HDFC Bank to SBI: Here are best home loan offers in India this January 2025

Notably, HDFC Bank offers rates between 10.85% and 24.00%, while the State Bank of India provides attractive rates starting from 11.45% with no processing fee.

In the bustling city of Mumbai live a young couple, Arjun and Meera,  determined to buy their first home. However, the most daunting task ahead of them was securing a home loan with the best possible interest rates. As of January 2, 2025, prospective homebuyers in India can benefit from competitive home loan rates offered by various lenders.

 

Top Lenders and Rates:

• HDFC Bank: 10.85% - 24.00%
• State Bank of India: 11.45% - 14.85% (No processing fee)
• ICICI Bank: 10.85% - 16.25%
• Tata Capital: Starting from 11.99%
• HSBC Bank: 10.15% - 16.00%
• Bajaj Finserv: 10.00% - 31.00%

 

EMI Highlights for Rs 5 lakh (5-year tenure):

 

• HDFC Bank: Rs 10,834 - Rs 14,384
• State Bank of India: Rs 10,984 - Rs 11,856
• HSBC Bank: Rs 10,660 - Rs 12,159

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Processing Fees:

Ranging from NIL at SBI to up to Rs 6,500 at HDFC Bank and various rates at others.

 

As per data shared by Paisabazaar,  HDFC Bank stood out with a competitive rate of 10.85% to 24.00%.

 

Tata Capital has rates starting at 11.99%, and State Bank of India offers a range from 11.45% to 14.85% with no processing fee.

 

Making Calculations

 

With HDFC Bank, EMI for a Rs 5 lakh loan would range between Rs 10,834 and Rs 14,384, while for Rs 1 lakh, it would be between Rs 2,167 and Rs 2,877. State Bank of India was appealing with an EMI of Rs 10,984 for Rs 5 lakh and Rs 2,197 for Rs 1 lakh, coupled with the advantage of no processing fee.

 

Home Loan Rates and Charges in India

HDFC Bank

 

Interest Rate: 10.85% - 24.00%

EMI for ₹5 lakh (5 years): ₹10,834 - ₹14,384

EMI for ₹1 lakh (5 years): ₹2,167 - ₹2,877

Processing Fee: Up to ₹6,500

 

Tata Capital

 

Interest Rate: 11.99% onwards

EMI for ₹5 lakh (5 years): ₹11,120 onwards

EMI for ₹1 lakh (5 years): ₹2,224 onwards

Processing Fee: Up to 5.5%

 

State Bank of India

 

Interest Rate: 11.45% - 14.85%

EMI for ₹5 lakh (5 years): ₹10,984 - ₹11,856

EMI for ₹1 lakh (5 years): ₹2,197 - ₹2,371

Processing Fee: NIL

 

ICICI Bank

 

Interest Rate: 10.85% - 16.25%

EMI for ₹5 lakh (5 years): ₹10,834 - ₹12,226

EMI for ₹1 lakh (5 years): ₹2,167 - ₹2,445

Processing Fee: Up to 2%

 

Bank of Baroda

 

Interest Rate: 11.05% - 18.75%

EMI for ₹5 lakh (5 years): ₹10,884 - ₹12,902

EMI for ₹1 lakh (5 years): ₹2,177 - ₹2,580

Processing Fee: Up to 2% (Max ₹10,000)

 

Axis Bank

 

Interest Rate: 11.00% onwards

EMI for ₹5 lakh (5 years): ₹10,871 onwards

EMI for ₹1 lakh (5 years): ₹2,174 onwards

Processing Fee: Up to 2%

 

Kotak Mahindra Bank

 

Interest Rate: 10.99% - 16.00%

EMI for ₹5 lakh (5 years): ₹10,869 - ₹12,159

EMI for ₹1 lakh (5 years): ₹2,174 - ₹2,432

Processing Fee: Up to 5%

 

Bank of India

 

Interest Rate: 10.85% - 16.10%

EMI for ₹5 lakh (5 years): ₹10,834 - ₹12,186

EMI for ₹1 lakh (5 years): ₹2,167 - ₹2,437

Processing Fee: Up to 1% (Min ₹250, Max ₹10,000)

 

Canara Bank

 

Interest Rate: 10.95% - 16.40%

EMI for ₹5 lakh (5 years): ₹10,859 - ₹12,266

EMI for ₹1 lakh (5 years): ₹2,172 - ₹2,453

Processing Fee: 0.50% (Max ₹5,000)

 

Punjab National Bank

 

Interest Rate: 11.40% - 17.95%

EMI for ₹5 lakh (5 years): ₹10,971 - ₹12,683

EMI for ₹1 lakh (5 years): ₹2,194 - ₹2,537

Processing Fee: Up to 1%

 

HSBC Bank

 

Interest Rate: 10.15% - 16.00%

EMI for ₹5 lakh (5 years): ₹10,660 - ₹12,159

EMI for ₹1 lakh (5 years): ₹2,132 - ₹2,432

Processing Fee: Up to 2%

 

Federal Bank

 

Interest Rate: 11.49% - 14.49%

EMI for ₹5 lakh (5 years): ₹10,994 - ₹11,762

EMI for ₹1 lakh (5 years): ₹2,199 - ₹2,352

Processing Fee: Up to 3%

 

Union Bank of India

 

Interest Rate: 11.35% - 15.45%

EMI for ₹5 lakh (5 years): ₹10,959 - ₹12,013

EMI for ₹1 lakh (5 years): ₹2,192 - ₹2,403

Processing Fee: Up to 1% (Max ₹7,500) 

Bajaj Finserv

 

Interest Rate: 10.00% - 31.00%

EMI for ₹5 lakh (5 years): ₹10,624 - ₹16,485

EMI for ₹1 lakh (5 years): ₹2,125 - ₹3,297

Processing Fee: Up to 3.93%

Punjab & Sind Bank

 

Interest Rate: 11.25% - 14.00%

EMI for ₹5 lakh (5 years): ₹10,934 - ₹11,634

EMI for ₹1 lakh (5 years): ₹2,187 - ₹2,327

Processing Fee: 0.50% - 1% 

South Indian Bank

 

Interest Rate: 12.85% - 20.60%

EMI for ₹5 lakh (5 years): ₹11,338 - ₹13,414

EMI for ₹1 lakh (5 years): ₹2,268 - ₹2,683

Processing Fee: Up to 2% 

UCO Bank

 

Interest Rate: 12.45% - 12.85%

EMI for ₹5 lakh (5 years): ₹11,236 - ₹11,338

EMI for ₹1 lakh (5 years): ₹2,247 - ₹2,268

Processing Fee: Up to 1% (Min ₹750) 

IDFC First Bank

 

Interest Rate: 10.99% onwards

EMI for ₹5 lakh (5 years): ₹10,869 onwards

EMI for ₹1 lakh (5 years): ₹2,174 onwards

Processing Fee: Up to 2%

 

Bank of Maharashtra

 

Interest Rate: 10.00% - 12.80%

EMI for ₹5 lakh (5 years): ₹10,624 - ₹11,325

EMI for ₹1 lakh (5 years): ₹2,125 - ₹2,265

Processing Fee: 1% (₹1,000 - ₹10,000) 

Karnataka Bank

 

Interest Rate: 13.68%

EMI for ₹5 lakh (5 years): ₹11,551

EMI for ₹1 lakh (5 years): ₹2,310

Processing Fee: Up to 2% (Min ₹2,500 & Max ₹8,500)

 

IndusInd Bank

 

Interest Rate: 10.49% onwards

EMI for ₹5 lakh (5 years): ₹10,744 onwards

EMI for ₹1 lakh (5 years): ₹2,149 onwards

Processing Fee: Up to 3.5%

Rates and charges as of 2nd January 2025 

Source: Paisabazaar.com