Grab Lowest Home Loan Interest Rates to Save on Your Repayment Buying a home remains one of the prized possessions for most as it assures them a permanent stay that a rental accommodation can hardly do so. Since homes don’t come cheap, one has to maintain savings across different periods to generate the sum that can be at par with the down payment amount. The rest amount will come in the form of a loan. You need to ensure the loan you choose must come with lower interest rates. The lower rates will help reduce the interest payment from your pocket. So, your search should be about the lowest home loan interest rate. Let’s check out the lenders that offer the same, in this post. SBI Home Loan Interest Rate The country’s largest lender State Bank of India (SBI) offers home loans at concessional interest rates of 8.15%-8.80% per annum. The rate of interest differs based on the loan amount, profession, gender, etc. While salaried female can access loans upto ₹30 lakh at 8.15%-8.25%, the male counterparts have to pay 8.20%-8.30% to service the same loan quantum. Self-employed female and male will get the loan at 8.30%-8.40% and 8.35%-8.45% per annum. As the loan application goes above ₹30 lakh to range upto ₹75 lakh, the rate of interest will be 8.40%-8.50% and 8.45%-8.55% for salaried female and male, respectively. The bank offers an interest rate of 8.55%-8.65% and 8.60%-8.70% for self-employed male and female, respectively. Loans above ₹75 lakh will come at an interest rate of 8.50%-8.65% and 8.65%-8.80% for salaried and self-employed, respectively. HDFC Home Loan Interest Rates HDFC Limited is one of the top lenders giving a competition of sorts to the public giant SBI. It keeps the rates affordable to ensure many buy a home with ease. Loans upto ₹30 lakh, above 30 lakh-75 lakh and above 75 lakh are available to salaried at 8.25%-8.75%, 8.50%-9.05% and 8.60%-9.15%, respectively. Whereas, self-employed will need to service at 8.40%-8.95%, 8.65%-9.20% and 8.75%-9.30%, respectively, for the same order of the loan amount. ICICI Home Loan Rates ICICI Bank is also a phenomenal lender offering a custom suite of home loan products. Loans upto ₹35 lakh, above ₹35 lakh-75 lakh and above ₹75 lakh are available at 8.65%-8.95%, 9.05%-9.20% and 9.10%-9.25% to salaried. On the other hand,
self-employed will access the same at 8.80%-9.10%, 9.20%-9.35% and 9.25%-9.40% per annum. Axis Bank Home Loan Interest Rates Axis Bank, like the previous three, also offers the ​lowest home loan rate​ of interest. While salaried can get the loan at 8.55%-9.20%, self-employed will have it at 8.65%-9.40% per annum. Use Home Loan EMI Calculator to Evaluate the Effect of Interest Rates Better You can use the home loan EMI calculator to assess the effect of interest rates on your repayment better. The calculator computes the Equated Monthly Installment (EMI) using the loan amount, tenure and interest rate. You can even get to know the total interest outgo over the loan tenure.