Good news for home loan customers! EMI will remain stable in June, from SBI to HDFC, know where is the cheapest loan?

Current Home Loan Rates: Buying your own house is the biggest dream of most people in India, to fulfill which a bank loan is very important. With rising property prices, it is difficult to own a home without financial assistance, so people always keep an eye on interest rates. The very good news for those taking home loans in June 2026 is that there will be no new increase in their EMIs. In its latest monetary policy review, RBI has given great relief to all the customers by maintaining the repo rate at 5.25 percent.

Due to this, at present there does not appear to be any new possibility of any additional financial burden on the EMI of home loan customers. Repo rate is actually the key rate at which RBI provides funds to commercial banks and this determines the loan rates. Whenever the repo rate increases, the cost of raising funds for banks increases which directly impacts the EMI of the common man. This time RBI has not made any change in the rates and has also maintained its policy stance completely neutral.

Loan options in government banks

There is a big relief for both existing and new borrowers as there seems to be little possibility of EMI increase in the near future. Talking about government banks, many banks are offering attractive home loans to customers at very competitive interest rates. Home loan rates of State Bank of India start from 7.25 percent and go up to 9.05 percent which are considered quite affordable. Bank of Baroda is also easily providing home loans to its customers at affordable rates between 7.20 percent to 9.25 percent.

The initial interest rate in both Central Bank of India and Bank of India has been fixed equally at 7.10 percent. Union Bank of India is giving home loan at 7.15 percent whereas in Canara Bank this initial interest rate is fixed at 7.25 percent. Indian Overseas Bank is providing home loan very easily at the rate of 7.10 percent especially to the employed customers. With the attractive offers of all these government banks, the common man’s big goal of buying a house can be achieved very easily.

Best offers from private banks

Along with government banks, there is a strong competition among major private sector banks regarding home loan rates. The initial attractive interest rate of home loan in ICICI Bank has been fixed at 7.50 percent for new customers, which is much better.

Kotak Mahindra Bank is offering home loan to customers at 7.60 percent which is considered very affordable and popular in the market. The starting rate of HDFC Bank, the country’s largest private bank, has been fixed at 7.75 percent, which will provide a lot of benefit to the customers.

Home loan interest rates at Axis Bank start from 8 percent and can easily go up to 11.90 percent depending on the customer’s profile. Financial experts clearly say that while choosing a home loan, customers should not rely only on low interest rate.

The longer tenure of the loan along with processing fees, pre-payment and foreclosure charges also impacts your total financial cost significantly. Sometimes a loan with a slightly higher interest rate may prove to be more beneficial and cheaper due to better features and lower additional charges.

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Credit Score and Other Terms

If you are planning to buy a house in the near future, then compare the interest rates of different banks properly. Always keep your credit score strong because customers with better CIBIL score can easily get home loan at lower interest rates.

There is a great atmosphere of stability and huge relief in the current home loan market after RBI kept the repo rate stable. People planning to buy a home have got a huge relief in taking their new decision without any financial worries.

Home loan interest rates may change from time to time and always depend on the customer’s profile and monthly income. These special rates depend on your credit score and the policies of the concerned bank, so take the right decision only after thinking carefully.

Before taking any important financial decision, visit the official branch or website of the concerned bank and check all the necessary information in detail. With the right information and good CIBIL score, you can buy your house very easily without any huge financial hassle.