Home Loan Interest Rates Calculator – India

Understand Home Loan Interest Rates and EMI in India

Home loans in India are offered by banks and NBFCs at varying interest rates depending on the applicant's profile, loan amount, tenure, and credit score. The interest rates typically range between 8% and 10% annually.

Key Factors That Affect Home Loan Interest Rates

• Credit Score (CIBIL): Higher scores (750+) get better rates
• Loan Amount: Lower amounts may attract slightly higher interest
• Loan Tenure: Longer tenures can reduce EMI but increase interest
• Fixed vs Floating Rate: Floating rates change with market conditions

Popular Banks & Current Housing Loan Rates

Here are some of the typical home loan interest rates in India (subject to change):

• State Bank of India (SBI): 8.40% – 9.40%
• HDFC Ltd.: 8.50% – 9.60%
• ICICI Bank: 8.60% – 9.50%
• Axis Bank: 8.70% – 10.00%
• LIC Housing: 8.45% – 9.90%

Tax Benefits on Home Loan

You can claim tax benefits under two sections:

• Section 24(b): Interest up to ₹2,00,000 per annum for self-occupied property
• Section 80C: Principal repayment up to ₹1,50,000 per annum

Who Should Use This Tool?

• First-time home buyers
• Individuals planning tax savings
• CA professionals and housing consultants
• Loan comparison websites

This calculator is a quick way to understand your housing loan commitment. For exact interest rates, consult with your lender or visit their official website.