This list is comprehensive and updated for home loan interest rates you can expect in the year 2022.
Table of Contents
Home Loan Interest Rates All Banks 2022 in India
| Bank Name | Rate of Interest | Monthly EMI for 30 Lakh Loan for 10 years |
|---|---|---|
| HDFC Bank | 7.55% PA | 27,900 |
| SBI Bank | 7.05-7.65% PA | 27,471 |
| ICICI Bank | 7.6% PA | 27,980 |
| Axis Bank | 7.05% -7.35% PA | 27,386 |
| Kotak Bank | 7.50% PA | 27,810 |
| City Bank | 6.65% PA | 26,464 |
| Union Bank of India | 6.95% PA | 26,881 |
| Canara Bank | 7.05% PA | 27,049 |
| Punjab National Bank (PNB) | 6.75% PA | 26,547 |
| Standard Chartered Bank | 6.99% PA | 26,948 |
| LIC Housing Finance Bank | 6.90% PA | 26,797 |
| Bajaj Finance | 6.75% PA | 26,547 |
You will come across many questions while availing of a home loan like what exactly is a home loan, which bank has the lowest home loan interest, and so on. These answers will help you while availing of a home loan.
What is home loan interest rate?
Home loan interest rate is an important figure if you are planning to avail it for purchasing a home. Interest rate is the percentage of the principal amount charged by the lender to the borrower for using the principal amount. Your monthly EMI is calculated based on the interest rate levied on the principal amount you borrowed to purchase a home. Home loan interest rates vary according to the bank from where you are applying. Currently, the lowest interest rate you can expect is 6.69%.
Which Bank has the lowest home loan interest rate?
Currently, City bank is offering the lowest interest rate.
Which bank is best for home loans?
One of the highly regarded banks for availing of home loans is the State Bank of India. You can even apply for loans to other reputed banks like HDFC,
How much loan can I get on Rs 60,000 per month salary ?
You can expect a total home loan amount of somewhere at Rs 40 Lakh. This amount you can confirm once from the Bank.
What is the EMI for a Rs 20 lakh home loan?
All EMIs are calculated at the interest rate of 6.8%. You can expect an EMI of Rs. 39, 414 for 5 Years tenure. An EMI of Rs. 23,016 for 10 years tenure. An EMI of Rs. 17,754 for 15 years tenure. An EMI of Rs. 15,267 for 20 years tenure. An EMI of Rs. 13,881 for 25 years tenure. An EMI of Rs. 13,039 for 30 years tenure.