If you’re dreaming of buying your own home this monsoon season, now could be the perfect time. Many leading banks in India are offering home loans at attractive interest rates, making it easier for buyers to take the big step without the burden of high EMIs.
However, keep in mind that the actual home loan interest rate you get will depend on your credit score, income, loan amount, and tenure. Once you apply, the bank will evaluate your profile and determine your applicable rate.
Top Banks Offering Low-Interest Home Loans (As of July 2025)
| Bank Name | Interest Rate (Per Annum) | Processing Fee |
|---|---|---|
| SBI | From 8.40% | Up to ₹10,000 or 0.35% of loan amount |
| HDFC Bank | From 8.45% | ₹3,000 – ₹5,000 |
| ICICI Bank | From 8.50% | ₹2,500 or 0.50% of loan amount |
| Bank of Baroda | From 8.35% | Up to ₹8,500 |
| Axis Bank | From 8.60% | ₹10,000 or 1% of loan amount |
| Union Bank of India | From 8.25% | Up to ₹7,500 |
| Punjab National Bank (PNB) | From 8.40% | ₹5,000 or as per bank’s terms |
Tips to Get a Cheaper Home Loan:
Maintain a Credit Score of 750+ – Higher scores often get lower interest rates.
Show Stable Income – Have your salary slips, bank statements, and IT returns ready.
Lower Loan-to-Value (LTV) Ratio – The higher your down payment, the better your chances of getting a lower rate.
Compare Interest Rates Online – Use official bank websites or trusted comparison tools.
Understand Floating vs Fixed Rates – Floating rates may be cheaper initially but are subject to market fluctuations.
Conclusion
If you’re planning to buy a house this monsoon, the above bank list can help you choose the best home loan option with the lowest interest rates. Make sure to compare carefully and choose a lender that matches your budget and financial goals — and you could soon own your dream home with a manageable EMI.
Author Profile
- My name is Kuldeep Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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