Mortgage Loan Interest Rates
| Mortgage Loan Interest Rates in India | |
| 5th December 2019 – RBI keeps Repo Rate unchanged at 5.15% | |
| Lowest Interest Rate | 8.70% |
| Processing Fee | Upto 1% of loan amount |
| Loan Tenure | Upto 15 years |
| Lowest EMI Per Lakh | ₹ 880 for 20 years |
| Prepayment Charges | Nil charges |
Loan Against Property Interest Rates Comparison
| Bank | Loan Against Property Rate | Processing Fee |
| SBI Loan Against Property | 10.00% | 1.00% |
| Max Rs. 50,000 | ||
| HDFC Loan Against Property | 9.65% | 0.25% |
| ICICI Bank Loan Against Property | 10.15% | 1.00% |
| Min Rs. 5,000 - Max Rs. 10,000 | ||
| Axis Bank | 11.35% | 0.50% |
| Min Rs. 10,000 - Max Rs. 10,000 | ||
| Citibank | 8.70% | |
| Indiabulls | 10.50% | 1.00% |
| Min Rs. 5,000 | ||
| PNB Housing Finance | 10.25% | 1.00% |
| Standard Chartered Bank | 10.10% | 1.00% |
| Min Rs. 10,000 | ||
| DBS Bank | 11.90% | 0.50% |
| Max Rs. 10,000 | ||
| Cholamandalam | 11.50% | 1.00% |
| Bajaj Finserv | 10.20% | 1.50% |
| Bank of India | 10.65% | 1.00% |
| Min Rs. 5,000 - Max Rs. 50,000 | ||
| DCB Bank | 12.72% | 1.00% |
| Union Bank of India | 11.50% | 0.50% |
| Syndicate Bank | 11.50% | 0.50% |
| Min Rs. 500 | ||
| HDFC Bank | 9.75% | 1.25% |
| Max Rs. 10,000 | ||
| Punjab and Sind Bank | 11.30% | 1.00% |
| Min Rs. 2,000 - Max Rs. 50,000 | ||
| Kotak Bank | 9.60% | 1.00% |
| Jammu And Kashmir Bank | 12.20% | 0.20% |
| IDBI Bank | 10.20% | 1.00% |
| Edelweiss | 12.00% | 1.00% |
| Piramal Housing Finance | 10.10% | 0.50% |
| Central Bank of India | 11.10% | 0.50% |
| Max Rs. 20,000 | ||
| Andhra Bank | 10.75% | |
| RBL Bank | 13.05% | 1.25% |
| Min Rs. 7,500 | ||
| PNB | 10.20% | 0.90% |
| Max Rs. 45,000 | ||
| UCO Bank | 10.80% | 1.00% |
| OBC | 10.95% | 0.50% |
| Karur Vysya Bank | 12.15% | 0.50% |
| IndusInd Bank | 9.50% | 2.00% |
| HSBC Bank | 9.80% | 1.00% |
| Min Rs. 10,000 | ||
| DHFL | 12.00% | 2.00% |
| Min Rs. 15,000 | ||
| Corporation Bank | 11.35% | 1.00% |
| IDFC First Bank | 11.80% | 1.00% |
| Min Rs. 5,000 | ||
| Canara Bank | 11.70% | 1.00% |
| Min Rs. 5,000 - Max Rs. 50,000 | ||
| Indian Overseas Bank | 10.85% | 0.62% |
| Min Rs. 890 - Max Rs. 8,900 | ||
| Allahabad Bank | 14.15% | 0.53% |
| Min Rs. 2,670 - Max Rs. 80,100 | ||
| United Bank of India | 10.75% | 1.00% |
| Yes Bank | 10.50% | 1.00% |
| South Indian Bank | 10.70% | 0.50% |
| Lakshmi Vilas Bank | 11.65% | 1.20% |
| Karnataka Bank | 10.90% | |
| Indian Bank | 12.25% | 1.17% |
| Federal Bank | 11.90% | 0.50% |
| Min Rs. 3,000 - Max Rs. 7,500 | ||
| Dhan Laxmi Bank | 11.68% | 1.50% |
| Min Rs. 10,000 |
Eligibility Criteria for Morgage Loans
- Minimum and Maximum Age – Individuals with minimum age of 21 years and maximum upto 65 years
Note: However, there are few banks which also give loans to individuals of 18 years and /or individuals up to 70 years of age. - Loan Tenure- Banks give loan upto a period of 15 years depending upon your age
Note: However, some banks may not offer a loan against property for more than 7 years or 9 years. Only selected banks offer mortgage loan up to 20 years. - CIBIL Score for Loan against property –
Banks gives loan based on market value or registered value of the property, whichever is lower.
- Bank consider 650 and above credit score to be eligible for mortgage loan
Note: In case of low CIBIL score, you can be eligible for few banks or NBFCs with some additional conditions like higher interest rate and higher margin
