Buying a house is a big dream. Taking a home loan at a low interest rate can save you lakhs of rupees. The festive season is near, and banks are giving attractive home loan offers. Here we tell you which banks have the best interest rates.

According to Bankbazaar.com, as of September 9, the interest rates for a 20-year home loan of ₹50 lakh range from 7.3% to 9%. These rates depend on your credit score and income. This list shows top banks based on RBI data.

For loans up to ₹30 lakh, State Bank of India, Punjab National Bank, and Canara Bank offer rates starting at 7.50%. Bank of Baroda and Union Bank of India have similar starting rates of 7.45% and 7.35% respectively.

Interest Rates of Public Sector Banks

  • Canara Bank and Union Bank of India: Lowest rates in public sector banks. Rate starts at 7.3%. EMI for 20-year ₹50 lakh loan is around ₹39,670.
  • Bank of Baroda: Rate starts at 7.45%. EMI is ₹40,127 for 20-year ₹50 lakh loan.
  • SBI and PNB: Rate starts at 7.5%. EMI is ₹40,280 for 20-year ₹50 lakh loan.

Interest Rates of Private Banks

  1. ICICI Bank: Rate is 7.7%. EMI is ₹40,893 for 20-year ₹50 lakh loan.
  2. HDFC Bank: Rate starts at 7.9%. EMI is ₹41,511 for 20-year ₹50 lakh loan.
  3. Kotak Mahindra Bank: Rate is 7.99%. EMI is ₹41,791 for 20-year ₹50 lakh loan.
  4. Axis Bank: Rate is 8.35%. EMI is ₹42,918 for 20-year ₹50 lakh loan.
  5. Yes Bank: Rate is 9%. EMI is ₹44,986 for 20-year ₹50 lakh loan.