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Home Loan Interest Rates Based on Different Credit Scores


  • Having a credit score of 750 and above? You’re in for a home loan at much lower rates
  • Check out home loan rates of different lenders based on your credit score

A good credit score of 750 and above heightens the possibility of getting a home loan at a lower rate of interest. And, with lower rates, you can save a lot on the interest outgo on a loan that can potentially run for as long as 20-30 years. Lenders have started pricing home loans based on the credit score of an individual. It depends on whose score – CIBIL, Experian, Equifax or CRIF HIGHMARK – does the lender choose to set your home loan interest rate. In this post, we have showcased credit score based interest rates of different lenders.

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LIC Housing Finance Home Loan Interest Rates Based on Credit Score (CIBIL)

Individuals with a credit score of greater than equal to 800 can get the loan at the lowest rate of 7.40%. You can check the table below to track the rates across different credit scores and loan amounts.

How Does Bank of Baroda Set Home Loan Rates Basis Your Credit Score?

Individuals having a credit score (CIBIL) of 726 and above are eligible to get the loan at the benchmark rate i.e. BRLLR of Bank of Baroda (BoB). Even the bank staff can access the loan at BRLLR, which presently stands at 7.25%. BoB home loan rates across different credit scores can be seen in the table below.

CIBIL ScoreInterest rate
726 and above7.25%
701 and above but less than 7267.50%
650 and above but less than 7018.25%
Less Than 6508.25%

How Much Does the Punjab National Bank Charge on a Home Loan?

With a credit score of 750 and above, you can access Punjab National Bank Home Loan at as low as 7.20% per annum. The table below shows the rates for individuals with different credit scores.

Loan Amount (In INR)Credit Score of 750 and AboveCredit Score of 700 and Upto 749Credit Score of Less Than 700
Upto 30 Lakh7.20%7.35%7.45%
Above 30 Lakh-75 Lakh7.35%7.60%7.70%
Above 75 Lakh7.35%7.70%7.80%

How Does the Bank of India Home Loan Interest Rate Fare Based on Credit Score?

If you’ve a credit score (CIBIL) of 760 and above, the Bank of India Home Loan interest rate can be as low as 7.25% per annum, which happens to be the benchmark rate of the bank. But for credit scores other than that, you need to look at the table below.

Union Bank of India Can Give You a Home Loan Below its Benchmark Rate!

The external benchmark rate of Union Bank of India is 7.20% with effect from April 1, 2020. But you can access the home loan upto INR 30 lakh at 7.10% if you have a credit score of 700 and above and the loan to value ratio is less than 75%. This is unique as most banks would either give the loan at the benchmark rate or after adding a spread over the same. For extensive details on the interest rates, you can glance at the table below.

Loan Quantum (In INR)Credit Score (CIBIL)Interest Rate (In Per Annum)
Upto 30 Lakh700 and above
Below 700
Above 30 Lakh-75 Lakh700 and above
Below 700
Above 75 Lakh700 and above
Below 700

Are SBI Home Loan Rates Based on Credit Scores?

Although the country’s largest lender State Bank of India (SBI) does not mention clearly the exact rate of interest you will get based on your credit score, its rates do factor in risk grading. The bank considers the credit score, income, repayment capability, credit exposure and several other elements as part of risk grading. So, with a good credit score and positive indicators on other elements, you give yourself the chance to access loans at a lower rate of interest. If you want to check out the rates, the below table is for you to look at!

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  • Home Loan Interest Rates July 2020
    Axis Bank7.75% - 8.55%
    Bank of Baroda6.85% - 7.85%
    HDFC6.95% - 8.00%
    ICICI Bank7.45% - 8.55%
    Indiabulls Housing Finance Limited8.80% - 11.05%
    Kotak Bank7.40% - 9.70%
    LIC Housing7.40% - 8.85%
    Piramal Capital & Housing Finance9.00% - 9.10%
    PNB Housing Finance8.60% - 9.45%
    Reliance Home Finance8.75% - 14.00%
    State Bank of India/SBI6.95% - 7.60%
    Tata Capital9.20% - 9.35%