Home Loan Interest Rates 2026: All Banks Compared

Home loan interest rates in India start at about 7.4%–7.5% a year in November 2026 for borrowers with a strong credit score, and go up to around 10%–13% for weaker profiles. SBI charges 7.50% to 8.80%, and Canara Bank 7.45% to 10.25%, on rates both banks revised after RBI raised the repo rate to 5.50% on 7 October 2026.

Almost every home loan in India is floating-rate, so your rate moves when the repo rate moves. RBI's latest move was up: the Monetary Policy Committee raised the repo rate from 5.25% to 5.50% and changed its stance to "calibrated tightening", noting, as reported by SCC Online, that inflation pressures are "no longer as benign" as last year.

On a ₹50 lakh loan for 20 years:

The gap between the best and the worst rate in this table is ₹21 lakh of interest on the same house. Check your own figures in the Home Loan EMI Calculator.

Rates below are the published range for a regular home loan to a salaried borrower. The lowest rate goes to the strongest credit profiles; most borrowers are offered something higher.

We confirmed the SBI and Canara Bank rates on the banks' own rate cards after the 7 October hike. The other rates are from BankBazaar's October 2026 listing and may not yet include the hike: repo-linked rates at most banks rose by 0.25 percentage points within days of it. Confirm your rate in the Key Fact Statement (KFS), which every lender must give you before you sign.

SBI charges 7.50% to 8.80% on a regular home loan from 15 October 2026, set by your CIBIL score. All SBI home loans are linked to its external benchmark lending rate (EBLR), which is 8.15%, so the best borrowers pay 0.65 points below EBLR and the weakest pay 0.65 points above it.

Self-employed and other non-salaried borrowers with a CIBIL score below 825 pay 0.10 points more. On ₹50 lakh for 20 years, that is ₹306 a month, or about ₹73,500 over the loan.

HDFC Bank's home loan rates range from 8.00% to 13.45%, per BankBazaar's October 2026 listing, with a processing fee of up to 0.50% (minimum ₹4,000). The wide range reflects HDFC's pricing by credit score, income type and loan size: salaried borrowers with scores above 800 get rates near the bottom, while weaker or self-employed profiles can be priced several points higher.

Canara Bank prices home loans at its repo-linked lending rate (RLLR) of 8.25% from 9 October 2026, plus a premium for your internal credit grade, minus a concession that grows with the loan size:

Women borrowers pay 0.05 points less. Another 0.05 points comes off for ready-to-move homes or loans taken over from another bank, and another 0.05 points for salaried employees of government, PSUs and large companies who move their salary account to Canara. The floor is 7.40%.

Punjab National Bank's floating home loan rate ranges from 7.50% to 9.35%, and its fixed rate from 8.50% to 11.85%, per BankBazaar's October 2026 listing. The processing fee is 0.35% of the loan, between ₹2,500 and ₹15,000. PNB's floating rate is linked to the repo rate, so it moves with RBI's decisions.

Public sector banks have the lowest home loan rates in India. Of the rates we confirmed on bank websites after RBI's 7 October 2026 hike, Canara Bank starts lowest at 7.45% (7.40% with extra concessions), followed by SBI at 7.50%. On BankBazaar's October list, Bank of Maharashtra (7.00%), Union Bank (7.15%), LIC Housing Finance (7.15%) and Bank of Baroda (7.20%) quote lower starting rates, but these may predate the hike.

The "lowest rate" is rarely the rate you get. Banks reserve it for borrowers with a CIBIL score above 800, a salaried income and, at some banks, a larger loan. Compare three things for your own profile:

A CIBIL score of 800 or more gets the lowest home loan rate at most banks; below 700, the rate climbs steeply and some banks decline the loan. SBI's whole 7.50%–8.80% range is set by CIBIL score, and its rate card states that "interest rate are based on CIBIL Score".

What the score band costs on ₹50 lakh for 20 years, using SBI's range:

The difference between SBI's best and worst score band is ₹4,066 a month, or ₹9.76 lakh over 20 years. Raising your score before you apply is usually the single biggest saving available: pay card bills in full, keep card use below 30% of the limit, and avoid new loan applications for three months before.

When RBI raises the repo rate, your floating home loan rate rises by the same amount at its next reset, and most banks keep your EMI the same and add months to your loan instead. RBI's rules say a repo-linked rate "shall be reset at least once in three months", so the 7 October 2026 hike reaches every repo-linked borrower by January 2027 at the latest.

Take a ₹50 lakh, 20-year loan at 7.25%, two years in (₹47.6 lakh outstanding), when the rate rises 0.25 points to 7.50%:

Paying ₹705 more a month saves about ₹1.8 lakh compared with letting the bank extend the loan. RBI's 2023 rules require your bank to let you choose: raise the EMI, extend the tenure, combine the two, prepay, or switch to a fixed rate at the reset. Ask for a higher EMI in writing if you can afford it.

If you took your home loan a few years ago, you may be paying a full point more than a new borrower at the same bank, because your spread over the benchmark was fixed when you borrowed. A repo cut or hike moves the benchmark, but not your spread.

Check your loan statement for the benchmark (EBLR, RLLR or repo) and the spread. If new borrowers with your score get a lower spread:

The gap is worth chasing. On ₹40 lakh outstanding with 15 years left, cutting the rate from 8.65% to 7.65% lowers the EMI by ₹2,320 a month, or ₹4.18 lakh over the remaining term. Every other way to cut your EMI is compared in How to Reduce Loan EMI.

For most borrowers in India, a floating rate is better, because fixed home loan rates cost 1–4 points more and floating loans carry no prepayment charge. SBI offers only repo-linked floating rates. Where banks do offer fixed rates, they are far higher: PNB's fixed rate starts at 8.50% against 7.50% floating, Bank of Baroda's at 8.90% against 7.20%, per BankBazaar's October 2026 listing.

A fixed rate makes sense only if a rise in EMI would genuinely strain your budget. Even after the October 2026 hike, rates would have to rise more than a full point before a typical fixed rate becomes cheaper. How the tenure affects total cost is covered in Best Tenure for Home Loan.

Some public sector banks charge women borrowers slightly less on home loans; Canara Bank, for example, charges them 0.05 points less at every grade. At Canara Bank, a woman's best rate is 7.40% to 7.50% depending on the loan size, against 7.45% to 7.55% for other borrowers.

The saving is modest: 0.05 points on ₹50 lakh for 20 years is ₹153 a month, or about ₹36,700 over the loan. Ask the bank whether the concession needs the woman to be the main applicant or a co-owner of the property. Several states also charge lower stamp duty when the property is registered in a woman's name, which often saves more than the rate concession.

On a ₹50 lakh home loan for 20 years, a rate 0.25 points lower saves ₹768 a month and about ₹1.84 lakh of interest over the loan.

Small differences are worth negotiating. A bank that waives a ₹10,000 processing fee but charges 0.10 points more costs you far more over 20 years.

The interest rate is the biggest cost, but not the only one. Before you sign, ask for each of these in writing:

The Key Fact Statement must show the annual percentage rate (APR), which includes the processing fee and other charges. Compare offers on APR, not on the headline rate. To check how much you can borrow first, use the Loan Eligibility Calculator.