Ahead of the RBI Policy: Major Banks Reveal Fresh Home Loan Interest Rates - Check Who’s Cheaper

Buying a home has never been more challenging. Skyrocketing property prices and rising living costs are making it tougher for ordinary buyers to afford a house without financial support. As a result, most people now rely on home loans and with the RBI’s monetary policy decision coming up soon, all eyes are on interest rates.

Ahead of the policy announcement, several leading banks have updated their home loan rates . If you’re planning to apply, this detailed roundup will help you understand where each bank stands and what you can expect.

SBI Home Loan Interest Rates

India’s largest lender, State Bank of India, continues to be a preferred choice for home buyers. SBI offers home loan interest rates starting at 7.50%, which can go up to 10.75%. The rate you get depends mainly on your CIBIL score, higher the score, lower the rate. For many first-time buyers, SBI’s transparency and lower starting point make it a reliable option.

Bank of India Home Loan Interest Rates

Bank of India (BOI) has released a fairly wide range, with rates starting at 7.35% and going up to 12.15%.
This range gives borrowers flexibility, but the final rate depends on factors like income stability, credit history, and loan amount. BOI’s competitive starting rate can make it appealing for financially strong applicants.

Bank of Baroda Home Loan Interest Rates

Another major public sector bank, Bank of Baroda (BoB), has kept its rates attractive, beginning at 7.35%.
The bank has gained popularity in recent years for its quick loan processing and borrower-friendly schemes. With a starting rate tied with BOI, it stands out for customers looking for lower EMI options.

PNB Home Loan Interest Rates

Punjab National Bank (PNB) offers home loans at rates between 8.25% and 10.65%. Compared to other PSU banks, PNB’s starting rate is slightly higher, but it remains a trusted choice due to its wide network and flexible repayment plans.

HDFC Bank Home Loan Interest Rates

India’s largest private sector bank, HDFC Bank, provides home loans starting from 7.90% and going up to 13.20%. HDFC has long been known for its strong home loan portfolio and customer support. While the starting rate is competitive, the upper limit is higher due to its risk-based pricing and varied loan categories.

ICICI Bank Home Loan Interest Rates

ICICI Bank offers home loan rates between 8.75% and 11.80%. This places ICICI slightly higher in comparison to other private banks on the lower end, but many borrowers still prefer it for seamless digital processing and faster approvals.

Axis Bank Home Loan Interest Rates

Axis Bank has announced home loan rates ranging from 8.35% to 11.90%. Its mid-range pricing, coupled with flexible tenure options, makes Axis Bank a solid contender for salaried as well as self-employed applicants.

What This Means for Borrowers

With the RBI’s monetary policy around the corner, these rates may shift depending on the central bank’s stance on inflation and liquidity. For now, the takeaway is clear:

• Public sector banks offer some of the most competitive starting rates.
• Your CIBIL score can significantly influence your final interest rate.
• Comparing banks before applying can save you lakhs over the loan tenure.

If you're planning to buy a home, this is the time to do your homework, get your credit score in shape, and be ready to lock in a rate that aligns with your budget.