Top 5 banks offering low interest rates on home loans; check full list

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home loans. Even a marginal difference in the interest rate can lead to a significant difference in the total cash flow over a period of time. For instance, when you borrow ₹50 lakh for 15 years, interest rate of 9 percent and 9.5 percent can lead to total cash outflow of ₹96.71 lakh and ₹99.48 lakh respectively, i.e., a difference of ₹2.77 lakh over the loan tenure.

This is why a little difference in the rate of interest can lead to a significant difference in the cash outgo later on. ALSO READ | A home loan top-up can help borrowers get extra funds, says Kathuria of Easiloan HDFC Bank: HDFC Bank offers special interest rates in the range of 8.75 percent to 9.65 percent. The standard interest rate is between 9.40 percent to 9.95 percent.

So, the lowest interest rate that the bank charges on home loan is 8.75 per cent and it goes up to 9.95 percent. ICICI Bank: ICICI Bank charges two categories of interest rates on its home loans: special and standard interest rates. Special rates: The bank charges interest rates in the range of 9 to 9.10 percent per annum based on the CIBIL score.

For instance, when the credit score is 800, the bank charges 9 percent and when the score is between 750 to 800, the interest rate is 9 percent for salary borrowers and 9.10 percent for self-employed ones. These rates will be valid till May 31, 2024. Standard rates: These rates range between 9.25 percent to 10.05 percent based on the loan amount.

When the loan amount is below ₹35 lakh, the interest rate is between 9.25 per cent to 9.65 percent. For loans between ₹35 to ₹75 lakh, interest rate is 9.5 to 9.95 percent, as the table below shows. State Bank of India (SBI): SBI offers home loans in the range of 9.15 percent to 9.65 percent based on