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Property Loan Interest Rates 2024 by Top Banks

Updated on July 10, 2024 , 5527 views

Whether you wish to construct a property or buy a new one, property loan is something that can always turn out to be helpful in the times of need. Not just that, but you can also put your property as mortgage and get a loan against it for your business needs.

Property Loan Interest Rates

However, different banks offer varying interest rates on their property loans. Thus, it is always recommended to stay up-to-date with these numbers. In this post, you can find out property loan interest rates from major banks.

Interest Rates on Property Loan by Top Banks

1. ICICI Loan Against Property

This specific loan against property by ICICI can be availed to fulfil both personal and business requirements. With a tenure up to 15 years, ICICI accepts both residential and commercial properties as a mortgage. Furthermore, the Bank ensures that you get up to 70% of the entire property value. As far as the interest rates are concerned, they vary according to several factors.

Here is an idea of the interest rate for housing loan:

Amount Priority Sector Lending Non-Priority Sector Lending
Up to Rs. 50 lakhs 9% 9.10%
Rs. 50 lakhs to Rs. 1 crore 8.95% 9.05%
More than Rs. 1 crore 8.90% 9%

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2. SBI Property Loan

SBI Property Loan is one of the considerable loans for the middle-class group. Even if you have a minimum Income of Rs. 12,000 a month, you will be eligible to take this loan. With a loan margin of up to 60%, you can get an amount as much as Rs. 1 crore. While the repayment tenure is up to 10 years, you may also have to pay 1% of the loan amount as processing fee.

Lastly, the Home Loan from SBI interest rate for this loan is 8.45% - 9.50%, depending upon several assessment factors.

For Salaried Applicants Interest Rates
Up to Rs. 1 crore 8.45%
More than Rs. 1 crore and up to Rs. 2 crores 9.10%
More than Rs. 2 crores and up to Rs. 7.50 crores 9.50%
For Self-Employed Applicants Interest Rates
Up to Rs. 1 crore 9.10%
More than Rs. 1 crore and up to Rs. 2 crores 9.60%
More than Rs. 2 crores and up to Rs. 7.50 crores 10.00%

3. PNB Housing Loan

Another one that you can think of getting is a home loan from Punjab and National Bank. This specific loan can be used for a variety of purposes, and PNB has a certain loan for every need. Here, you can find:

  • Home purchase loan
  • Home construction loan
  • Home extension loan
  • Home improvement loan
  • Residential Plot Loan
  • Loan for NRIs
  • Unnati home loans
  • Pradhan mantri aawas yojana

Furthermore, you can also expect customized solutions as per your requirements. As far as the PNB housing loan interest rate is concerned, here is an idea of the same:

Credit Score Self-Employed Self-Employed Professionals Salaried
Less than zero 9.45% – 9.95% 9.25% - 9.75% 9.25% - 9.75%
Up to 650 9.45% - 9.95% 9.25% - 9.75% 9.25% - 9.75%
>650 to <700 9.15% - 9.65% 8.85% - 9.45% 8.85% - 9.45%
>700 to <750 9.05% - 9.55% 8.85% - 9.35% 8.85% - 9.35%
>750 to <800 8.95% - 9.45% 8.75% - 9.25% 8.75% - 9.25%
>=800 8.85% - 9.35% 8.60% - 9.10 8.60% - 9.10

4. Canara Bank Housing Loan

Canara Bank has had a consistent reputation in terms of its integrity and transparency. With its housing loan, you can easily purchase or construct a home/Flat, as well as buy a site and construct upon it. Not just that, but this loan is even appropriate for renovating or extending the already built house.

The Canara bank housing loan interest rate is as follow:

Risk Grade Women Borrowers Other Borrowers
1 6.90% 6.95%
2 6.95% 7.00%
3 7.35% 7.40%
4 8.85% 8.90%


Taking a house loan has become quite easier in recent times. While you can further dig into interest rates on property loans provided by top banks, however, keep in mind that these rates are subject to change accordingly. Thus, don’t forget to compare interest rates and take up the best offer as soon as you get it.

All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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