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Top 5 Banks with Lowest Home Loan Interest Rates 2024

Author:  Sachin Gupta

Published : 23 May 2023

Looking for best home loan rates? We’ve got you covered. Compare lowest home loan interest rates starting from 8.35% p.a. & find best options available in 2024 from leading banks & financial institutions.

Interest Rate

8.30% p.a. onwards  

Bank of India

Processing Fees

 0.50% of loan amount  

Bank of India offers lowest starting interest rate for home loans with no processing fees, making it excellent choice for borrowers looking to save on upfront costs.

Interest Rate

8.35% p.a. onwards

Union Bank of India

Processing Fees

 0.50% of loan amount  

Union Bank of India provides competitive rates & reasonable processing fees, ensuring affordability & value.

Interest Rate

8.35% p.a. onwards  

LIC Housing Finance 

Processing Fees

- Up to  ₹  1 crore: 0.25% of loan amount (max   ₹  15,000 + GST)   - Above  ₹  1 crore & up to  ₹  2 crore:  ₹  20,000 + GST   - Above  ₹  2 crore & up to  ₹  5 crore:  ₹  25,000 + GST   - Above  ₹  5 crore & up to  ₹  15 crore:  ₹  50,000 + GST

LIC Housing Finance offers attractive interest rates with tiered processing fees based on loan amount, providing flexibility for various borrowing needs.

Interest Rate

8.35% p.a. onwards

Bank of Maharashtra

Processing Fees

No processing fees 

Bank of Maharashtra combines low interest rates with zero processing fees, making it cost-effective option for home loan seeker

Interest Rate

8.35% p.a. onwards

Central Bank of India

Processing Fees

0.50% up to ₹ 20,000 + GST (waived till 31 March 2024)  

Central Bank of India offers competitive rates with waiver on processing fees until March 2024, providing additional savings for borrower

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