"Compare all bank home loan rates in India. Find best home loan rates and get your home loan at low interest rate easily. Read our blog to know more in detail."
Published: 14 July 2025
Updated: 14 July 2025
For many Indians, buying and owning a home is one of the biggest milestones in life. But let's face it, dealing with home loans often seems daunting. The huge EMIs standing out at the end of each month, the never-ending loan tenure that covers decades, and the paperwork! However, fret not! Here we bring you the solution to all your worries. You can avail the best instant home loan rates, save plenty on interest, and shift into your dream house sooner than expected.
Let’s break it down so that you can apply for home loan online with confidence and get the keys to your new place.
That tiny variation in your home loan interest rate can translate into a saving of lakhs down the line. For example, a 0.5% lower interest rate on a ₹50 lakh loan over 20 years can save you more than ₹3 lakh in total payments. That’s a significant amount of money you could use instead of furnishing your house, vacations, your child’s education, or an insurance plan.
|
Name of Lender |
Interest Rate (p.a.) |
|
HDFC Bank |
8.00% p.a. to 8.95% p.a. |
|
Axis Bank |
7.90% p.a. to 9.30% p.a. |
|
IDFC First Bank |
7.5% p.a. onwards |
|
Kotak Mahindra Bank |
9.5% p.a. onwards |
|
IIFL Finance |
11.50% p.a. to 25% p.a |
Home loan rates mentioned are indicative. The actual home loan interest rate may vary based on your credit score, monthly income, loan amount, and tenure.
The best home loan online is the one that fits your needs:
Ready to apply for an online home loan? Here's how to increase your chances of securing home loan at low interest rate:
A better credit score (750+) usually translates into a lower interest rate. You're perceived by lenders as less risk-prone, hence they grant you better terms.
Use online home loan comparison tools to compare home loan rates from several banks. Don’t just settle for the first offer you get. Every difference matters, no matter how small.
Longer tenure means less EMI amount, but you pay more interest overall. Shorter tenure means a higher EMI amount, but you pay less total interest. Choose whatever fits your budget.
Missing paperwork can delay your instant approval home loan. Keep ready digital copies for a hassle-free online home loan application process. The list of documents is shared below.
Many lenders now offer instant home loan approvals online. This means less waiting, less stress, and more time planning your move.
It is important that you know the basic eligibility requirements before you apply for home loan online. Lenders decide if you qualify based on several factors.
Both Resident Indians and Non-Resident Indians can apply for home loan online after fulfilling the eligibility criteria:
Awareness of these criteria prepares you well and increases the probability of instant approval home loan offers when you apply for home loan online.
Here is a convenient checklist for you to make sure you have all the necessary documents ready:
At My Mudra, we assist you:
Ready to turn your dream home into a reality? Begin your journey with My Mudra today.
Also Read:
- First Time Home Buyers Tips
- How to Calculate How Much Home Loan I Can Get in 2025
Ans: The home loan rates begin from as low as 8.5% p.a., subject to the lender and your credit report.
Ans: Yes. Most banks and platforms, such as My Mudra, allow you to apply for a home loan online in a few easy steps.
Ans: You’ll need identity proof, address proof, proof of age and income, property documents, and passport-size photos. Salaried and self-employed borrowers might require alternative proofs of income.
Ans: Instant approval home loan is available with some lenders if your documents are properly submitted and your credit rating is good.
Ans: It's more difficult, but you might just manage. You can try to raise your score, include a co-applicant, or pay a higher down payment to qualify for a home loan at low interest rate.
Ans: Prepayment penalties are usually not charged on floating-rate home loans by most banks. Fixed-rate loans can have penalties, so ensure that you don't have any hidden charges before signing.
Ans: Maximum up to 30 years, tenure varies based on the lender and your age at loan maturity.
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