Current Bank Interest Rates

Current Bank Interest rates market for Mortgage Loan in India

Mortgage Loans, which are availed at the pledge of the property as the collateral, are one of the most sought after loans for the people in India. Currently, almost all banks in India offer the Mortgage loans. The difference among these banks is the interest rates, which vary depending upon the banks. The process of the approval of such loans almost same for all banks in the country, the reputation of banks and interest rates are the prime factors, which plays a role in the deciding factor in the choice of banks.

Current bank Interest rates for Mortgage Loans

With almost all banks involved in the mortgage loans, the interest rates vary. The interest rates mentioned are also liable to change with no prior notice. At the time of writing, what we have collected through various sources; the interest rates of mortgage Loans in India for various banks are mentioned as below. It must always be in mind that the interest rates vary very nominally, but when you consider the long term difference in the payment of the interest amount, the difference can be felt.

Punjab National Bank : The interest rate on Mortgage Loans is currently 10% up to 75 lacs and 10.25% floating above it.

UCO Bank: The interest rate on Mortgage Loans is currently 9.95% up to 75 lacs

Union Bank of India : The interest rate on Mortgage Loans is currently 10% up to 5 Crores and 10.75% floating above it.

United Bank of India :The interest rate on Mortgage Loans is currently 9.9% up to 75 lacs and 10.15% floating above it.

State Bank of India : The interest rate on Mortgage Loans is currently 9.75% up to 75 lacs and 9.75% floating above it.

Oriental Bank of Commerce : The interest rate on Mortgage Loans is currently 10% up to 75 lacs and 10% floating above it.

IDBI : The interest rate on Mortgage Loans is currently 10% up to 25 lacs and 10% floating above it.

ICICI Bank :The interest rate on Mortgage Loans is currently 9.8%  to 9.9% up to 75  lacs  and 9.9% floating above it, while above 5 Crore, its 10% floating.

HDFC Bank : The interest rate on Mortgage Loans is currently 9.85% to 10.4% up to 75 lacs and 9.85% to 10.4% floating above it.

Corporation Bank : The interest rate on Mortgage Loans is currently 10% up to 2 crores and 10.25% floating above it.

Allahabad Bank : The interest rate on Mortgage Loans is currently 9.95 up to 3 crores and 10.2% floating above it.

Axis Bank : The interest rate on Mortgage Loans is currently 10% up to 75 lacs and 10.25% floating above it.

Bank of Baroda : The interest rate on Mortgage Loans is currently 10% up to 75 lacs and 10% floating above it.

Bank of India : The interest rate on Mortgage Loans is currently 9.95% up to 75 lacs and 10.2% floating above it.

The above mentioned rates of Interest are sorted in the best possible way and any change in the actual rate of interest may happen in actual!

Mortgage July 22nd, 2015

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