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Home Loan Interest Rates Today

Home loan rates start at 7.20% and run past 10% depending on who you are, not just which lender you pick.

Home loan rates today
7.20 – 10.75% p.a.

Range across 12 lenders. The low end is a floor rate, not a typical offer.

as of 2026-08-15· Lender rate cardsreported
Repo rate
5.25%
Neutral stance
Next MPC
7 Oct 2026
Typical spread over repo
195–250 bps

The repo rate has been held at 5.25% since the August 2026 MPC, so the pass-through cycle from the last cuts is largely complete — meaning the spread between lenders right now reflects their pricing appetite rather than a lag.

By Nishit Kumar, Founder & Editor
Updated 17 August 2026
LenderTypeInterest rateBenchmarkProcessing feeMax tenure
Bank of BarodaPSU Bank7.20% – 9.40%Repo-linked (EBLR)Up to 0.5%, often waived30 yrs
Punjab National BankPSU Bank7.20% – 9.45%Repo-linked (RLLR)0.35%, max ₹15,00030 yrs
State Bank of IndiaPSU Bank7.25% – 9.20%Repo-linked (EBLR)0.35%, min ₹2,00030 yrs
Union Bank of IndiaPSU Bank7.35% – 9.50%Repo-linked (EBLR)Up to 0.5%30 yrs
Canara BankPSU Bank7.40% – 9.55%Repo-linked (RLLR)0.5%, max ₹10,00030 yrs
ICICI BankPrivate Bank7.50% – 9.60%Repo-linked (EBLR)0.5% + GST30 yrs
LIC Housing FinanceHFC7.50% – 9.75%LHPLR-linkedUp to 0.25%30 yrs
Kotak Mahindra BankPrivate Bank7.60% – 9.50%Repo-linked (EBLR)Up to 0.5%25 yrs
Bajaj Housing FinanceHFC7.70% – 10.50%BHFL floating reference rateUp to 1%32 yrs
HDFC BankPrivate Bank7.75% – 9.65%Repo-linked (EBLR)Up to 0.5%, min ₹3,00030 yrs
Tata Capital HousingHFC7.75% – 10.75%PLR-linkedUp to 1%30 yrs
Axis BankPrivate Bank8.00% – 9.90%Repo-linked (EBLR)Up to 1%, min ₹10,00030 yrs

Data as of 15 Aug 2026Source: Lender rate cards and published comparisons, August 2026Pending issuer verification

Worth knowing.Advertised rates are the floor, offered to salaried applicants with a credit score above 750–800 and a low loan-to-value ratio. Housing finance companies benchmark to an internal PLR rather than the repo rate, so their cuts pass through more slowly. Always compare the all-in cost: processing fee, legal and valuation charges, and any bundled insurance the lender attaches.

Beyond the table

A repo-linked home loan is priced as repo plus a spread. With the repo at 5.25% and floors around 7.20%, the best-case spread on offer is about 195 basis points. Your spread is fixed at sanction and does not improve as your credit score does — which is the mechanical reason a balance transfer can be worth doing even when the market rate has not moved.

Reset timing is worth understanding before you take the loan. External benchmark loans reset at least quarterly, so a cut announced in October may not reach your EMI until the following quarter. Lenders typically hold the EMI constant and adjust the tenure instead. That is fine when rates fall; when they rise it silently extends your loan, occasionally past the age limit, at which point the lender raises the EMI without much warning. Ask which one your lender does by default, and ask in writing.

Your numbers

₹50 L
₹10,000₹50,00,000₹20 Cr
18.5%36
120 years30
Monthly EMI
₹43,391
  • Principal48%
  • Interest52%
Principal
₹50,00,000
Total interest
₹54,13,879
Total payable
₹1,04,13,879
Interest as % of principal
108.28%
Growth over time
₹0₹27.3 L₹54.7 L₹82 L₹1.09 CrYr 1Yr 4Yr 7Yr 10Yr 13Yr 16Yr 19Yr 20
ValueAmount you put in

What this means.Over 20 years you repay more in interest than you borrowed. Cutting the tenure or prepaying early changes this sharply.

View the full breakdown (20 rows) →
YearPrincipal paidInterest paidBalance
1₹99,511₹4,21,182₹49,00,489
2₹1,08,307₹4,12,387₹47,92,181
3₹1,17,881₹4,02,813₹46,74,300
4₹1,28,300₹3,92,394₹45,46,000
5₹1,39,641₹3,81,053₹44,06,359
6₹1,51,984₹3,68,710₹42,54,375
7₹1,65,418₹3,55,276₹40,88,957
8₹1,80,039₹3,40,655₹39,08,918
9₹1,95,953₹3,24,741₹37,12,965
10₹2,13,274₹3,07,420₹34,99,691
11₹2,32,125₹2,88,569₹32,67,566
12₹2,52,643₹2,68,051₹30,14,923
13₹2,74,974₹2,45,720₹27,39,949
14₹2,99,279₹2,21,415₹24,40,670
15₹3,25,733₹1,94,961₹21,14,937
16₹3,54,525₹1,66,169₹17,60,412
17₹3,85,862₹1,34,832₹13,74,550
18₹4,19,968₹1,00,726₹9,54,582
19₹4,57,090₹63,604₹4,97,492
20₹4,97,492₹23,202₹0

At ₹50,00,000 over 20 years, Bank of Baroda holds the lowest advertised floor on our board.

Only these figures travel with you.

See Bank of Baroda’s terms

Questions

Will home loan rates fall further in 2026?

We do not forecast rates and would not trust anyone who does. What we can say is factual: the repo rate is 5.25% with a neutral stance, and the next MPC decision is due 7 October 2026. If a cut comes, repo-linked loans at banks reprice within a quarter, while housing finance company loans priced off an internal reference rate may not reprice at all.

Why is my rate higher than the rate advertised on this page?

Advertised rates are floors. They assume a salaried applicant with a credit score in the top band, a low loan-to-value ratio, and often a specific loan size. Self-employed income, a score below roughly 750, a higher LTV or a smaller ticket size each add to the spread.

What is EBLR and how is it different from MCLR?

EBLR is the external benchmark lending rate — in practice the repo rate plus the bank spread — and RBI requires banks to price floating retail loans off it. MCLR is an older internal cost-of-funds benchmark that transmits policy changes more slowly. If you are still on MCLR or a base rate, ask your bank to convert; it usually costs a small fee and it is almost always worth it.

Related reading

Sources

Every figure on this page is traced to the document it came from. Where a claim rests on a regulator or an institution’s own rate card, that is the link below — not a summary of it.

  1. [1]Monetary Policy Statement — policy repo rate— Reserve Bank of IndiaPrimaryas of 5 August 2026
  2. [3]Home, personal, vehicle and education loan rate cards — August 2026— Lender published rate cardsas of 15 August 2026
Worth knowing.Rates, fees and terms change frequently and vary by applicant. Everything here is general information, not personalised advice. Confirm the current terms directly with the institution before you apply. How we research and rate.