The top 10 banks offering the lowest home loan interest rates

Since May 2022, RBI has increased key policy rates and along with that many banks have also raised their lending rates. It may sound horrifying to home loan borrowers who see the EMI soar high. But providing some relief to your tensions, BASIC home loan brings to you a list of banks that are offering home loans at low-interest rates. With the help of this list, you can contemplate applying for the loan you need to build your dream home. 

Here are the details of the top 10 banks in India offering the lowest home loan interest rate. 


Bank Name

Minimum interest rate (%)

Maximum interest rate (%)

Central bank of India

7.20

7.65

Bank of India

7.80

9.50

Bank of Maharashtra

7.80

9.20

Union Bank of India

7.90

9.60

Punjab and Sind bank

7.90

11.20

UCO Bank

7.90

8.10

Punjab National Bank

7.95

8.75

Bank of Baroda

7.95

9.30

Karnataka Bank

7.96

9.31

Kotak Mahindra Bank

7.99

8.50


Now you have all the necessary information on banks that are offering home loans at low-interest rates at aggregated at one place.



You may be wondering if borrowing a home loan also benefits you with taxation. Well yes, there are some advantages you can avail of when borrowing a home loan. Section 80C of the Income-tax Act of 1961 allows you to deduct up to Rs. 1.50 lacs from the principal amount of your home loan EMI. if it’s your first time buying a house, Section 80EE allows you to claim an extra deduction of up to Rs. 50,000. (terms and conditions apply). After using up the maximum amount allowed for the interest part under Section 24(b), you may then take advantage of this additional deduction.  


Please be aware that regardless of whether you intend to live there or rent it out, the amount of deduction you are eligible for under Section 24(b) would be limited to Rs. 30,000 if you have taken a loan for the purpose of reconstructing, repairing or renovating the property. 

To save yourself from all these technical hassles, visit the official website of BASIC home loan where all you need to do is to put your query and that’s it. All the procedures and following steps will be looked after by the team there and most importantly, you do not even have to visit the office as everything is done online only. Cut off the extra tedious work and let BASIC assist you in availing the best interest rates for home loan.
Location: Gurugram, Haryana, India

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