Banks & HFCs start slashing home loan rates as repo rate dips to 6%,

Take a peek into the current home loan interest rates before making this big financial decision

The Reserve Bank of India’s (RBI’s) rate setting panel decided to cut the repo rate by another 25 basis point bringing it down to six per cent this month. This move was aimed at boosting the economy and encouraging people to spend and invest more especially in sectors like housing.

 

Following this, many banks have lowered their home loan interest rates, giving relief to borrowers and making it easier for new buyers to take loans.

 

So what is the new interest rate regime? Which banks are offering loans at attractive rates? These rates vary depending on the borrower's profile.

 

Public sector banks

 

Central Bank of India -- 7.85 per cent to 9.45 per cent.

 

Union Bank of India -- 7.85 per cent to 10.40 per cent.

 

State Bank of India --- 8 per cent and 9.15 per cent.

 

Punjab National Bank -- 8.05 per cent to 9.85 per cent.

 

Indian Overseas Bank -- 7.90 per cent onwards.

 

Below is the curated list of interest rates offered by various public sector banks:

 

Name of Lender	Loan Amount (Rs)
	Upto 30 Lakh	Above 30 & Upto 75 Lakh	Above 75 Lakh
PUBLIC SECTOR BANKS
State Bank of India	8.00-9.15	8.00-9.15	8.00-9.15
Bank of Baroda	8.40-10.40	8.40-10.40	8.40-10.65
Union Bank of India*	7.85-10.25	7.85-10.40	7.85-10.40
Punjab National Bank	8.05-9.85	8.00-9.75	8.00-9.75
Bank of India	8.00-10.35	8.00-10.35	8.00-10.60
Canara Bank**	8.00-10.75	7.95-10.65	7.90-10.65
UCO Bank***	8.30 onwards	8.30 onwards	8.30 onwards
Bank of Maharashtra	7.85-10.65	7.85-10.65	7.85-10.65
Punjab and Sind Bank	8.05-11.25	8.05-11.25	8.05-11.25
Indian Overseas Bank	7.90 onwards	7.90 onwards	7.90 onwards
Indian Bank	8.25-9.65	8.25-9.65	8.25-9.65
Central Bank of India	7.85-9.45	7.85-9.45	7.85-9.45

*Extra interest rate concession of 0.05% to borrowers opting for insurance policy and extra 0.10% on green home projects.  **0.05% interest rate concession for balance transfer/ready to move proposals, Govt./PSUs/Top Corp. employees and salary account holders.  ***Additional concession of 0.10% for takeover loans.

Rates as of 16th April 2025

Source: Paisabazaar.com

  Private sector banks

 

Karur Vysya Bank -- 8.45 per cent to 11.40 per cent.

 

Federal Bank -- 8.55 per cent.

 

City Union Bank -- 9.85 per cent to 15.45 per cent.

 

CSB Bank -- 10.11 per cent onwards.

 

Below is the curated list of interest rates offered by various private sector banks: 

PRIVATE SECTOR BANKS
Kotak Mahindra Bank	8.65 onwards	8.65 onwards	8.65 onwards
ICICI Bank	8.75 onwards	8.75 onwards	8.75 onwards
Axis Bank	8.75-12.80	8.75-12.80	8.75-9.65
HSBC Bank	8.40 onwards	8.40 onwards	8.40 onwards
South Indian Bank	8.50 onwards	8.50 onwards	8.50 onwards
Karur Vysya Bank	8.45-11.40	8.45-11.40	8.45-11.40
Karnataka Bank	8.94-11.06	8.94-11.06	8.94-9.59
Federal Bank	8.55 onwards	8.55 onwards	8.55 onwards
Tamilnad Mercantile Bank	8.60-9.80	8.60-9.80	8.60-9.80
Bandhan Bank	8.91-15.00	8.91-13.08	8.91-13.08
RBL Bank	9.00 onwards	9.00 onwards	9.00 onwards
CSB Bank	10.11-11.84	10.11-11.84	10.11-11.84
HDFC Bank Ltd.	8.70 onwards	8.70 onwards	8.70 onwards
City Union Bank	10.05-15.45	9.85-15.45	9.85-13.75

*Extra interest rate concession of 0.05% to borrowers opting for insurance policy and extra 0.10% on green home projects.  **0.05% interest rate concession for balance transfer/ready to move proposals, Govt./PSUs/Top Corp. employees and salary account holders.  ***Additional concession of 0.10% for takeover loans.

Rates as of 16th April 2025

Source: Paisabazaar.com

 

Housing finance companies

 

LIC Housing Finance -- 8.25 per cent onwards.

 

Bajaj Housing Finance -- 8.25 per cent onwards.

 

PNB Housing Finance -- 8.55 per cent onwards.

 

Godrej Housing Finance -- 8.55 per cent onwards.  Below is the curated list of interest rates offered by various housing finance companies: 

HOUSING FINANCE COMPANIES (HFCs)
LIC Housing Finance	8.25 onwards	8.25 onwards	8.25 onwards
Bajaj Housing Finance	8.25 onwards	8.25 onwards	8.25 onwards
Tata Capital	8.75 onwards	8.75 onwards	8.75 onwards
PNB Housing Finance	8.50-14.50	8.50-14.50	8.50-11.45
GIC Housing Finance	8.80 onwards	8.80 onwards	8.80 onwards
SMFG India Home Finance	10.00 onwards	10.00 onwards	10.00 onwards
Sammaan Capital (Formerly Indiabulls Housing Finance)	8.75 onwards	8.75 onwards	8.75 onwards
Aditya Birla Capital	8.60 onwards	8.60 onwards	8.60 onwards
ICICI Home Finance	9.30 onwards	9.30 onwards	9.30 onwards
Godrej Housing Finance	8.55 onwards	8.55 onwards	8.55 onwards
*Extra interest rate concession of 0.05% to borrowers opting for insurance policy and extra 0.10% on green home projects.  **0.05% interest rate concession for balance transfer/ready to move proposals, Govt./PSUs/Top Corp. employees and salary account holders.  ***Additional concession of 0.10% for takeover loans.
Rates as of 16th April 2025
Source: Paisabazaar.com