Home loan: Check out interest rates offered by SBI, ICICI Bank, HDFC Bank, Kotak Mahindra Bank

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Many state-owned and private lenders, including the State Bank of India (SBI), recently lowered the interest rates on home loans. The banks believe that reduced loan rates would see a resurgence in demand from consumers.

Here's a comparison of new home loan rates being offered by banks:

ICICI Bank: ICICI Bank reduced the home loan interest rate to 6.7 percent, the private sector lender said on March 5. The revised rate—the lowest in 10 years by the bank—came into effect the same day and will be applicable till March 31.

Customers can avail of the rate on loans of up to Rs 75 lakh. For loans above Rs 75 lakh, interest rates are pegged at 6.75 percent.

HDFC Bank: Mortgage lender Housing Development Finance Corporation (HDFC) cut its rate by 5 basis points for all retail customers effective March 4. One basis point is one-hundredth of a percentage point.

HDFC reduced its Retail Prime Lending Rate (RPLR) on
which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 5 basis points, the bank said in a statement. The change will benefit all existing HDFC retail home loan customers, it said.

With the rate cut, HDFC will now offer home loans at 6.75 percent to borrowers irrespective of the loan amount.

Kotak Mahindra Bank: Kotak Mahindra Bank on March 1 reduced the home loan interest rate 10 basis points (bps) to 6.65 percent per annum, the lowest in the market.

The special rate would applicable till March 31, 2021, across all loan accounts, the bank said in a statement. The private lender said the interest rates would be linked to borrowers’ credit score and the Loan to Value (LTV) ratio.

State Bank of India: The country’s largest lender  State Bank of India (SBI) has reduced the rate on home loans to 6.70 percent till March 31. The lender is also giving a 100 percent waiver on processing fees, the bank said on March 1.

The interest concession is based on the loan amount and CIBIL score of the borrower. SBI believes that it is important to extend better rates to customers who maintain good repayment history, the bank said.