Home Loan Interest Rates In April 2025: SBI, HDFC Bank, PNB, ICICI Bank And Others; Check Latest Rates
Since most Indian banks link their lending rates to the repo rate, a reduction directly lowers interest rates on floating-rate loans, thereby reducing your home loan EMIs.
The Reserve Bank of India's decision to cut the repo rate by 25 basis points to 6% earlier this month has led several banks to offer more affordable home loans.
Major public and private sector lenders have reduced interest rates, passing on the benefits to consumers.
On April 9, the RBI's monetary policy committee reduced the key lending rate after noting that retail inflation remains within the 4% target range, with March inflation expected to align with this goal. The repo rate is a key policy tool used by the central bank to manage inflation. Raising the repo rate helps curb demand and money supply by making borrowing costly.
Since most Indian banks link their lending rates to the repo rate, a reduction directly lowers interest rates on floating-rate loans. As a result, consumers can expect reduced EMIs on home loans and other retail credit products. Banks often revise interest rates on various loans with every repo rate variation.
Here's a look at the revision of home loan interest rates by major lenders after the RBI repo rate cut:
Following the RBI's decision, the country’s largest lender, SBI, slashed its interest rates by up to 0.25%. From April 15, SBI's home loan rates will start from 8.25% per annum, compared to 8.5% earlier.
The largest private sector lender, HDFC Bank, offers home loans at an interest rate starting at 8.7% per annum. As per the official website of the bank, the interest rates for home loans range between 8.7% and 9.55% per annum.
Leading private lender ICICI Bank is offering home loans at an interest rate starting at 9% to salaried and self-employed professionals with a CIBIL score of 800 or more.
The second largest public sector lender, PNB, has reduced its repo-linked lending rate to 8.65% from 8.9% earlier, following the RBI repo rate cut. The bank's home loan interest rates, for salaried and non-salaried borrowers with a credit score of at least 825, now range between 8.5% and 9.3%.
Meanwhile, Indian Bank’s home loan rate for general customers varies from 8.95% to 9.15%. Bank of India has also reduced its lending rates by 25 bps. This means that customers with a high credit score can now avail a home loan at an interest rate as low as 7.9% per annum.
As per the official website of Bank of Maharashtra, home loans can be secured at an interest rate as low as 7.85% per annum by eligible borrowers.
Private lender Axis Bank is offering a home loan at 8.75% per annum to salaried individuals with a CIBIL score of at least 751. The same for self-employed professionals starts at 9.1% per annum.
Home Loan Interest Rate Comparison
Disclaimer: To find the latest interest rate, you should check the "Interest Rates" section on the official websites of the banks you are interested in. Interest rates are subject to change without notice, and the rates provided are current as of a specific date.
