Lowest Loan Interest Rates

Current Interest Rates
Loan Type Lowest Rates
Home Loan 10%
Personal Loan 10%
Business Loan 10%
Business Against Property 10%

Home loan, including all applicable fees

  • Here is an illustration of the total cost of the loan:
  • Total amount borrowed: Rs. 100,000
  • Time period: 12 months to 60 months
  • Interest Rate: 10.99% to 22%
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From Rs. 2,174 for a months Rs. 100,000 loan at 10.99% (lowest rate, longest time period) to Rs. 9,359 for a 12 months Rs. 100,000 loan at 22% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 11.39% to 22.4%
  • Total cost payable over loan tenure: Rs. 14,313 for 12 months loan to Rs. 32,424 for 60 months loan

Home Loan Interest Rates Comparison in India

Current Interest Rates
Bank Home Loan Rate Processing Fee
HDFC Home Loan 8.80% 0.50%
Min Rs. 3,000 - Max Rs. 10,000
ICICI Bank Home Loan 8.80% 0.50%
Min Rs. 5,000 - Max Rs. 5,000
Axis Bank 8.80% 0.50%
Min Rs. 10,000 - Max Rs. 25,000
Citibank 8.75% Nil
Yes Bank 9.35% 0.75%
Max Rs. 10,000
IDBI Bank 8.60% 0.50%
Min Rs. 2,500
Kotak Bank 8.90% Max Rs. 10,000

Quick Guide on Home Loan

Purpose :Home loan can be used for purchasing a new house, construction of house on a plot, home improvement, extension and renovation of your existing house.

  • Eligibility : Loan available for both salaried and self-employed borrowers within the age group of 18 and 70 years.
  • Security :Mortgage of home you are planning to purchase, renovate or construct.
  • Loan Amount :In the range of Rs. 1 Lakh to Rs. 15 Cr.
  • Loan to Property Value Ratio :Varies from 65% to 90%.
  • Loan Tenure :Can range from 5 to 30 years.
  • Interest rates :Home loan Interest Rates starting from 8.55%. Special rates for women borrowers.
  • Lowest EMI :Lowest EMI of Rs. 772 per lakh.
  • Processing Fees : Up to 1% of loan amount or Maximum Rs. 10,000.
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