Home Loan Comparison Calculator India 2026 — All Major Banks
A 0.5% difference in interest rate on a ₹50L loan over 20 years is a ₹5 lakh difference in total cost. Compare EMI and total interest across 10 major Indian banks and HFCs — with June 2026 rates.
Lowest rates — June 2026
Bank of Maharashtra
7.10%
Bank of India
7.10%
HDFC Bank
7.20%
SBI
7.25%
RBI Repo Rate: 5.25% (Apr 2026 — unchanged). Rates subject to credit profile and CIBIL score 750+.
Bank-wise home loan rates — June 2026
Home Loan Interest Rates — India June 2026
| Bank | Starting rate (Jun 2026) | Type | Processing fee | Best for |
|---|---|---|---|---|
| Bank of Maharashtra | 7.10% p.a. | Floating (EBLR) | 0.25% (min ₹10K) | Lowest rate — public sector |
| Bank of India | 7.10% p.a. | Floating (EBLR) | 0.25% (max ₹20K) | Lowest rate — public sector |
| SBI | 7.25% p.a. | Floating (EBLR) | NIL (limited offer) | Trust + doorstep service |
| HDFC Bank | 7.20% p.a. | Floating (EBLR) | 0.5% (min ₹3K) | Private sector — fast processing |
| PNB | 7.45% p.a. | Floating (EBLR) | 0.35% | Public sector reliability |
| Kotak Mahindra | 7.99% p.a. | Floating (EBLR) | 0.5% | Competitive private sector |
| ICICI Bank | 7.50% p.a. | Floating (EBLR) | 0.5% (min ₹3K) | Tech-forward, pre-approved |
| Axis Bank | 8.75% p.a. | Floating (EBLR) | 1% (min ₹10K) | Check current rate — higher spread |
| LIC HFL | 7.50% p.a. | Floating | ₹10,000 flat | Salaried buyers |
| Bajaj Housing Finance | 7.49% p.a. | Floating | 0.5% | Fast disbursal — private |
EMI and total interest comparison
EMI & Total Interest by Rate — 20-Year Loan
| Loan amount | Rate | 20-yr EMI | Total interest | Savings vs 8.5% |
|---|---|---|---|---|
| ₹50 lakh | 7.10% | ₹38,926 | ₹43.42L | ₹8.12L saved |
| ₹50 lakh | 7.50% | ₹40,280 | ₹46.67L | ₹4.87L saved |
| ₹50 lakh | 8.00% | ₹41,822 | ₹50.37L | ₹1.17L saved |
| ₹50 lakh | 8.50% | ₹43,391 | ₹54.14L | Baseline |
| ₹1 crore | 7.10% | ₹77,852 | ₹86.84L | ₹16.25L saved vs 8.5% |
| ₹1 crore | 7.50% | ₹80,559 | ₹93.34L | ₹9.75L saved vs 8.5% |
Frequently asked questions
Which bank has the lowest home loan interest rate in India in 2026?
As of June 2026, the lowest home loan interest rates in India are offered by public sector banks: Bank of Maharashtra and Bank of India start from 7.10% p.a., followed by PNB at 7.45%, SBI at 7.25%, and HDFC Bank at 7.20%. Private banks tend to be higher: ICICI at 7.50% and Axis Bank at 8.75%+. However, the actual rate you get depends on your CIBIL score (750+ for best rates), loan amount, LTV ratio, and employment type. A 0.5% difference on a ₹50L loan over 20 years saves approximately ₹4–₹5 lakhs.
What is the RBI repo rate and how does it affect home loans in 2026?
The RBI repo rate is 5.25% as of June 2026, unchanged since April 2026. Most home loans in India are linked to the Repo Rate (EBLR/RLLR — External Benchmark Lending Rate). When RBI cuts repo rate, EBLR-linked loans get cheaper within 3 months. Fixed-rate loans are unaffected by RBI changes. The spread (markup) above EBLR varies by bank and borrower profile. SBI's EBLR is currently 9.15% (5.25% repo + 2.65% spread + 25bps CRP); individual rates are EBLR minus a concession based on your credit profile.
Should I choose a fixed or floating rate home loan in India?
Floating rate loans (linked to repo rate) are currently 7.10–8.75%. Fixed rates are typically 9–11%. In June 2026, floating rates are more attractive since: (1) RBI has cut rates 125 basis points in 2025, and further cuts are possible; (2) Fixed rates are 1.5–3% higher than floating; (3) You'd need rates to rise sharply for fixed to be better. Choose floating if: you expect rates to stay flat or fall. Choose fixed if: your income is fixed (retiree/senior), you need certainty on EMI, or you believe rates will rise significantly.
What is the impact of a 0.5% rate difference on a home loan?
On a ₹50L loan over 20 years: At 7.5%, monthly EMI = ₹40,280 and total interest = ₹46.67L. At 8.0%, monthly EMI = ₹41,822 and total interest = ₹50.37L. Difference: ₹1,542/month and ₹3.70L total interest over the loan tenure. On a ₹1 crore loan, this difference doubles: ₹3,084/month and ₹7.40L total. This is why comparing even 0.25–0.5% across banks is worth the effort before signing a home loan offer letter.
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Disclaimer: Rates as of June 2026. Actual offers depend on your credit profile, loan amount, and LTV. Always verify current rates directly with the bank before applying.