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 Loan Upto Rs. 30 Lacs Above Rs. 30 Lacs
30 Years 897 908
25 Years 927 938
20 Years 982 992
15 Years 1,090 1,100
10 Years 1,335 1,344
5 Years 2,137 2,144
Rate of Interest 10.25% 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 Company 5 Years 10 Years 15 Years 20 Years
Axis Bank 2,174 1,378 1,137 1,032
Bank of Baroda 2,162 1,363 1,121 1,015
Bank of Maharashtra 2,149 1,363 1,137 1,032
Canara Bank 2,174 1,392 1,168 1,066
Central Bank of India 2,149 1,349 1,105 998
Corporation Bank 2,162 1,363 1,137 1,032
HDFC Limited 2,162 1,363 1,121 1,015
ICICI Bank 2,149 1,349 1,105 998
IDBI Bank 2,162 1,363 1,121 1,015
Indiabulls Housing Finance 2,149 1,349 1,105 998
Union Bank of India 2,149 1,349 1,105 998
Oriental Bank of Commerce 2,162 1,363 1,121 1,032
Punjab National Bank 2,162 1,363 1,121 1,015
State Bank of India 2,137 1,335 1,090 982

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.

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