What is the current lowest home loan interest rate in India?

As of 2026, leading public sector banks like State Bank of India (SBI) and Bank of Baroda offer home loan interest rates starting from 8.40% p.a., with a special 0.05% interest concession for women co-borrowers.

How much income tax can I save on a Home Loan?

Under Section 24(b) of the Income Tax Act, you can claim a deduction of up to ₹2,00,000 on the interest repayment. Under Section 80C, you can claim up to ₹1,50,000 on the principal repayment. Together, this provides up to ₹3,50,000 in annual tax deductions (saving over ₹1,00,000 in the 30% tax slab).

What documents are required to apply for a digital home loan?

The initial in-principle sanction is 100% digital and paperless. You will need your PAN card, Aadhaar number (for instant e-KYC), last 6 months of bank statements, and salary slips / ITR. Property documents are required during final sanction and disbursal.

Can I transfer an existing high-interest home loan to another bank?

Yes! Home Loan Balance Transfer allows you to switch your outstanding loan to a bank offering lower rates (e.g. 8.40%), reducing your monthly EMI and saving Lakhs in interest over your loan tenure.

Are there any prepayment or foreclosure penalties on Home Loans?

Under RBI regulations, all floating interest rate home loans sanctioned to individual borrowers have ZERO prepayment or foreclosure charges. You can make part-payments anytime without extra fees.

Home LoansHome Loans

Lowest Rate from 8.40% p.a. • Zero Prepayment Charges

RBI & NHB Regulated Lenders

Rates from 8.40% p.a.

Top Home Loan Lenders & Interest Rates

Compare verified interest rates, processing fees, and digital sanction turnaround times from SBI, HDFC, ICICI, and Bank of Baroda.

EMI Calculator

State Bank of India (SBI)

SBI Regular Home Loan

Lowest Interest Rate in India

Interest Rate8.4% p.a.

Max AmountUp to ₹10 Cr

Max Tenure30 Years

Turnaround2 - 3 Days Digital In-Principle

Processing Fee: 0.17% (Min ₹2,000 to Max ₹10,000 + GST)

Lowest floating interest rate from 8.40% p.a.

0.05% interest concession for women borrowers

Zero prepayment penalty / foreclosure charges on floating rates

HDFC Bank

HDFC Bank Home Loan

Instant In-Principle Sanction in 15 Mins

Interest Rate8.5% p.a.

Max AmountUp to ₹10 Cr

Max Tenure30 Years

Turnaround15 Mins Digital Sanction

Processing Fee: 0.50% or ₹3,000 (Whichever is higher)

Digital in-principle sanction letter in 15 minutes

Special discounted rates for salaried & corporate professionals

Top-up loan facility up to ₹50 Lakhs for home improvement

Bank of Baroda

Baroda Home Loan Advantage

Zero Processing Fee Promo

Interest Rate8.4% p.a.

Max AmountUp to ₹10 Cr

Max Tenure30 Years

Turnaround48 Hours Approval

Processing Fee: ₹0 (Waived under active promotional campaign)

Savings account linked advantage: Offset idle funds against loan interest

Concessional interest rate for credit scores above 750

Complimentary credit card with pre-approved limit

Bajaj Housing Finance Ltd.

Bajaj Digital Home Loan

Sanctions Up to ₹15 Crores

Interest Rate8.5% p.a.

Max AmountUp to ₹15 Cr

Max Tenure32 Years

TurnaroundDisbursal in 48 Hours

Processing Fee: From 0.25%

High limit sanction up to ₹15 Crores for luxury apartments & villas

Swift disbursal within 48 hours post document verification

Extended tenure up to 32 years for lower monthly EMI

ICICI Bank

ICICI Express Home Loan

100% Paperless Digital Journey

Interest Rate8.75% p.a.

Max AmountUp to ₹5 Cr

Max Tenure30 Years

TurnaroundInstant Sanction Letter

Processing Fee: 0.50% - 1.00%

Instant digital sanction letter via online application

Aadhaar e-KYC and digital bank statement verification

Pre-approved property database across top Indian metro builders

Tata Capital Housing Finance

Tata Capital Home Loan

Tata Brand Trust • Zero Prepayment Penalty

Interest Rate8.6% p.a.

Max AmountUp to ₹5 Cr

Max Tenure30 Years

Turnaround3 Days Sanction

Processing Fee: From 0.50%

Zero pre-payment penalties on floating interest home loans

Structured EMI plans aligned with your expected annual salary increments

Transparent terms backed by legendary Tata brand governance

LIC Housing Finance Ltd.

LIC HFL Griha Suvidha

Affordable Housing & Pensioner Friendly

Interest Rate8.5% p.a.

Max AmountUp to ₹7.5 Cr

Max Tenure30 Years

Turnaround3 - 5 Days

Processing Fee: From 0.25%

Special Griha Suvidha scheme tailored for salaried & self-employed

Sanction before property finalization (pre-approved voucher)

Special loan extensions for pensioners and delayed retirement age

PNB Housing Finance

PNB Housing Unnati Loan

Self-Employed & Unorganized Income Friendly

Interest Rate8.5% p.a.

Max AmountUp to ₹5 Cr

Max Tenure30 Years

TurnaroundDoorstep Assistance in 48 Hrs

Processing Fee: From 0.50%

Unnati loans for self-employed with surrogate cash flow underwriting

Up to 90% property cost funding for loans under ₹30 Lakhs

Dedicated relationship manager with doorstep service

Interactive Calculation & Tax Deductions

Plan Your Home Loan with our Dedicated EMI Calculator

Calculate your exact monthly installments, view year-by-year amortization schedules, and maximize up to ₹3.5 Lakhs in annual tax deductions under Section 24(b) and Section 80C.

Section 24(b) Interest (₹2L Max)

Section 80C Principal (₹1.5L Max)

Year-by-Year Amortization

Calculate Home Loan EMI

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Home Loan Frequently Asked Questions

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