Compare Interest Rates of Home Loan

If you compare home loans provided by other online services, you’ll find that CreditNation gets you the best deal available.

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Bank Salaried Self-Employed
Axis
Interest Rate:
Loan Amount Floating Interest Base Rate + Mark Up=EFOI Fixed Interest
Up to 28lakhs 9.50% + 0.10% = 9.60% 11.75% p.a.
Above 28Lakhs 9.50% + 0.15% = 9.65%
Top Up 9.50% + 2.25% = 11.75%
Interest Rate:
Loan Amount Floating Interest Base Rate + Mark Up=EFOI Fixed Interest
Up to 28lakhs 9.50% + 0.20% = 9.70% 11.75% p.a.
Above 28Lakhs 9.50% + 0.25% = 9.75%
Top Up 9.50% + 2.25% = 11.75%
Pre-payment charges Floating: NIL

Pre-payment charges Fixed: 2% of principal outstanding
Processing Fees: up to 1% of loan amount + service tax
Tata Capital
Interest Rate:
Loan Amount Floating Interest Fixed Interest
Any amount (online Customer) 9.70%  
Up to INR1.5Crs. 9.70% - 9.90%
Over INR 1.5 Crs. 9.70% - 10.00%
Interest Rate:
Loan Amount Floating Interest Fixed Interest
Any amount (online Customer) 9.80%  
Up to INR1.5Crs. 9.80% - 10.00%
Over INR 1.5 Crs. 9.90% - 10.25%
Pre-payment charges Floating: NIL

Pre-payment charges Fixed: 2% of principal outstanding
Processing Fees: up to 1% of loan amount + service tax
India Bulls
Interest Rate:
Loan Amount Floating Interest Loan Amount Fixed Interest
Up to INR 300 Lakhs 9.55% - 11.25% Up to INR 75 Lakhs 10.05% - 11.00%
More than INR 300 Lakhs 10.25% - 11.75% More than INR75 Lakh & up to INR150 Lakhs 10.20% - 11.20%
More than 150 Lakhs 10.50% - 12.00%
Pre-payment charges Floating: NIL
Processing Fees: up to 1% of loan amount + service tax
DHFL
Loan Amount Interest Rate
Up to 25Lakhs Above 25Lakhs to 75Lakhs Above 75Lakhs to 100Lakhs 9.90%
Above 100Lakhs to 150Lakhs 10.25%
Above 150Lakhs to 300Lakhs 10.50%
Above 300Lakhs 10.75%
Loan Amount Interest Rate
Up to 25Lakhs Above 25Lakhs to 75Lakhs Above 75Lakhs to 100Lakhs 10%
Above 100Lakhs to 150Lakhs Above 150Lakhs to 300Lakhs 11%
Above 300Lakhs 11.55%
Pre-payment charges Floating: NIL

Pre-payment charges Fixed: 2% of principal outstanding
Processing Fees: up to 2% of loan amount + service tax
Federal
Interest Rate
Loan Amount Floating Interest Fixed Rate(Base Rate)
Up to INR 75Lakhs 9.68% - 9.83% 9.63%
Above INR 75Lakhs 9.98% - 10.08%
Pre-payment charges: NIL
Processing Fees: up to 2.50% of loan amount + service tax
Aditya Birla
Loan Amount Interest Rate
Up to 10 Crore 10%
Loan Amount Interest Rate
Up to 10 Crore 10.5%
Pre-payment charges Floating: NIL Pre-payment charges Fixed: 2% of principal outstanding
Processing Fees: up to 1% of loan amount + service tax
Megma Fincorp
Loan Amount Interest Rate
Up to 10 Crore 10.15%
Loan Amount Interest Rate
Up to 10 Crore 10.5%
Pre-payment charges: up to 4% of principal outstanding
Processing Fees: up to 1% of loan amount + service tax
RAAS
Loan Amount Interest Rate
Up to 50Lakhs 10.00%
Loan Amount Interest Rate
Up to 50Lakhs 10.15%
Pre-payment charges: up to 4% of principal outstanding
Processing Fees: up to 2.% of loan amount + service tax
LIC
Loan Amount Interest Rate
Up to 15Crore 9.65%
Loan Amount Interest Rate
Up to 15Crore 9.90%
Pre-payment charges: -up to 2% from Balance Transfer’s side -NIL from own source
Processing Fees: 0.50% of loan amount + service tax
PNB
Interest Rate
Loan Amount Floating Interest (Base Interest) Fixed Interest (Base Rate + 0.50%)
Any Loan Amount 9.60% 9.60% + 0.50% = 10.10%
Pre-payment charges: up to 4% of principal outstanding
Processing Fees: up to 2.50% of loan amount + service tax

As you may already know there are various types of interest rates that banks play upon, and they have two ways in which these interest rates are calculated-

  • Flat rate of interest
  • Reducing rate of interest

The flat rate of interest also known as fixed rate of interest has a fixed interest rate based upon the initial principal amount. So, even if the overall principal amount is reduced over the years, you still pay a fixed interest till the very end.

However, in the Reducing rate of interest type, the interest is calculated on the pending principal amount. So, as the principal amount keeps reducing, the interest keeps reducing as well and you end up paying less.

Applying for a home loan is a huge investment, an agreement that usually lasts for a couple of years. It is not something one should overlook. And while there are many banks available such as Axis, Tata Capital, India Bulls, DHFL, Federal, Aditya Birla and many more, it can get quite confusing to figure out the best home loan rates. Home loan lenders use a simple method to calculate the principal and interest, however the interest rate calculation and other minor details can make a huge difference. So it’s advisable to compare home loan rates with CreditNation’s proficient team that makes the selection process very simple by providing you a detailed layout plan of what each bank has to offer based on your requirement, and also helping you understand what each clause stands for.

CreditNation Can Get Your Interest Rates as Low As 9.10%!

Whether you wish to opt for fixed or floating rates, or you want low EMI’s, or you wish for nil prepayment rates, we at CreditNation can get you the best home loan interest rates in India.

Other benefits that CreditNation brings to you are:

  • Multiple repayment options
  • Faster processing
  • Doorstep service
  • Flexi EMI’s
  • Higher home loan eligibility