Best Home Loans in India 2026
Home loans help you purchase, construct, or renovate residential property. These are secured loans with lower interest rates and longer tenures of up to 30 years, making homeownership affordable through manageable EMIs.
Top Home Loans (5 products)
Featured
SBI Home Loan
State Bank of India
★★★★★★4.6
- ✓Interest rate linked to EBLR (External Benchmark Lending Rate)
- ✓Zero prepayment and foreclosure charges on floating rate
- ✓Tenure up to 30 years
Featured
HDFC Home Loan
HDFC Bank
★★★★★★4.5
- ✓Quick 48-hour approval process
- ✓No prepayment charges on floating rate loans
- ✓Balance transfer from other lenders
ICICI Bank Home Loan
ICICI Bank
★★★★★★4.4
- ✓Digital application via iMobile app
- ✓Zero prepayment charges on floating rate
- ✓Balance transfer facility
LIC Housing Finance Home Loan
LIC Housing Finance
★★★★★4.2
- ✓Backed by LIC — India's most trusted financial brand
- ✓Zero prepayment charges on floating rate
- ✓Available for purchase, construction, renovation
Bank of Baroda Home Loan
Bank of Baroda
★★★★★4.1
- ✓One of the lowest home loan interest rates in India
- ✓Zero prepayment and foreclosure charges
- ✓Special reduced rates for women borrowers
Home Loan Comparison Table
Compare interest rates, fees, and features of all home loans side by side.
| Feature | Top Rated SBI Home LoanState Bank of India ★★★★★★ | HDFC Home LoanHDFC Bank ★★★★★★ | ICICI Bank Home LoanICICI Bank ★★★★★★ | LIC Housing Finance Home LoanLIC Housing Finance ★★★★★ | Bank of Baroda Home LoanBank of Baroda ★★★★★ |
|---|---|---|---|---|---|
| Min Interest Rate (%) | 8.5 | 8.75 | 8.75 | 8.5 | 8.4 |
| Max Interest Rate (%) | 10.65 | 9.65 | 10.1 | 10.55 | 10.65 |
| Processing Fee | 0.35% of loan amount (min Rs 2,000, max Rs 10,000) | Up to 0.50% of loan amount or Rs 3,000 (whichever is higher) | 0.50% of loan amount | Rs 10,000 to Rs 15,000 (varies by loan amount) | 0.25% to 0.50% of loan amount (min Rs 8,500) |
| EMI per Lakh | Rs 769 per lakh for 30 years at 8.50% | Rs 786 per lakh for 30 years at 8.75% | Rs 786 per lakh for 30 years at 8.75% | Rs 769 per lakh for 30 years at 8.50% | Rs 762 per lakh for 30 years at 8.40% |
| Max Loan Amount | 150000000 | 100000000 | 100000000 | 150000000 | 100000000 |
| Max Tenure | 30 | 30 | 30 | 30 | 30 |
| Prepayment Charges | Nil for floating rate home loans | Nil for individual borrowers on floating rate | Nil for individual borrowers on floating rate | Nil for floating rate home loans | Nil for individual floating rate borrowers |
| Disbursal Time | 7–15 working days after documentation | Approval within 48 hours, disbursal within 5–7 working days | 5–10 working days after document verification | 10–15 working days | 10–15 working days |
| Apply Now | Apply Now | Apply Now | Apply Now | Apply Now |
How to Apply for a Home Loan
1
Check your eligibility and get a pre-approved offer from your bank
2
Select the property and get a valuation done
3
Submit application with all required documents
4
Bank verifies documents and inspects the property
5
Receive sanction letter with loan terms
6
Sign the agreement and complete registration
7
Loan amount disbursed to the seller or builder
Home Loan Eligibility Criteria
- ✓Age: 18 to 70 years (at loan maturity)
- ✓Minimum monthly income: Rs 20,000 to Rs 30,000
- ✓CIBIL score: 700+ (higher scores get better rates)
- ✓Salaried, self-employed, or professional
- ✓Property must be approved by the lending institution
Documents Required for Home Loan
- 📄PAN Card and Aadhaar Card
- 📄Last 6 months salary slips (salaried) or 3 years ITR (self-employed)
- 📄Last 12 months bank statements
- 📄Property documents and title deeds
- 📄Builder agreement or sale deed
- 📄Form 16 or Employer certificate
- 📄Processing fee cheque
Home Loan FAQs
Bank of Baroda and SBI currently offer among the lowest home loan rates starting at 8.40% to 8.50% per annum. The actual rate depends on your loan amount, tenure, CIBIL score, and whether you opt for a floating or fixed rate.
Yes, some lenders like LIC Housing Finance offer home loans with CIBIL scores as low as 650. However, the interest rate will be higher. Improving your score to 750+ before applying can save you lakhs over the loan tenure.
Yes. Under Section 80C, you can claim up to Rs 1.5 lakh deduction on principal repayment. Under Section 24(b), you can claim up to Rs 2 lakh deduction on interest paid. For first-time buyers, an additional Rs 1.5 lakh is available under Section 80EEA.
Floating rate home loans are generally recommended as they have zero prepayment charges and rates adjust based on RBI policy. Fixed rates offer EMI certainty but are typically 1% to 2% higher and carry prepayment penalties.