Home loan rates in June: From SBI to ICICI Bank, check latest interest rates for best deals

Buying a home remains one of the biggest financial milestones, and securing a home loan at a competitive interest rate can significantly reduce the overall cost of ownership. On June 5, the Reserve Bank of India (RBI) decided to keep the repo rate unchanged which means homebuyers need not worry about an increase in their monthly EMIs.

Repo rate is the rate at which the RBI lends money to banks.

RBI Governor Sanjay Malhotra announced that the Monetary Policy Committee (MPC) will remain 5.25% while maintaining its policy stance as ‘neutral’. The central bank said the decision was driven by heightened inflation risks stemming from ongoing geopolitical tensions.

Several banks and financial institutions are offering home loans, providing borrowers with attractive financing options. Here’s a list of home loan rates being offered by various financial institutions:

Latest home loan interest ratesState Bank of India: The largest public lender offers home loans at an annual interest rate of 7.25% to 9.05%.

Bank of Baroda: Home loans currently start from 7.20% to 9.25%.per annum in Bank of Baroda.

Union Bank of India: The interest rate ranges from 7.15%. to 9.6%.

Central Bank of India: For the Central Bank of India, the interest rate ranges from 7.10%. to 9.15%. per annum.

Canara Bank: The lender currently charges interest rates ranging from 7.25%. to 10%. per annum for home loans.

Bank of India: The interest rate ranges from 7.10%. to 10.25%..

Indian Overseas Bank: The interest rates start from 7.10%. for salaried and 8.20 for non-salaried.

ICICI Bank: This bank offers an interest rate starting from 7.5%. onwards on home loans.

Axis Bank: The home loan interest rate at Axis Bank starts from 8% onwards to 11.9%.

Kotak Mahindra Bank: The home loan interest rate starts from 7.60%. onwards.

HDFC Bank: In case of HDFC, the home loan interest begins from 7.75%. onwards.