canara Bank Home Loan Interest Rate

The Canara Bank home loan interest rate is positioned for value-conscious borrowers. With repo-linked floating rates and wide branch support, it appeals to first-time buyers and customers in semi-urban and urban markets.

How to Get the Lowest Housing Loan Interest Rate?

Securing the best rate is not only about choosing the right bank, but also preparing your profile.

• Improve Credit Score: Maintain repayments and low utilisation.

• Show Stable Income: Continuous employment improves pricing.

• Compare Offers: Check home loan interest rate all bank options.

• Negotiate Actively: Banks revise pricing for strong borrowers.

• Choose Repayment Term Wisely: Balance EMI comfort with total interest.

Fixed vs Floating: Which Is Better?

This is how the right interest rate option can impact your home loan repayment schedule:

• Fixed Stability: EMI stays the same for a fixed term.

• Floating Flexibility: EMI reduces when market rates fall.

• Risk Exposure: Floating exposes you to rate movement.

• Budget Planning: Fixed helps short-term certainty.

• Long-Term Cost: Floating often works more affordable over long tenures.

Most borrowers prefer floating house loan interest rates for long-term affordability.

Final Thoughts!

Your home loan interest rate decides not just your EMI, but your financial comfort for decades. Comparing house loan interest rates, checking bank-specific offers, and understanding how pricing works helps you borrow smarter, not harder. Rather than pursuing only the brand, think about structure, flexibility, and long-term cost so that your home loan remains stress-free, not stressful, throughout its life cycle.

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