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As of October 7, 2026, Bank of Maharashtra and Central Bank of India had the lowest advertised starting rates in a comparison of 12 public-sector banks: 7.00% across all three loan-size slabs. These are published starting rates and ranges, not guaranteed personal offers. The rate you receive depends on your profile, credit history and loan details.
Home loan rates at 12 public-sector banks
The table below compares rates by loan amount. Mint published the comparison on October 10, 2026, using Paisabazaar data dated October 7, 2026. Treat the figures as a dated snapshot; lenders may change their rates, so confirm the current offer directly with the bank.
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| Bank | Up to ₹30 lakh | Above ₹30 lakh to ₹75 lakh | Above ₹75 lakh |
|---|---|---|---|
| Bank of Baroda | 7.20%–9.00% | 7.20%–9.00% | 7.20%–9.25% |
| Bank of India | 7.10%–10.00% | 7.10%–10.00% | 7.10%–10.25% |
| Bank of Maharashtra | 7.00%–9.90% | 7.00%–9.90% | 7.00%–9.90% |
| Canara Bank | 7.25%–10.00% | 7.25%–10.00% | 7.15%–9.90% |
| Central Bank of India | 7.00%–9.15% | 7.00%–9.15% | 7.00%–9.15% |
| Indian Bank | 7.15%–9.15% | 7.15%–9.15% | 7.15%–9.15% |
| Indian Overseas Bank | 7.20% onwards | 7.20% onwards | 7.20% onwards |
| Punjab and Sind Bank | 7.35%–10.75% | 7.35%–10.75% | 7.35%–10.75% |
| Punjab National Bank | 7.25%–9.25% | 7.25%–9.15% | 7.20%–9.15% |
| State Bank of India | 7.25%–8.55% | 7.25%–8.55% | 7.25%–8.55% |
| UCO Bank | 7.15%–9.25% | 7.15%–9.25% | 7.15%–9.25% |
| Union Bank of India | 7.15%–9.60% | 7.15%–9.60% | 7.15%–9.60% |
Source: Mint’s October 10, 2026 comparison, using Paisabazaar data dated October 7, 2026.
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How to compare the offers fairly
Start with the column matching your expected borrowing amount, then compare the full rate range rather than only its lowest figure. A 7.00% floor is not a promise that every eligible borrower—or any particular borrower—will receive that rate.
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- Request a personalized quote. Mint notes that the applicable rate can vary with the lender, borrower profile, credit score, borrowing history and loan amount. Ask each bank to price the same loan amount and borrower circumstances.
- Compare total borrowing cost. Include processing fees, tenure and overall interest cost, as well as any flexibility or penalties relevant to your loan. A lower starting rate alone does not establish which offer costs less over the life of the loan.
- Check concessions and their conditions. Mint reports a 5-basis-point Canara Bank concession for specified proposal types and salaried customers maintaining a salary account; a 0.05% UCO Bank concession for women borrowers and 0.10% for takeover loans; and a 0.05% Union Bank of India concession for borrowers opting for an insurance policy. These are conditional offers reported in the October comparison, not universal discounts. Confirm current eligibility and terms with the bank before relying on them.
- Keep the comparison dates visible. An earlier Business Standard comparison used Paisabazaar data dated September 16, 2026. It also showed 7.00% starting rates at Bank of Maharashtra and Central Bank of India, while some other rates differed from October’s snapshot. The September comparison is useful context, not a substitute for current quotes.
Why the October date matters
Economic Times reported that the Reserve Bank of India raised the repo rate from 5.25% to 5.50% on October 7, 2026. That dated report makes it especially important to check when a lender’s rate information was updated. It does not establish that every bank had repriced the rates in the October 7 comparison on that date.
For a separate official reference, State Bank of India’s loan-scheme interest-rate listing shows home loans from 7.25% per annum effective April 1, 2026. Its home-loan rate card is marked updated April 1, 2026. Those official figures corroborate SBI’s 7.25% floor in the October comparison, but are not an October rate-card update.
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- SPEAKS YOUR LANGUAGE: Keys clearly labeled in residential mortgage finance terms like Loan Amt, Int, Term, Pmt; this industry-standard calculator is super easy to use on all realty financing matters from finding a loan that works for your client to considering trust deeds investments, or finding remaining balances or balloon payments and more
- CONFIDENTLY AND EASILY SOLVE: Clients' financial questions whether they're buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions from PITI Payments to IRR, NPV and Cashflows
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: For your client at the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or TVM calculations find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: To your clients by reducing their confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket user's guide, long-life battery, 1-year warranty
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