Find the Lowest Home Loan Interest Rates in 2021

Owning the house of your dreams is one of the significant goals in one’s life. Realising this goal means a lot of hard work. Running pillar to post to find the property of your choice is the first step. The next major step will be funding the project.  Not all of us will be able to plough in our own funds to purchase or construct a house.  Availing of a home loan is the best source.  Finding a home loan with the lowest rate is the next challenge. Even a small percentile difference will make a huge impact on the cost of the home loan.

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Listed below are the Home Loan Interest Rates of some of the leading lenders in the market for comparison.

Name of the Lender Women Borrowers Others
SBI 7.45% p.a. 6.80% 7.50%p.a
ICICI Bank 6.75% 7.55% p.a. 6.75% 7.55% p.a. 
Bank of Baroda 6.75% 8.35% p.a. 6.75% p.a. To 8.35% p.a.
Bajaj Finserv 6.75% 8.50% p.a. 6.75% 8.50% p.a.
Central Bank of India 7.30% p.a. 7.30% p.a.
Tata Capital  6.90% p.a.onwards 6.90% onwards
Bank of Maharashtra 6.95% 8.40% p.a. 7.05% 8.40% p.a.

#1. SBI Home Loan

SBI is the largest lender that has pervaded the market, especially in the retail loan sector. SBI Home Loan Interest Rates is one of the lowest in terms of the range i.e., 6.75% to 7.50% p.a. 

  • Rate of  Interest:

Varies between 6.75% 7.50% p.a.

  • Eligibility

    • Age between 18 years and 70 years
    • Resident and Non-resident  Indians can apply for the loan.
  • Processing charges

0.40% of the loan amount with a minimum of Rs. 10000/- and a maximum of Rs. 30000/-

#2. ICICI Bank Home Loan

ICICI Bank Home Loans are provided at a very nominal rate. At present, ICICI Bank Home Loan Interest Rates is the second-lowest. The upper limit of interest is higher than SBI, which brings it down to the next level.

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  • Rate of Interest:

Ranges between 6.75% 7.55% p.a.

  • Eligibility:

      • Applicant should be aged between 21 years  to  65 years 
      • Should have a regular source of income
  • Processing charges

0.5% to 2% of the loan amount with a minimum of Rs. 1500/- to Rs.2000/-.

 #3.Bank of Baroda Home Loan

The retail loans segment of Bank of Baroda is quite popular, especially the home loans, as the norms associated with the home loan are simple and the rate of interest affordable. 

  • Rate of Interest: 

The rate of interest charged is between 6.75% p.a. To 8.35% p.a.depending on the customer’s credit score and risk rating. If the borrowers do not obtain a credit insurance cover, then there will be an additional cost of 0.05% p.a.

  • Eligibility

      • Salaried and self-employed individuals can avail the loan.
      • The entry age of the applicant is stipulated at  21 years and the exit age at 70 years.
      • Both resident and non-resident Indians can apply for the loan.
  • Processing charges

    • For a loan amount up to Rs. 50.00 lakhs: 0.50% of the loan amount with a minimum of Rs. 8500/- and a maximum of Rs. 15000/-
    • For a loan amount above Rs. 50.00 lakhs, 0.25% of the loan amount with a minimum of rs. 8500/- and a maximum of Rs. 25000/-

#4. Bajaj Finserv Home Loan

Bajaj Finserv is an NBFC into lending, asset management and wealth management. Bajaj  Finserv has paved its way into the retail loan segment with luring offers. 

  • Rate of Interest:

Ranges between 6.75% p.a. To 8.50% p.a. The credit risk rating of the customer is vital to decide on the applicable rate of interest. 

  • Eligibility:

    • The age should be between 23 years to 62 years for salaried individuals and 25 years to 65 years for the self-employed.
    • Salaried individuals must have a minimum 3-year work experience, and for the self-employed, the business’s existence for five years is a must.
  • Processing Fees:

The processing varies between 0.5% to 3% of the loan amount. 

#5. Central Bank of India Home Loan

Central Bank of India is a popular Public Sector Bank sought after due to its  Pan India presence. It has various innovative products and services to its credit, including Home Loans.

  • Rate of Interest:

Starts at 6.85% p.a.and goes up to 7.30% p.a.

  • Eligibility:

      • Individuals  and groups of individuals over 18 years of age can avail of the loan either singly or jointly.
      • Resident and non-resident Indians can apply.
  • Processing charges

9.50% of the loan amount subject to a maximum of Rs. 20000/-

#6. Tata Capital Home Loan

Tata Capital is a financial company belonging to the Tata Group and deals with various financial and service products. Tata Capital Home Loan is one such retail loan product.

  • Rate of interest:

The rate of interest starts at 6.90% p.a.

  • Eligibility:

      • Age should be between 24 years and 65 years
      • Both salaried and self-employed can apply.
      • The borrower’s credit score should be 750 and above.
  • Processing Charges

0.50% of the loan amount.

#7. Bank of Maharashtra Home Loan

  • Rate of Interest:

Ranges between 6.95% to 8.40% p.a.

  • Eligibility:

      • Should be aged between 21 years to 60 years
      • Resident and Non-resident Indians are eligible
  • Processing fees:

0.25% of the loan amount with a maximum of Rs. 25000/-


A quick run glance at the comparative list will give you an idea of the prevailing rates. You can observe the interest variation is a small as 0.05%,  but that could make a significant impact as the amount is enormous.

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