Home Loan Interest Rate of SBI, ICICI Bank, HDFC, Axis Bank and other Top Banks

Interest Rate Loan Amount Processing Fees
Axis Bank 7.75% - 8.55% Upto Rs.20 Cr. ₹ 10000 - Upto 0.35 %
ICICI Bank 7.7% - 9.4% Upto Rs.20 Cr. ₹ 5000 - Upto 0.5 %
Kotak Mahindra Bank 8.55% - 9.65% Upto Rs.20 Cr. 0.5 % - Upto 0.5 %
PNB Housing 7.15% - 8.95% Upto Rs.5 Cr. 0.5 % - Upto 1 %
IDFC First 8% - 9.5% Upto Rs.7 Cr. ₹ 10000 - Upto 0.5 %
Bank of Baroda 6.85% - 7.35% Upto Rs.10 Cr. 0.5 % - Upto 0.5 %
LIC Housing Finance 7.5% - 8.5% Upto Rs.10 Cr. 0.5 % - Upto 0 %
SBI 7.95% - 8.95% Upto Rs.10 Cr. ₹ 5000 - Upto 0.25 %

Axis Bank Home Loan Special Interest Rate

Home Loan Category Salaried Self-Employed
Loan Amount up to Rs. 30Lakhs 8.40% 8.45%
Rs. 31 Lakhs to 75 Lakhs 8.45% 8.50%
RS. 75 Lakhs and Above 8.60% 8.65%
Processing Fees Rs. 10000/- +GST 0.35% of the loan amount + GST

Axis Bank Home Loan Balance Transfer Offers

Home Loan Scheme Loan Amount Range Interest Rates Processing Fees
Home Loan Balance Transfer For all loan amount 8.40% Rs. 10000 +GST
Home Loan Top Up Up to 30% of Home Loan 8.40% 0.50% of Top Up Amount
Home Loan Top UP Above 30% & Up To 100% 8.50% 0.50% of Top Up Amount

SBI Home Loan Scheme and Interest Rate- Effective from 1st Oct 2019New

The Largest Indian Bank State Bank of India (SBI), is coming up with new Home loan schemes for all the segment of home loan borrowers, which will be linked to its new repo-rate. The new Home Loan floating interest rates will be offered to the borrowers from 1st October 2019. This rate revision by SBI for retail loans is in line with the Reserve Bank of India’s guidelines for Indian Banks to link all the floating interest rate loan to External Benchmarks Linked Rate (EBR/Repo Rate) effective from October 2019, All the retail loans to individuals like Home Loan, Auto Loans and other retail loans will be linked to EBR.

SBI Home Loan Repo Rate Linked Interest Rates

Loan Amount Up to Rs. 30 Lakhs Above Rs. 30 and Up to 75 Lakhs Above Rs. 75 Lakhs
Salaried Borrowers 8.05% 8.15% 8.25%
Women- Salaried 8.05% 8.10% 8.20%
Self-Employed- Borrowers 8.25% 8.35% 8.45%
Self-Employed-Women 8.20% 8.30% 8.40%

SBI Home Loan MCLR Linked Interest Rates

Loan Amount Up to Rs. 30 Lakhs Above Rs. 30 and Up to 75 Lakhs Above Rs. 75 Lakhs
Salaried Borrowers 8.15% 8.25% 8.55%
Women- Salaried 8.15% 8.40% 8.50%
Self-Employed- Borrowers 8.35% 8.45% 8.75%
Self-Employed-Women 8.30% 8.55% 8.65%

SBI has fixed its retail loan lending interest rates based on EBR-linked rates (EBR) at 8.05 percent- this means a spread of 2.65 percent will be charged over Reserve Bank of India’s repo rate, which is currently 5.4 percent.

SBI will be offering a different interest rate to Salaried individuals, self-employed business owners and women borrowers based on the size/quantum of each loan amount applied for.

For a Salaried individual applying for a Home loan with SBI for an amount of Up-to Rs. 30.00Lakhs, the bank will charge a premium of 15bps (basis points) above the External Benchmarks Linked Rate (EBR/Repo Rate) - this means an effective rate (ER) of 8.20 percent on loan amount of up to Rs. 30.00Lakhs.

Home Loan above Rs. 30 Lakhs and up- to Rs. 75Lakhs will be offered at an ER of 8.45 percent, that’s EBR plus a premium of 40 bps. Salaried Home loan borrowers applying for a Home Loan of above Rs. 75Lakhs will get a loan at the interest rate of 8.55 percent, that is EBR plus 50 bps. All the non-salaried borrowers that is Self-employed individuals and business owners taking a home loan from SBI will have to pay an a premium of 15 bps to home loan card rates of salaried borrowers. All the women borrower’s will get a discount of 5bps on all the card rates.

Additionally, if any borrower want a home loan above 80 percent LTV (loan to valuation ratio) and less than 90 percent LTV will be paying 10 bps premiums on card rates. All the high risks customers will have to pay a premium of 10 bps on card rate.

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