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Home Loan Interest Rates

Home Loan Interest Rate all Banks, Jul 2021

Last Updated 29th Jul 2021

Bank Home Loan Rate Processing Fee EMI Per Lakh
SBI 6.70% 0.40% , Min ₹ 10,000 ₹ 645
HDFC 6.75% 0.50%, Min ₹ 3,000, Max ₹ 10,000 ₹ 649
Bank of Baroda 6.75% Min ₹ 7,500 ₹ 649
ICICI Bank 6.75% 0.25% , Min ₹ 3,000, Max ₹ 5,000 ₹ 649
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Compare Best Home Loan Interest Rates of All Banks in India 2021

Bank Home Loan Rate Benchmark Type Processing Fee
SBI Home Loan Interest Rates
6.70% RLLR 0.40% , Min ₹ 10,000
HDFC Home Loan Interest Rates
6.75% PLR 0.50%, Min ₹ 3,000, Max ₹ 10,000
Citibank Home Loan Interest Rates
6.50% TBLR NIL
Bank of Baroda Home Loan Interest Rates
6.75% RLLR Min ₹ 7,500
ICICI Bank Home Loan Interest Rates
6.75% RLLR 0.25% , Min ₹ 3,000, Max ₹ 5,000
Axis Bank
6.66% RLLR 0.20% , Min ₹ 10,000, Max ₹ 25,000
PNB Housing Finance
7.35% PLR 0.50%, Min ₹ 10,000
LIC Housing Finance
6.66% PLR Min ₹ 10,000, Max ₹ 15,000
Bajaj Home Finance
6.80% PLR 0.35%
Sundaram Home Finance
6.95% PLR NIL
Kotak Bank
6.65% RLLR Max ₹ 10,000
Yes Bank
8.95% 1 Year MCLR 1.00%, Max ₹ 15,000
Syndicate Bank
6.95% RLLR 0.13% , Min ₹ 500, Max ₹ 5,000
IDFC First Bank
6.90% RLLR Min ₹ 5,000, Max ₹ 5,000
Karnataka Bank
8.55% RLLR 0.25% , Min ₹ 250
Indian Bank
7.55% RLLR 0.23% , Max ₹ 20,381

Which Bank is Giving the Lowest Interest Rate on Home Loan?

Currently, the lowest rate on home loan is 6.65%, a cut of 0.05% from the earlier rate of 6.7%. Lowest Home Loan Interest Rates have dropped on 1 April, 2021. As of 29 July, 2021, Kotak Bank provide the best housing loan rates starting at 6.65%. You can be eligible for lowest rates, if you are a salaried or a woman borrower and are buying a home of less than ₹ 30 Lakh.

Home Loan Rates for Loan of ₹ 30 Lakh and below as on 29 Jul, 2021

Interest rate for home loan of ₹ 30 Lakh and below is a bit lower than loan rate for higher loan amount. Lenders tend to give lower rates to the people who want to avail lower loan amounts. Following are the interest rate provided by different banks for home loans of ₹ 30 Lakh and below:-

Bank Name Interest Rate Tenure
HSBC Bank 6.64% 25 years
Kotak Bank 6.65% 20 years
Axis Bank 6.66% 30 years
SBI 6.70% 30 years
ICICI Bank 6.75% 30 years

Home Loan Rates for Government Employees as on 29 Jul, 2021

If a borrower is a government employee and wants to avail a home loan, then he/she has an added benefit as they get a lower interest rate than the general public.

Bank Name Interest Rate Benchmark
Citibank 6.50% TBLR
HSBC Bank 6.64% RLLR
Kotak Bank 6.65% RLLR
Axis Bank 6.66% RLLR
LIC Housing Finance 6.66% PLR

Current Rates on Housing Loan for Women Borrowers

Most of the lenders offer special discount on interest rates to the women borrowers to promote financial independence among women. Home loan to women is offered at lowest interest rates starting at 6.70%.

Bank Name Interest Rate Tenure
SBI 6.70% 30 years
HDFC 6.75% 30 years
Corporation Bank 6.80% 30 years
Bank of Maharashtra 6.90% 30 years
Canara Bank 6.90% 30 years

How to Calculate Housing Loan Interest Rate?

Home loan is a long term loan and it is important to estimate the EMI and interest on your loan before applying for one. You can calculate home loan interest rate using two methods:

EMI Calculator :- With the help of an EMI calculator, you can check the amount of EMI that you can comfortably service. To calculate the EMI, you have to enter following details:

  • Home loan amount
  • Interest rate
  • Loan tenure

You can also change the details to check the EMI for different amounts or tenure.

EMI Calculation Formula :- The another way to calculate the interest and EMI on home loan is using mathematical algorithm based on the formula, P x R x (1+R)^N]/[(1+R)^ (N-1). Here unit P is the principal amount, r is the rate of interest and n is tenure. Though the same formula can be used to drive a mathematical calculation yet using the online calculator is better, as it gives reliable results in no-time. These calculators are available at various online platforms, such as MyLoanCare.

Types of Interest Rates on Home Loans

Fixed rate of interests: If your loan is on a fixed interest rate, the rate of interest charged on the loan amount remains constant throughout the loan tenure which means your home loan EMI also remains constant throughout the repayment schedule.The biggest advantage of taking home loans at a fixed rate is that your Home Loan EMI remains constant and it allows you to manage your finances easily. These loans are easily the best if you expect the interest rates to go up in the near future. However, the flip side of fixed rate loans is that if market interest rates go down, you would still be paying high interest and hence, may end up in a loss. Some of the top banks that offers fixed or semi-fixed rate on home loan are:

Bank Name Interest Rate Processing Fee
Standard Chartered Bank 7.99% 1.00%, Min ₹ 5,000, Max ₹ 10,000
HDFC 7.40% 0.50%, Min ₹ 3,000, Max ₹ 10,000
PNB Housing Finance 10.75% 0.50%, Min ₹ 10,000

Floating rate of interest: If your loan is on floating rate of interest, your home loan rate is not fixed and keeps changing over the tenure of the loan. In floating interest rate home loan, the rates are linked to the external benchmarks like Repo Rates or T-Bill Rates that are market determined. Your Home Loan EMI may increase or decrease subject to changes in interest benchmark rates. You may opt to change the tenure of the loan, if you want to keep your EMI stable and not fluctuate with any rate changes.Floating rates are best suited when interest rates in the economy are on a declining trend. The flip side is that if interest rates go up, your EMIs may also go up which may negatively impact your monthly budget. The table below captures the various types of floating rate loans as defined by the external benchmark.

Bank Name Floating Interest Rate Processing Fee
SBI 6.70% 0.40%, Min ₹ 10,000
HDFC 6.75% 0.40%, Min ₹ 3,000, Max ₹ 10,000
Citibank 6.50% 0.40%
Bank of Baroda 6.75% 0.40%, Min ₹ 7,500
ICICI Bank 6.75% 0.25%, Min ₹ 3,000, Max ₹ 5,000

Floating Rate Loans or Fixed Rate Loans: Which are more popular?

Fixed Interest Rate Floating Interest Rate
Interest rate remains same throughout the year. Interest rate changes as benchmark rate changes.
Offered by select banks, HFCs or NBFCs. Offered by all banks, HFCs or NBFCs.
It is a popular choice among the people who want to plan their budget. EMIs may fluctuate which makes budget planning difficult.
If you can foresee that interest rate are going to increase then you should opt for this. If you expect that the rates will fall in future or you want to close the loan shortly, then you should opt for floating rate home loan

How is Home Loan Interest Rate Calculated?

Effective Interest rate=Base rate/External benchmark rate + Markup. In case of HFCs or NBFCs, the rate is linked with PLR and effective rate = PLR – Markup.

  • Base rate: Base rate is the standard lending rate decided by the lender for the lending of all retail products. The base rate is revised by the home loan lender from time to time.
  • Markup or spread: Markup or spread is the margin added by home loan lenders over and above the base rate. The Markup or spread may vary across home loan schemes.
  • External benchmark: As per RBI’s directives, lenders are bound to offer home loans linked to any of the external benchmarks such as RBI’s repo rate or three-month treasury bill rate, among others. The change in the external benchmark rate leads to a change in the home loan interest rate.
  • PLR : PLR or Prime Lending Rate is the internal benchmark of housing finance companies or NBFCs which they use to offer home loan at floating or fixed rates.
Particular Definition Lowest Rate Which rate type is currently used?
Base Rate linked Home Loan It is a rate which is set by the Reserve Bank of India and below which a lender cannot charge interest rate. Base rate was used before April 1, 2016. 5.50% Banks have discontinued base rate and have now shifted to RLLR. However, few borrowers continue to hold base rate linked loans from the past.
MCLR linked Home Loan MCLR was introduced on April 1, 2016. Marginal Cost of Fund based Lending Rate (MCLR) is the internal benchmark rate used by banks to fix the interest rate on floating rate loans. 5.50% MCLR rate-based loan have been discontinued. However, few borrowers continue to hold MCLR rate linked loans from the past.
PLR linked Home Loan Prime Lending Rate (PLR) is an internal benchmark rate used by NBFC and HFC to sanction home loans on floating rate. 14.35% All NBFCs and HFCs continue using PLR as the benchmark rate to fix their home loan rates.
Repo Rate linked Home Loan (RLLR) Repo rate is the interest rate at which the RBI lends money to commercial banks to provide short term funds requirements. 4.00% Repo rate is now used as an external benchmark for fixing the price of home loan by all banks like SBI, HDFC, ICICI in India.

What is MCLR and RLLR?

MCLR :- The full form of MCLR is the marginal cost of funds based lending rate. It is the lowest interest rate that a lender can offer to a borrower. The MCLR was introduced in 2016 and this system replaced the base rate system which was followed since 2010. It was used by all banks to set up the rates on home loan be adding a spread to it, before it got replaced by base rate based system by RBI.

RLLR :- The full form of RLLR is Repo Linked Lending Rate which means that it is a lending rate which is linked repo rate. This new system was introduced from October 2019. For example if RBI’s repo rate is 5.35 per cent and is cut by 25 basis points to settle at 5.15 per cent, the RLLR of all banks, having repo rate as the external benchmark, will also get reduced by 25 basis points and vice versa.

List of Top Best Banks for Housing Loans in India - Jul 2021

Factors that Affect Home Loan Interest Rate

Home loan interest rate is decided by the lender in accordance with the required terms and conditions to determine the home loan rate. However, there are certain factors taken into consideration to offer a home loan interest rate. These are listed as follows:

  • Interest rate type: The type of interest rate is distinguished into two-fixed and floating. In general, fixed home loan interest rate is higher than floating home loan interest rate.
  • Borrower’s credit score: A good credit score can help one grab a good home loan deal, while a lower credit score can force the home loan lender to charge a higher interest rate.
  • Occupation: Salaried individuals are likely to get a lower interest rate when compared to other employee types because salaried employees have fixed source of income.
  • Loan type: Home loan is an exclusive term that covers under its arm various home loan products such as home improvement loan, home renovation loan, and home purchase loan, among others.
  • Loan amount: A higher home loan amount will attract a lower home loan rate, while a small home loan amount will attract a higher interest rate.
  • Loan offers:In case one applies for a home loan with the applicable offers when the lender is offering various customer-centric promo offers, a negotiable home loan interest rate can be availed.
Home Loan InfoGraphic

Different Methods for Housing Loan Interest Rate Calculation

While all banks and other home lenders derive the current home loan interest rates, based on the above-mentioned factors, deriving the home loan interest on the borrowed loan amount is important for the borrower as well. Housing loan interest calculation can, however, be used differently as per different types of home loans interest calculation. These are listed as follows:

  • Flat rate method of home loan interest calculation: As per the flat rate method, the home loan interest rate is calculated on the original principal amount throughout the loan tenure. For instance, even when you borrow a home loan for 20 years, you will continue paying the interest on the whole of the borrowed amount throughout the 20 years. This method is also called the fixed method of home loan interest calculation.
  • Reducing balance method of home loan interest calculation: The reducing balance method, as the name suggests calculates the interest rate on the outstanding amount. As per this method, the principal component that is paid during the EMI is not chargeable for interest; thus the outstanding balance reduces with time, and the interest is charged only on the remaining principal amount. As per this method, the interest amount reduces with time.

Example of Flat Rate & Reducing Balance Method of Interest Calculation

The example of flat rate and reducing balance method of interest calculation can be understood with the table below.

Parameter Flat Rate Method Reducing Balance Method
Loan Amount ₹ 20 Lakh ₹ 20 Lakh
Tenure 10 years 10 years
Home loan interest rate 8.00% 8.00%
Monthly EMI ₹ 30,000 ₹ 24,266
Total Interest Payout ₹ 15,99,960 ₹ 9,11,805
Savings - ₹ 6,88,155

If you consider the flat rate method, in this case, the home loan EMI is calculated using the formula, (Principal + Total Interest Payable)/ Loan Tenure in Months. The total interest in this case, is however calculated using the formula, (principal*interest rate*loan tenure)/100. Thus, as per the above method, total interest earned is ₹ 15,99,960, while a monthly EMI of ₹ 30,000 is paid.

On the other hand, if you consider the reducing balance method, the EMI is calculated using the formula, P x R x (1+R)^N]/[(1+R)^ (N-1). Here P is the principal amount, r is the rate of interest, and n is the tenure. Thus, based on this method, the total interest payable is ₹ 9,11,805, while a monthly EMI of ₹ 24,266 is paid for 10 years.

Home Loan Details -Important Points to Know

The essential factors that you need to consider while choosing a home loan are as follows.

  • Eligibility : Loan available for both salaried and self-employed borrowers within the age group of 18 and 70 years.
  • Security : Mortgage of home you are planning to purchase, renovate or construct.
  • Loan Amount : In the range of ₹ 1 Lakh to ₹ 100 Cr.
  • Loan to Property Value Ratio : Varies from 65% to 90%.
  • Loan Tenure : Can range from 5 to 30 years.
  • Home Loan Interest Rates Benchmark : As per RBI guidelines, most banks have now shifted to RLLR (Repo Linked Lending Rate) which is based on Repo rate. NBFCs use PLR (Prime Lending Rate), as a benchmark to advance loans.
  • Interest Rates : The new Home loan Interest Rates start from 6.65%. Special rates for women borrowers.
  • Lowest EMI : Lowest EMI of ₹ 642 per lakh.
  • Processing Fees : Up to 0.5% of loan amount or Maximum ₹ 10,000, whichever is higher.
  • Prepayment Charges : NIL charges on floating rate home loans
  • Other Charges : Legal charges, technical charges etc.
  • Documents Required : Address Proof, Identity Proof, Income Documents, Property Documents.
  • Top Home Loan Providers : SBI, ICICI Bank, HDFC Bank, Axis Bank, HDFC, PNB Housing, Bank of Baroda.
  • Popular Home Loan Offers : Banks offer schemes for special categories of borrowers including women borrowers, senior citizens, NRIs etc. Banks also offer overdraft facilities to save interest on house loans. Some of the popular housing loan schemes are SBI home loan for women, HDFC Reach, Axis Bank 12 EMIs offer, Bank of Baroda pre-approved loans, Indiabulls e-home loans etc.

Home Loan Eligibility Calculator

You can check the home loan eligibility for the best banks based on your age, net income, existing obligations, property type, LTV ratio, and other factors. You can also add co-applicants to increase your loan eligibility. A maximum of 6 members can be added as co-applicant. High CIBIL score and stable job increases the chances of approval of your loan application.

Home Loan Comparison on Popular Loan Schemes

While all banks and HFCs in India offer multiple home loan schemes, some new schemes like Pradhan Mantri Awas Yojana and DDA are quite popular in India due to their unique features and special discounted rates. Banks like SBI, Axis Bank, Citibank, ICICI Bank, PNB and HDFC have many popular schemes for women loan borrowers, businessmen and existing bank customers. Some of the popular housing loan schemes have been captured in the table below:

Bank Scheme Features
SBIFor Women BorrowersLoan is offered at concessional rate starting @ 6.70%.
Maxgain Home loan with overdraft facility @ 6.80%
Axis Bank Home Loan Top UpLoan to get additional loan amount. Interest rate of top up loan starts @ 6.66%
Shubh Aarambh Home Loan Avail 12 EMI waiver offer at 7.75%
HDFC HDFC Reach Home loan with less documentation starting @ 8.75%
HDFC Trufixed Home Loan Home loan interest rates are fixed for a certain period of the loan tenure starting at 7.40%. As and when the fixed interest rate period ends, the loan is then continued as per the adjustable rates.
Bank of Baroda Pre-approved Home Loan Loan pre-approved by the bank @ 8.65% before the property is purchased by the applicant with a validity of 4 months
Citibank Home Credit Loan Home loan with overdraft scheme @ 6.85%
Citibank T-Bill Home Loan Innovative scheme in which floating rate home loans are benchmarked to 91 days Govt. T-Bill rate, thus making them completely transparent

Documents Required for Home Loan

Some of the Documents required for home loan are

Documents Required Salaried Self Employed
Application FormSigned with photographsSigned with photographs
Identity ProofPAN Card, Passport, Driving License, Aadhaar Card, Voter Id, Govt issued I-CardPAN Card, Passport, Driving License, Aadhaar Card, Voter Id, Govt issued I-Card
Certificate and Proof of Business ExistenceNAPAN, Sales tax/ Excise/ VAT/ Service tax registration, Copy of partnership deed, Trade license, Certificate of practice, Registration certificate issued by RBI, SEBI
Address ProofPassport, Driving License, Election ID Card, Electricity/ Telephone/ Mobile bill/ Bank statement (not more than 3 months old) Bank statement, Utility bill, Registry copy, Lease or rent agreement, TAN allotment letter
Age ProofPAN Card, Passport, Driving License, Voter ID Card, Birth Certificate, Employee ID Card (only for PSU/ Government employees), School/ college leaving certificate PAN Card, Passport, Driving License, Voter ID Card, Birth Certificate, Employee ID Card (only for PSU/ Government Employees), School/ College leaving certificate
Property DocumentsPast title chain – Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction loan/ extensionPast title chain – Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension

How to Get Lowest Home Loan Rates in India?

A home loan is a popular loan in the Indian market, provided the fact that many are able to fulfil their housing dreams via home loans. Also, the popularity of this loan has led to the establishment of plenty of home loan lenders in the market. Thus, choosing the most affordable home loan at the lowest home loan rate is a big task. However, one can follow the below mentioned to get the lowest home loan rate in India:

  • Maintain a good credit score: A credit score is one of the top factors considered for home loans, as it ensures the lender of the borrower’s repayment ability. Thus, maintaining a good credit score can help one attract loans at most affordable terms and conditions.
  • Joint home loans: Joint home loans are the best home loans for people who fear to bear home loan responsibility. Availing a home loan jointly, not only distributes the home loan burden but also helps one attain a lower home loan interest rate. This is because a joint home loan involves the creditworthiness of more than one individual; thus, a higher chance of loan repayment.
  • Opt for home loan balance transfer: As known, home loan interest rate is not universal to all lenders; indeed, it varies from one lender to another. Also, there’s always a lender who offers the lowest home loan rate. In case, you own a home loan with a lender that is offering a high rate, opting home loan balance transfer can help you transfer your home loan. Thus, even existing home loan borrowers can avail a home loan at the lowest home loan rate.
  • Home loan down payment: Home loan lenders are keen on getting the borrowed amount back from the borrower with respect to the maintenance of the home loan process. However, in case you make a downpayment of a home loan, it not only turns out to the benefit of the home loan lender but also for the borrower. This is because downpayment ensures the lenders of the borrower’s credibility. Thus, a lower home loan interest can be availed.

How to Reduce Home Loan Interest Rate Burden?

A home loan is a big responsibility that needs to be fulfilled in order to maintain one’s creditworthiness in the financial markets. However, the burden of home loans can always be reduced. This can be done by following the below mentioned:

  • Transferring of home loans to lenders with the lowest home loan interest rate
  • Increasing home loan EMIs can help one get rid of home loan quickly
  • Prepayment or part payment of home loans can help you save on home loan interest and can reduce the EMI burden
  • Making home loan down payments can also reduce the burden, as due to the reduction in the principal amount, the home loan EMI is also reduced
  • Opting for a longer loan tenure can distribute the EMIs finely. Thus the monthly home loan EMI burden can be altered


When did Home Loan Rates Drop?

Yes, on 1 April, 2021, the lowest home loan rates have been cut by 0.05% from 6.7 to 6.65%. As per the current rates, Kotak Bank offers home loan at a lowest rate of 6.65% .Previously, SBI was providing the best rate starting at 6.7%

What is the current interest rate for Home Loans?

The present Home Loan interest rates ranges between 6.65% to 20.00%.Home loan rates are dependent on your loan amount. Lower the loan amount, lower is the rate. However, some banks offer same rates for all loan amounts. Compare and calculate the overall cost while searching for a home loan.

How is Home Loan interest rate calculated?

The interest rate of Home Loan is linked to the repo rate. Thus, banks add a margin on the repo rate to arrive at Repo Linked Lending Rate (RLLR). Based on RLLR a small percentage is added to arrive at the Home Loan rate based on factors like the risk involved, the income of the borrower, and loan amount.

Which bank has the lowest housing rates of interest for the self-employed & salaried?

Generally, the home loan rates for self employed are higher than that for salaried borrowers as banks perceive a higher credit risk for self employed borrowers. The banks which offers lowest housing rate on home loans to self employed are Citibank at an interest rate of 6.50%. However, the banks which offers lowest housing rate on home loans for salaried employees are Kotak Bank at an interest rate of 6.65% .

What is the current home loan interest rate today as per RBI?

RBI does not announce home loan interest rates. RBI announces the benchmark with which home loan rates are linked. Each bank announces its home loan rate individually after applying a spread on the benchmark rate. The current lowest home loan rate is 6.65% which is offered by Kotak Bank.

What is the minimum and maximum tenure of house loan?

House Loans are generally long tenure loans and can range from 5 years to 30 years depending on the need of the borrower, his age and his repayment capacity.

What is the EMI for 20 lakhs Home Loan?

The EMI for 20 lakhs loan at the latest Home Loan interest rate of 6.65% for the tenure of 30 years is ₹ 641.96.

Which Home Loan is best fixed or floating?

The fixed Home Loan is best when you know that there will be a significant increase in the interest rate in the near future. Fixed Home Loan will secure you from any fluctuations of interest rate in the market. Floating Home Loan is best when you think that interest rate going to drop in the near future or the increase in the rate will neither be significant nor long term. In the case of floating rate, your interest rate is directly affected by the market rate.

Can I switch from a fixed rate to a floating rate during my Home Loan tenure?

Yes, most banks allow switching from fixed-rate Home Loan to floating rate Home Loan at any time during the tenure upon paying a small fee.

Can I apply for housing loan jointly with my spouse?

Yes, you can apply for a Home Loan jointly with an earning co-applicant (either be your spouse or your parents). Adding a co-applicant can increase your eligibility and you can also avail for a higher amount of loan as your co-applicant’s income also gets added with your income, and used jointly to calculate the loan amount you will be eligible for.

Which banks give the cheapest Home Loan?

Lowest Home Loan interest rate in India is 6.65% which is offered by Kotak Bank. Even after including the processing fees they charge on the loan, Kotak Bank are the cheapest Home Loan providers in India.

Is balance transfer a good idea for Home Loan?

Yes, if you are getting a higher interest rate than the market rate and paying a higher EMI than other banks, then you can opt for housing loan balance transfer and reduce your monthly burden.

Can I take top up on my existing Home Loan?

Yes, you can avail top-up on their running house loan provided you have made timely repayment of EMIs accrued on existing Home Loan. The interest rates on top-up loans are comparatively higher than home finance rates by 0.25-1%. The loan can be availed with minimal documentation.

Does Home Loan prepayment reduce interest?

When you make a prepayment of a Home Loan, you get the option of either reducing your EMI or the loan tenure. When you choose to lower the tenure of loan and keep the EMI same, then your total interest amount outgo will be less as compared to the interest amount outgo with the same tenure.

What are home improvement loan rates?

If you take a Home improvement loan against the mortgage of your house, you can get the loan at low rates at par with that of Home Loan from any of the leading banks. Home improvement loans are available for a tenure of up to 30 years and at interest rate starting from 6.65% which make them a highly affordable and preferred choice for borrowers looking to renovate their house.

Can I get a loan for land purchase?

Yes, you can get a plot loan if you are looking for a loan to buy land but bear in mind that the interest rates on plot loans are higher than Home Loans. The land loan can be taken up to 70% of a property's market value.

BankPlot Loan Interest RateProcessing Fee
Loan For Land Purchase7.05%Upto 0.5% of loan amount or ₹ 10,000
SBI 7.65% NIL
HDFC 7.05% Upto 0.50%
Min 3000; Max 10000
ICICI Bank 8.90% Upto 1.00%
PNB Housing Finance 8.35% Upto 0.50%

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Home Loan News - Jul 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
    Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
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