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Compare Interest Rates of Home Loan
If you compare home loans provided by other online services, youâll find that CreditNation gets you the best deal available.
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| Bank | Salaried | Self-Employed |
|---|
| Axis | | Interest Rate: |
|---|
| Loan Amount | Floating Interest Base Rate + Mark Up=EFOI | Fixed Interest | | Up to 28lakhs | 9.50% + 0.10% = 9.60% | 11.75% p.a. | | Above 28Lakhs | 9.50% + 0.15% = 9.65% | | Top Up | 9.50% + 2.25% = 11.75% |
| | Interest Rate: |
|---|
| Loan Amount | Floating Interest Base Rate + Mark Up=EFOI | Fixed Interest | | Up to 28lakhs | 9.50% + 0.20% = 9.70% | 11.75% p.a. | | Above 28Lakhs | 9.50% + 0.25% = 9.75% | | Top Up | 9.50% + 2.25% = 11.75% |
|
Pre-payment charges Floating: NIL
Pre-payment charges Fixed: 2% of principal outstanding |
| Processing Fees: up to 1% of loan amount + service tax |
| Tata Capital | | Interest Rate: |
|---|
| Loan Amount | Floating Interest | Fixed Interest | | Any amount (online Customer) | 9.70% | | | Up to INR1.5Crs. | 9.70% - 9.90% | | Over INR 1.5 Crs. | 9.70% - 10.00% |
| | Interest Rate: |
|---|
| Loan Amount | Floating Interest | Fixed Interest | | Any amount (online Customer) | 9.80% | | | Up to INR1.5Crs. | 9.80% - 10.00% | | Over INR 1.5 Crs. | 9.90% - 10.25% |
|
Pre-payment charges Floating: NIL
Pre-payment charges Fixed: 2% of principal outstanding |
| Processing Fees: up to 1% of loan amount + service tax |
| India Bulls | | Interest Rate: |
|---|
| Loan Amount | Floating Interest | Loan Amount | Fixed Interest | | Up to INR 300 Lakhs | 9.55% - 11.25% | Up to INR 75 Lakhs | 10.05% - 11.00% | | More than INR 300 Lakhs | 10.25% - 11.75% | More than INR75 Lakh & up to INR150 Lakhs | 10.20% - 11.20% | | More than 150 Lakhs | 10.50% - 12.00% |
|
| Pre-payment charges Floating: NIL |
| Processing Fees: up to 1% of loan amount + service tax |
| DHFL | | Loan Amount | Interest Rate | | Up to 25Lakhs Above 25Lakhs to 75Lakhs Above 75Lakhs to 100Lakhs | 9.90% | | Above 100Lakhs to 150Lakhs | 10.25% | | Above 150Lakhs to 300Lakhs | 10.50% | | Above 300Lakhs | 10.75% |
| | Loan Amount | Interest Rate | | Up to 25Lakhs Above 25Lakhs to 75Lakhs Above 75Lakhs to 100Lakhs | 10% | | Above 100Lakhs to 150Lakhs Above 150Lakhs to 300Lakhs | 11% | | Above 300Lakhs | 11.55% |
|
Pre-payment charges Floating: NIL
Pre-payment charges Fixed: 2% of principal outstanding |
| Processing Fees: up to 2% of loan amount + service tax |
| Federal | | Interest Rate |
|---|
| Loan Amount | Floating Interest | Fixed Rate(Base Rate) | | Up to INR 75Lakhs | 9.68% - 9.83% | 9.63% | | Above INR 75Lakhs | 9.98% - 10.08% |
|
| Pre-payment charges: NIL |
| Processing Fees: up to 2.50% of loan amount + service tax |
| Aditya Birla | | Loan Amount | Interest Rate |
|---|
| Up to 10 Crore | 10% |
| | Loan Amount | Interest Rate |
|---|
| Up to 10 Crore | 10.5% |
|
| Pre-payment charges Floating: NIL Pre-payment charges Fixed: 2% of principal outstanding |
| Processing Fees: up to 1% of loan amount + service tax |
| Megma Fincorp | | Loan Amount | Interest Rate |
|---|
| Up to 10 Crore | 10.15% |
| | Loan Amount | Interest Rate |
|---|
| Up to 10 Crore | 10.5% |
|
| Pre-payment charges: up to 4% of principal outstanding |
| Processing Fees: up to 1% of loan amount + service tax |
| RAAS | | Loan Amount | Interest Rate |
|---|
| Up to 50Lakhs | 10.00% |
| | Loan Amount | Interest Rate |
|---|
| Up to 50Lakhs | 10.15% |
|
| Pre-payment charges: up to 4% of principal outstanding |
| Processing Fees: up to 2.% of loan amount + service tax |
| LIC | | Loan Amount | Interest Rate |
|---|
| Up to 15Crore | 9.65% |
| | Loan Amount | Interest Rate |
|---|
| Up to 15Crore | 9.90% |
|
| Pre-payment charges: -up to 2% from Balance Transferâs side -NIL from own source |
| Processing Fees: 0.50% of loan amount + service tax |
| PNB | | Interest Rate |
|---|
| Loan Amount | Floating Interest (Base Interest) | Fixed Interest (Base Rate + 0.50%) | | Any Loan Amount | 9.60% | 9.60% + 0.50% = 10.10% |
|
| Pre-payment charges: up to 4% of principal outstanding |
| Processing Fees: up to 2.50% of loan amount + service tax |
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As you may already know there are various types of interest rates that banks play upon, and they have two ways in which these interest rates are calculated-
- Flat rate of interest
- Reducing rate of interest
The flat rate of interest also known as fixed rate of interest has a fixed interest rate based upon the initial principal amount. So, even if the overall principal amount is reduced over the years, you still pay a fixed interest till the very end.
However, in the Reducing rate of interest type, the interest is calculated on the pending principal amount. So, as the principal amount keeps reducing, the interest keeps reducing as well and you end up paying less.
plying for a home loan is a huge investment, an agreement that usually lasts for a couple of years. It is not something one should overlook. And while there are many banks available such as Axis, Tata Capital, India Bulls, DHFL, Federal, Aditya Birla and many more, it can get quite confusing to figure out the best home loan rates. Home loan lenders use a simple method to calculate the principal and interest, however the interest rate calculation and other minor details can make a huge difference. So itâs advisable to compare home loan rates with CreditNationâs proficient team that makes the selection process very simple by providing you a detailed layout plan of what each bank has to offer based on your requirement, and also helping you understand what each clause stands for.
CreditNation Can Get Your Interest Rates as Low As 9.10%!
Whether you wish to opt for fixed or floating rates, or you want low EMIâs, or you wish for nil prepayment rates, we at CreditNation can get you the best home loan interest rates in India.
Other benefits that CreditNation brings to you are:
- Multiple repayment options
- Faster processing
- Doorstep service
- Flexi EMIâs
- Higher home loan eligibility
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