Home loans in October: top banks offer rates between 7.35% and 10.25%

Check the latest home loan rates for October: banks and HFCs offer interest from 7.35% to 10.75%, with extra concessions for select borrowers.

Home loan rates across India continue to show a mix of stability and minor fluctuations as banks and housing finance companies (HFCs) announce their latest offers for October. Borrowers looking to buy a house or refinance their existing loans have a variety of options, with rates largely ranging between 7.35 per cent and 10 per cent for most public sector banks, while private banks and HFCs offer competitive packages starting from 7.45 per cent.

 

Public sector banks' home loan rates 

Public sector banks have maintained relatively stable rates, making them a popular choice for salaried individuals and first-time homebuyers. According to Paisabazaar.com, State Bank of India offers loans starting from 7.50 per cent, while Bank of Baroda’s rates range from 7.45 per cent to 9.50 per cent, depending on the loan amount. Union Bank of India and Bank of India have slightly wider ranges, reaching up to 10 per cent, reflecting variations for larger loan amounts.

 

 

Several banks offer additional concessions: Union Bank of India provides a 0.05 per cent reduction for borrowers opting for an insurance policy, Canara Bank gives extra concessions under its CRG schemes, and UCO Bank allows a small discount for women borrowers and takeover loans.

 

Private banks and HFCs' home loan rates

Private lenders are increasingly aggressive in attracting borrowers. ICICI Bank and HSBC Bank start at 7.70 per cent, while HDFC Bank begins at 7.90 per cent. Axis Bank shows a broader range of 8.35 per cent to 11.90 per cent, highlighting differences based on borrower profiles and loan sizes. Smaller private banks such as Bandhan Bank and Karur Vysya Bank have wider spreads, reflecting higher-risk loans or specialised products.

 

Housing finance companies remain a strong alternative. LIC Housing Finance, Bajaj Housing Finance, and ICICI Home Finance offer starting rates between 7.45 per cent and 7.50 per cent, providing competitive options for salaried and self-employed borrowers. Some lenders, including PNB Housing Finance, have rates above 8 per cent, particularly for larger loans.

 

Top home loan rates in October 

Name of Lender	Loan Amount (Rs)
	Upto 30 Lakh	Above 30 Lakh & Upto 75 Lakh	Above 75 Lakh
PUBLIC SECTOR BANKS
State Bank of India	7.50-8.95	7.50-8.95	7.50-8.95
Bank of Baroda	7.45-9.25	7.45-9.25	7.45-9.50
Union Bank of India*	7.35-10.00	7.35-10.00	7.35-10.00
Punjab National Bank	7.50-9.35	7.45-9.25	7.45-9.25
Bank of India	7.35-10.10	7.35-10.10	7.35-10.35
Canara Bank**	7.50-10.25	7.45-10.25	7.40-10.15
UCO Bank***	7.40-9.50	7.40-9.50	7.40-9.50
Bank of Maharashtra	7.35-10.15	7.35-10.15	7.35-10.15
Punjab and Sind Bank	7.55-10.75	7.55-10.75	7.55-10.75
Indian Overseas Bank	7.35 onwards	7.35 onwards	7.35 onwards
Indian Bank	7.40-9.40	7.40-9.40	7.40-9.40
Central Bank of India	7.35-9.40	7.35-9.40	7.35-9.40
PRIVATE SECTOR BANKS
Kotak Mahindra Bank	7.99 onwards	7.99 onwards	7.99 onwards
ICICI Bank	7.70 onwards	7.70 onwards	7.70 onwards
Axis Bank	8.35-11.90	8.35-11.90	8.35-9.35
HSBC Bank	7.70 onwards	7.70 onwards	7.70 onwards
South Indian Bank	7.75 onwards	7.75 onwards	7.75 onwards
Karur Vysya Bank	8.50-10.90	8.50-10.90	8.50-10.90
Karnataka Bank	8.21-10.76	8.21-10.76	8.21-10.76
Federal Bank	8.75 onwards	8.75 onwards	8.75 onwards
Tamilnad Mercantile Bank	8.15-9.50	8.15-9.50	8.15-9.50
Bandhan Bank	8.41-15.00	8.41-12.58	8.41-12.58
RBL Bank	8.20 onwards	8.20 onwards	8.20 onwards
CSB Bank	8.30 onwards	8.30 onwards	8.30 onwards
HDFC Bank	7.90 onwards	7.90 onwards	7.90 onwards
City Union Bank	8.25-9.50	8.50-10.00	8.75-10.50
HOUSING FINANCE COMPANIES (HFCs)
LIC Housing Finance	7.50 onwards	7.50 onwards	7.50 onwards
Bajaj Housing Finance	7.45 onwards	7.45 onwards	7.45 onwards
Tata Capital	7.75 onwards	7.75 onwards	7.75 onwards
PNB Housing Finance	8.25-11.50	8.25-11.50	8.25-10.85
GIC Housing Finance	8.20 onwards	8.20 onwards	8.20 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	8.25 onwards	8.25 onwards	8.25 onwards
ICICI Home Finance	7.50 onwards	7.50 onwards	7.50 onwards
Godrej Housing Finance	7.75 onwards	7.75 onwards	7.75 onwards
*Extra interest rate concession of 0.05% to borrowers opting for insurance policy.  **Under CRG-Prime, CRG-1 & CRG-2, additional 5 bps concession for takeover/ready to move HL proposals & for salaried employees maintaining salary a/c with the bank.  ***Additional concession of 0.05% & 0.10% for women borrowers & takeover loans, respectively.
Rates as of 22nd October 2025
Source: Paisabazaar.com

 

Borrowers’ takeaways

• Many banks offer extra concessions for insurance-linked loans, salary account holders, women borrowers, and loan takeovers.
• Comparing rates from multiple lenders can save significant interest over the loan tenure.