🏠 THESE 5 Banks Are Offering Home Loan Rates as Low as 7.35% – Is Your EMI Still High?
Published by Vizzve Finacr – India’s Trusted Financial Insights Engine
Looking to buy a new house or refinance your existing loan? July 2025 brings good news as several top Indian banks have slashed their home loan interest rates, with offers starting as low as 7.35% per annum.
This move comes in response to recent RBI monetary easing, rising demand in the housing sector, and growing competition among banks to attract salaried and self-employed borrowers.
🏦 Top 5 Banks Offering the Lowest Home Loan Rates (As of July 2025)
| Bank Name | Starting Interest Rate | Processing Fee | Loan Tenure |
|---|---|---|---|
| Union Bank of India | 7.35% p.a. | ₹5,000 or 0.5% | Up to 30 years |
| Bank of Baroda | 7.40% p.a. | Nil for online apps | Up to 30 years |
| State Bank of India | 7.45% p.a. | ₹10,000 max | Up to 30 years |
| Punjab National Bank | 7.50% p.a. | ₹5,000 flat | Up to 30 years |
| Canara Bank | 7.50% p.a. | 0.25% of loan amt | Up to 25 years |
💡 Why It Matters:
A small 0.5% difference in home loan rate can save you ₹5–7 lakh on a ₹50 lakh loan over 20 years.
With fixed and floating rate options, this is a great time to renegotiate your EMI or switch lenders.
Offers apply to both new home loans and balance transfers.
📉 Real-Life EMI Comparison:
Loan Amount: ₹40 lakh | Tenure: 20 years
| Interest Rate | Monthly EMI | Total Interest Payable |
|---|---|---|
| 7.35% | ₹32,007 | ₹36.82 lakh |
| 8.25% | ₹34,123 | ₹42.89 lakh |
That’s a difference of ₹2,116/month or ₹6.07 lakh in lifetime interest!
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❓ Frequently Asked Questions (FAQ)
Q1. Which bank is offering the lowest home loan interest rate in July 2025?
A: Union Bank of India currently offers the lowest rate at 7.35% p.a. for eligible applicants.
Q2. Can I transfer my existing loan to a lower-rate bank?
A: Yes, most banks allow home loan balance transfer if you meet credit and tenure conditions.
Q3. Do these rates apply to under-construction property loans too?
A: Yes, but disbursal and eligibility criteria may differ. Always check terms with the lender.
Q4. Are these rates fixed or floating?
A: Most offers are on floating rates, which are linked to the external benchmark (like RBI repo rate).
Q5. Where can I compare EMI options across banks?
A: Visit www.vizzvefinacr.com to use our real-time EMI calculator and compare top lenders.
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Reported by Benny on June 30, 2025.
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