Home loan interest rates in 2026 range from 8.35%–9.5% p.a. SBI offers from 8.5%, HDFC Bank from 8.75%, ICICI Bank from 8.75%, and Kotak Mahindra from 8.75%. Rates depend on your CIBIL score, income, loan amount, and tenure. A CIBIL score above 750 typically gets you the best rates.

As a rule of thumb, banks offer home loans of 55–65 times your monthly take-home salary. For example, a monthly salary of ₹50,000 can get you a loan of ₹27–32 lakh. Your EMI should not exceed 40–50% of your monthly income. Factors like existing loans, CIBIL score, and age also affect eligibility.

Most banks offer home loans for up to 30 years. The maximum age at the end of the loan tenure is typically 70–75 years. Longer tenure reduces your monthly EMI but increases total interest paid. A 20-year vs 30-year loan on ₹50 lakh at 8.5% means ₹43,391/month vs ₹38,446/month EMI.

Home loan borrowers get: (1) Section 24(b): Deduction up to ₹2 lakh/year on interest paid (for self-occupied property, Old regime only), (2) Section 80C: Deduction up to ₹1.5 lakh/year on principal repayment, (3) Section 80EEA: Additional ₹1.5 lakh interest deduction for first-time buyers (affordable housing). These are only under the Old tax regime.

Fixed rate remains constant throughout the tenure regardless of market changes — predictable EMI but usually higher rate (8.9–10%). Floating rate changes with RBI repo rate changes — currently lower but EMI can increase. Most borrowers in India prefer floating rates for long-term home loans as they benefit when rates fall.