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Home loans starting at ₹5L — lowest EMIs from 25+ HFCs & banks • Rates from 8.25% - 11.5%

Step 1: Employment Details

What is a Home Loan?

A home loan is a secured loan where the property itself serves as collateral. Banks and Housing Finance Companies (HFCs) fund up to 80-90% of the property value, and you repay through EMIs over 15-30 years. Home loans have the lowest interest rates among all retail loans due to the security of property.

A home loan helps you purchase, construct, or renovate a residential property. In India, home loans are available from ₹5 lakh to ₹10 crore with interest rates starting at 8.25% p.a. Home loans offer tax benefits under Section 80C (principal repayment up to ₹1.5 lakh) and Section 24 (interest up to ₹2 lakh).

Home Loan Interest Rates 2026 — Bank-wise Comparison

Compare the latest home loan interest rates across India's top banks and NBFCs. Rates updated March 2026.

Bank / NBFCInterest Rate (p.a.)Max AmountProcessing FeeTenure
SBI8.25% - 9.85%₹10 Cr0.35% + GSTUp to 30 years
LIC HFL8.35% - 10.75%₹5 Cr0.50% + GSTUp to 30 years
HDFC Ltd8.50% - 9.65%₹10 Cr0.50%Up to 30 years
ICICI Bank8.50% - 10.05%₹10 Cr0.50% + GSTUp to 30 years
Bank of Baroda8.30% - 10.60%₹5 Cr₹8,500Up to 30 years
Kotak Mahindra8.70% - 9.40%₹5 Cr0.50%Up to 20 years
Axis Bank8.75% - 13.30%₹5 Cr1% + GSTUp to 30 years
PNB8.30% - 10.25%₹5 Cr0.35%Up to 30 years

* Rates are indicative and subject to change. Actual rate depends on CIBIL score, income, and bank policies.

Home Loan Eligibility Criteria

💼 For Salaried Individuals

  • ✓Age: 21-65 years (loan tenure must end before 65-70)
  • ✓Minimum monthly income: ₹25,000-₹30,000
  • ✓CIBIL score: 700+ (750+ for best rates)
  • ✓Work experience: 2-3 years total (1 year with current employer)
  • ✓Co-applicant/guarantor may be required

🏢 For Self-Employed

  • ✓Age: 25-65 years
  • ✓Business vintage: Minimum 3 years
  • ✓Minimum annual income: ₹3-5 lakh
  • ✓IT returns: Last 3 years
  • ✓Profit continuity required
Check Your Eligibility Now →

Documents Required for Home Loan

  • 📄PAN Card & Aadhaar Card
  • 📄Last 6 months salary slips & bank statements
  • 📄Property documents (sale agreement, title deed, NOC)
  • 📄Form 16 / IT Returns (last 3 years)
  • 📄Property valuation report
  • 📄Builder/seller KYC documents
  • 📄Approved building plan with sanctioned plan copy

Tips to Get the Best Home Loan Deal

  1. Apply jointly with your spouse for higher eligibility and lower rates (women get 0.05% discount)
  2. Pay a higher down payment (20%+) to reduce your EMI and total interest
  3. Choose a 15-20 year tenure instead of 30 years to save significantly on interest
  4. Get your property legally verified before applying for the loan
  5. Compare processing fees — they can vary from 0% to 1% of the loan amount

Frequently Asked Questions — Home Loan

What is the lowest home loan interest rate in India 2026?+
SBI offers the lowest home loan rate at 8.25% p.a. for salaried women applicants. For general applicants, rates start at 8.30% from Bank of Baroda and PNB. Private banks start from 8.50% (HDFC, ICICI).
How much home loan am I eligible for?+
Your home loan eligibility is typically 60x your net monthly salary. For example, if you earn ₹50,000/month, you may be eligible for approximately ₹30 lakh. Banks consider your age, existing EMIs, credit score, and property value.
What are the tax benefits on home loan?+
Home loans offer dual tax benefits: (1) Under Section 80C — up to ₹1.5 lakh deduction on principal repayment, (2) Under Section 24 — up to ₹2 lakh deduction on interest paid (self-occupied), (3) Under Section 80EEA — additional ₹1.5 lakh for first-time buyers (stamp value under ₹45 lakh).
Should I choose fixed or floating interest rate?+
Floating rate home loans are generally recommended as they are 1-2% lower than fixed rates and benefit from RBI rate cuts. Fixed rates provide EMI certainty but are higher. Most banks in India primarily offer floating-rate home loans.
What is the down payment required for a home loan?+
Banks typically fund 75-90% of the property value, so you need a down payment of 10-25%. For properties up to ₹30 lakh, banks may fund up to 90%. For properties above ₹75 lakh, the maximum funding is 75% as per RBI guidelines.
Can I get a home loan with CIBIL score below 700?+
While difficult, some banks and NBFCs offer home loans with CIBIL scores of 650-700, albeit at higher interest rates (1-2% above base rate). HFCs like PNB Housing and LIC HFL may be more flexible. Improving your score to 750+ before applying can save you lakhs in interest.
What is PMAY subsidy for home loans?+
Under Pradhan Mantri Awas Yojana (PMAY), eligible first-time homebuyers in EWS/LIG/MIG categories can get interest subsidy of 3-6.5% on home loans up to ₹12 lakh (EWS/LIG) or ₹9 lakh (MIG I/II). This can save ₹2.3-2.67 lakh over the loan tenure.
How long does home loan approval take?+
Home loan approval typically takes 7-15 working days from application submission. SBI offers in-principle approval in 10 minutes through its YONO app. The process includes document verification, property legal check, technical valuation, and final credit approval.

Home Loan by Bank

Compare home loan offers from specific banks with detailed features, pros & cons.

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SBI

8.25% onwards

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HDFC Bank

8.50% onwards

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ICICI Bank

8.50% onwards

Related Tools & Resources

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EMI Calculator

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Eligibility Check

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CIBIL Score