The price of houses and flats has increased, and the middle class has lost the ability to buy with cash. So many people now buy houses and flats with loans. This is the easy way. However, before taking a home loan, you need to do a little research. You need to know which banks have lower interest rates. Take a loan from there. That’s it, only then will you not spend more money from your pocket while paying EMI.

If you look at government public sector jobs, you will see a lot of competition. And in this space, Union Bank of India is far ahead, leaving everyone behind. This bank is charging 7.15 percent interest on loans up to Rs 30 lakh.

This same rate is available for loans from 30 lakhs to 75 lakhs. However, in this case, the upper limit is 9.15 percent. So if you have a good credit score, you can consider taking a loan from Union Bank.

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Top 10 Best Home Loan Rates

(Based on Minimum Starting Interest Rates – Up to ₹40 Lakh)

  • Central Bank of India – 7.1%
  • Indian Overseas Bank – 7.1%
  • Bank of India – 7.1%
  • Bank of Maharashtra – 7.1%
  • Indian Bank – 7.15%
  • Bajaj Housing Finance – 7.15%
  • LIC Housing Finance – 7.15%
  • Union Bank of India* – 7.15%
  • State Bank of India (SBI) – 7.25%
  • Canara Bank – 7.25%

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What is the rate at State Bank?

State Bank of India is the largest public sector bank in India. And the interest rate of this bank is from 7.25 percent to 8.70 percent on a loan of Rs 30 lakh. And it is believed that this loan interest will be given even on large loan amounts.

Again, Bank of Baroda is giving loans at a rate of 7.45 percent to 9.25 percent up to Rs 30 lakh. However, if you take a loan of more than Rs 75 lakh, you may have to pay interest of up to 9.50 percent. The interest rate of this bank is higher than that of State Bank of India and Union Bank. However, the schemes and offers of Bank of Baroda are very good.

However, if we leave aside the banks, then LIC can give you a great offer. In this case, a loan is available at a rate of only 7.15 percent on a loan of up to Rs 30 lakh. Even if you borrow more than this, the interest rate is the same.