SBI offers lowest Home Loan Rates

India’s largest bank – State bank of India (SBI) had recently cut its Home Loan rates. This is lowest home loan rate in the market as of today. The new Home Loan rates are effective from August 7, 2012. The rate of interest is 10.25% for Home loan up to Rs. 30 Lacs and 10.40% for loan above Rs. 30 Lacs.

Here are how EMIs work out per Lac for different tenures of 5 – 30 years.

Period of LoanUpto Rs. 30 LacsAbove Rs. 30 Lacs
30 Years897908
25 Years927938
20 Years982992
15 Years1,0901,100
10 Years1,3351,344
5 Years2,1372,144
Rate of Interest10.25%10.40%
SBI Home Loan

SBI Home Loan Interest Rates

Home Loan EMI Comparison:

Below is the table showing EMI per Lac for different Home Loan providers for tenure of 5, 10 , 15 and 20 Years. This EMI is for loan amount of up to Rs. 30 Lacs.

Home Loan Company5 Years10 Years15 Years20 Years
Axis Bank2,1741,3781,1371,032
Bank of Baroda2,1621,3631,1211,015
Bank of Maharashtra2,1491,3631,1371,032
Canara Bank2,1741,3921,1681,066
Central Bank of India2,1491,3491,105998
Corporation Bank2,1621,3631,1371,032
HDFC Limited2,1621,3631,1211,015
ICICI Bank2,1491,3491,105998
IDBI Bank2,1621,3631,1211,015
Indiabulls Housing Finance2,1491,3491,105998
Union Bank of India2,1491,3491,105998
Oriental Bank of Commerce2,1621,3631,1211,032
Punjab National Bank2,1621,3631,1211,015
State Bank of India2,1371,3351,090982

Updated: August 7, 2012                                     Source: Company Websites

Disclaimer:  We have tried to keep interest rates up to date, but as these change frequently you are advised to check with the home loan institutions before going ahead. Also it would be great if you can point out any errors through comments or email!

2 thoughts on “SBI offers lowest Home Loan Rates

  1. Manish Purohit says:

    Sir,

    Please calculate my EMI for 20 years when I am getting loan of below 15 lac, where Govt of India gives 1% sub vation in interest.

    Bank Is SBI.

Leave a Reply

Your email address will not be published. Required fields are marked *