India’s largest lender, State Bank of India (SBI), has revised its home loan interest rates effective from August 1, 2025. This move follows the Reserve Bank of India’s decision to maintain the repo rate at 5.55% in its August monetary policy review.
According to updated figures, SBI’s regular home loan interest rates now range between 7.50% and 8.70%. While the lower rate remains unchanged, the upper limit has increased by 25 basis points from the previous 8.45%, as per the Economic Times.
Comparatively, other major banks are offering the following:
HDFC Bank starts at 7.90% annually for home loans and related credit like renovation or extension loans.
ICICI Bank offers rates starting at 7.70%, with varying slabs for salaried and self-employed customers based on loan amounts.
Kotak Mahindra Bank offers rates from 7.99%, but existing customers switching to a fixed rate face a 12% rate.
Bank of Baroda and Punjab National Bank start at 7.45%, with rates influenced by loan size and credit score.
Canara Bank offers rates between 7.40% and 10.25%.
A rate hike means higher EMIs and total interest outgo, increasing the overall repayment burden for borrowers.
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