Festive season home loan offers: Top banks' interest rates and EMIs for Rs 50 lakh loan

With the ongoing festival season, banks and financial institutions are offering competitive home loan deals. Compare the best rates now to save lakhs and make an informed decision.

Interest rates for a Rs 50 lakh home loan with a 20-year tenure vary between 7.3 to 9 percent across top banks, as per Bankbazaar.com data as of September 22. For this list, top banks by aggregate advances, based on RBI data, have been considered. However, actual rates may differ based on individual factors like credit score and income.

Union Bank of India and Canara Bank are offering the lowest home loan interest rates among public sector banks, starting at 7.3 percent, with an EMI of Rs 39,670 for a Rs 50-lakh loan over 20 years.

Bank of Baroda offers home loans starting at 7.45 percent rate, with an EMI of Rs 40,127 for a Rs 50-lakh loan spanning 20 years.

State Bank of India and Punjab National Bank offer loans starting at 7.5 percent interest, with an EMI of Rs 40,280 for a Rs 50-lakh loan over 20 years.

Among private banks, ICICI Bank offers home loans starting at 7.7 percent rate. The EMI for Rs 50-lakh, 20-year loan works out to Rs 40,893.

HDFC Bank offers home loans starting at 7.9 percent interest, with a monthly EMI of Rs 41,511 for a Rs 50 lakh loan over 20 years.

Kotak Mahindra Bank’s home loan starts at 7.99 percent. The EMI on Rs 50-lakh, 20-year home loan works out to Rs 41,791.

Axis Bank provides home loans from 8.35 percent interest, with an EMI of Rs 42,918 for a Rs 50 lakh loan over 20 years.

Yes Bank's home loan starts at 9 percent interest, with an EMI of Rs 44,986 for a Rs 50-lakh loan over 20 years.