According to Ambak, home loan interest rates in India start at 7.40% p.a. in November 2026 for prime salaried borrowers with a CIBIL score of 800 and above. Following the Reserve Bank of India (RBI) Monetary Policy Committee's 25 basis points repo rate hike from 5.25% to 5.50% on 7 October 2026 (its first rate hike since February 2023, with a "calibrated tightening" stance), every major public sector bank, private bank, and Housing Finance Company (HFC) revised its external benchmark lending rate between 8 October and 23 October 2026. Public sector lenders — led by Union Bank of India, Bank of Baroda, and Canara Bank at 7.40% p.a., PNB and Central Bank of India at 7.45% p.a., and State Bank of India (SBI) at 7.50% p.a. — currently price 50 to 135 bps below major private banks. Last verified against official bank rate pages: 10 November 2026.
All-Banks Home Loan Interest Rate Tracker — November 2026 Official Rate Card
The table below tracks verified starting and maximum floating interest rates, repo-linked external benchmarks (EBLR / RLLR / BRLLR), processing fees, and effective revision dates across 15 leading Indian lenders in November 2026:
| Bank / HFC | Starting Rate (p.a.) | Full Rate Range (p.a.) | External Benchmark (Nov 2026) | Processing Fee | Effective Date |
|---|---|---|---|---|---|
| Bank of Baroda | 7.40% | 7.40% – 9.15% | BRLLR 8.15% | Nil on select offers / up to 0.50% | 8 Oct 2026 |
| Canara Bank | 7.40% | 7.40% – 10.25% | RLLR 8.25% | 0.50% (₹1,500 – ₹10,000) | 9 Oct 2026 |
| Union Bank of India | 7.40% | 7.40% – 9.60% | EBLR 8.25% | Up to 0.50% (max ₹15,000 + GST) | 8 Oct 2026 |
| Punjab National Bank (PNB) | 7.45% | 7.45% – 9.35% | RLLR 8.35% | Up to 0.35% (₹2,500 – ₹15,000) | 8 Oct 2026 |
| Central Bank of India | 7.45% | 7.45% – 9.00% | RBLR 8.50% | 0.50% (max ₹20,000 + GST) | 8 Oct 2026 |
| State Bank of India (SBI) | 7.50% | 7.50% – 8.70% | EBLR 8.15% (RLLR 7.75%) | 0.35% (₹2,000 – ₹10,000 + GST) | 15 Oct 2026 |
| Bajaj Housing Finance | 7.50% | 7.50% – 15.00% | BHFL FRR (Up to 40-Yr Tenure) | ₹1,999 + GST (instant digital sanction) | 23 Oct 2026 |
| Bank of India | 7.50% | 7.50% – 9.85% | RBLR 8.35% | 0.25% – 0.50% of loan amount | 10 Oct 2026 |
| Indian Bank | 7.50% | 7.50% – 9.40% | EBLR 8.20% | 0.23% – 0.50% (max ₹20,000) | 10 Oct 2026 |
| UCO Bank | 7.50% | 7.50% – 9.35% | UCO Float Rate | 0.50% (₹1,500 – ₹15,000) | 10 Oct 2026 |
| LIC Housing Finance | 7.50% | 7.50% – 10.75% | LHPLR Linked | ₹3,000 – ₹15,000 + GST | Oct 2026 |
| Kotak Mahindra Bank | 7.60% | 7.60% – 9.00% | Repo Linked (5.50%) | 0.50% – 1.00% + GST | 10 Oct 2026 |
| HDFC Bank | 8.00% | 8.00% – 13.45% | Repo 5.50% + 2.50%–7.95% | Up to 0.50% or ₹4,000 + GST | 10 Oct 2026 |
| Axis Bank | 8.00% | 8.00% – 9.10% | Repo 5.50% + Spread | Up to 1.00% or ₹10,000 + GST | 10 Oct 2026 |
| ICICI Bank | 8.75% | 8.75% – 10.05% | I-EBLR (Repo Linked) | 0.50% – 2.00% + taxes | 10 Oct 2026 |
What Changed Between September and November 2026? (Repo Hike Change Log)
After cutting the policy repo rate by a cumulative 125 basis points during 2025 down to 5.25%, the Reserve Bank of India (RBI) raised the repo rate by 25 bps to 5.50% on 7 October 2026 (Standing Deposit Facility at 5.25%; Marginal Standing Facility at 5.75%). Because all retail floating-rate bank home loans issued since October 2019 are linked to an external benchmark (primarily the RBI repo rate), banks transmitted the 25 bps hike directly into their lending benchmarks:
| Bank / HFC | Sep 2026 Starting Rate | Nov 2026 Starting Rate | Rate Change (bps) | ₹50 Lakh / 20-Yr EMI Change |
|---|---|---|---|---|
| Bank of Baroda | 7.15% p.a. | 7.40% p.a. | +25 bps | ₹39,216 → ₹39,974 (+₹754/mo) |
| Canara Bank | 7.15% p.a. | 7.40% p.a. | +25 bps | ₹39,216 → ₹39,974 (+₹754/mo) |
| Union Bank of India | 7.15% p.a. | 7.40% p.a. | +25 bps | ₹39,216 → ₹39,974 (+₹754/mo) |
| Punjab National Bank | 7.20% p.a. | 7.45% p.a. | +25 bps | ₹39,367 → ₹40,127 (+₹756/mo) |
| State Bank of India (SBI) | 7.25% p.a. | 7.50% p.a. | +25 bps | ₹39,519 → ₹40,280 (+₹759/mo) |
| Bajaj Housing Finance | 7.35% p.a. | 7.50% p.a. | +15 bps | ₹39,822 → ₹40,280 (+₹456/mo) |
| HDFC Bank | 7.75% p.a. | 8.00% p.a. | +25 bps | ₹41,047 → ₹41,822 (+₹775/mo) |
CIBIL Score Rate Slabs Across PSU and Private Banks (November 2026)
Headline starting rates of 7.40%–7.50% apply strictly to applicants in the highest credit tier (CIBIL 800+ at Union Bank and PNB; 750+ at BoB, Canara, SBI, and Bajaj Housing). Here is the exact rate-by-CIBIL matrix across lender categories in November 2026:
| CIBIL Score Slab | PSU Banks (BoB, Canara, Union, PNB, SBI) | Prime HFCs & Private Banks (Bajaj, Kotak, HDFC, Axis) | ₹50L / 20-Yr EMI (PSU Mid-Point) | 20-Year Interest Difference |
|---|---|---|---|---|
| 800 – 900 | 7.40% – 7.50% p.a. | 7.50% – 8.00% p.a. | ₹39,974 | Lowest Base Slab |
| 750 – 799 | 7.50% – 7.65% p.a. | 7.65% – 8.15% p.a. | ₹40,433 | +₹1.10 Lakh over 20 years |
| 700 – 749 | 7.85% – 8.15% p.a. | 8.20% – 8.85% p.a. | ₹41,822 | +₹4.43 Lakh over 20 years |
| 650 – 699 | 8.35% – 9.15% p.a. | 9.00% – 11.50% p.a. | ₹44,186 | +₹10.15 Lakh over 20 years |
Frequently Asked Questions — Home Loan Interest Rates (November 2026)
1. Which bank has the lowest home loan interest rate in November 2026?
In November 2026, Union Bank of India, Bank of Baroda, and Canara Bank offer the lowest starting home loan interest rate at 7.40% p.a., followed by PNB and Central Bank of India at 7.45% p.a., and State Bank of India (SBI) and Bajaj Housing Finance at 7.50% p.a. Compare live sanctions on the Ambak All-Banks Interest Rates page.
2. Will home loan EMIs increase after the October 2026 RBI repo rate hike?
Yes. Following the 25 bps RBI repo rate hike to 5.50% on 7 October 2026, existing floating-rate borrowers will see either their remaining loan tenure extend by 8 to 18 months or their monthly EMI increase by roughly ₹15 per ₹1 lakh borrowed on their bank's quarterly reset date. You can offset the entire hike by making a single 3%–5% part-prepayment using the Ambak Home Loan Prepayment Calculator.
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