SHOWING RATE OF INTEREST (ROI) CHARGED BY PUBLIC SECTOR BANKS ON INDIVIDUAL HOME LOANS.
Sl.
No
|
Name of the Bank
|
As on January 10, 2013 (In %)
|
|
|
Minimum
|
Maximum
|
||
|
1.
|
Allahabad Bank
|
10.20
|
10.95*
|
|
2.
|
Andhra Bank
|
10.50
|
11.75
|
|
3.
|
Bank of Baroda
|
10.75
|
12.25
|
|
4.
|
Bank of India
|
10.50
|
10.75
|
|
5.
|
Bank of Maharashtra
|
10.50
|
12.25
|
|
6.
|
Central Bank of India
|
10.25
|
10.50
|
|
7.
|
Corporation Bank
|
10.50
|
11.00
|
|
8.
|
Canara Bank
|
10.50
|
10.75
|
|
9.
|
Dena Bank
|
10.45
|
11.75
|
|
10.
|
Indian Bank
|
10.50
|
12.00
|
|
11.
|
Oriental Bank of Commerce
|
10.40
|
11.00
|
|
12.
|
Punjab National Bank
|
10.50
|
11.25
|
|
13.
|
State Bank of India
|
10.00
|
10.15
|
|
14.
|
Vijaya Bank
|
10.25
|
11.25*
|
|
15.
|
Union Bank of India
|
10.50
|
13.25*
|
|
16.
|
IDBI
|
10.25
|
11.50*
|
|
17.
|
Indian Overseas Bank
|
10.25
|
11.25*
|
|
18.
|
Punjab and Sindh Bank
|
10.50
|
11.00
|
|
19.
|
State Bank of Bikaner & Jaipur
|
10.40
|
10.50
|
|
20.
|
State Bank of Hyderabad
|
10.25
|
10.25
|
|
21.
|
State Bank of Mysore
|
11.00
|
12.00
|
|
22.
|
State Bank of Patiala
|
10.50
|
12.75
|
|
23.
|
State Bank of Travancore
|
10.25
|
10.50
|
|
24.
|
Syndicate Bank
|
10.50
|
12.00
|
|
25.
|
UCO Bank
|
10.20
|
10.20*
|
|
26.
|
United Bank of India
|
10.70
|
11.00
|
* as on 19.02.2013.
Full details of Lok Sabha Unstarred question No. 61:-
UNSTARRED QUESTION NO 61
DIFFERENTIAL INTEREST RATES ON HOME LOANS
61 . Shri SHIVAJI ADHALRAO PATIL
ANANDRAO VITHOBA ADSUL
DHARMENDRA YADAV
BABAR GAJANAN DHARMSHI
Will the Minister of FINANCE be pleased to state:-
(a) whether the Government has taken note of different rates of interest on home loans being charged by various Scheduled Commercial Banks across the country;
(b) if so, the details of present rate of interest being charged on home loans by different banks, bank-wise;
(c) the reasons for variation in rates of interest offered by the public and private sector banks along with the rates and regulations framed by the Reserve Bank of India (RBI) in this regard;
(e) if so, the details thereof?
The Minister of State in the Ministry of Finance (Shri Namo Narain Meena)
(a): Yes. Interest rates on advances have been de-regulated by the Reserve Bank of India (RBI). The banks determined their actual lending rates on loans and advances with reference to their Base Rate and by including such other customer specific changes as considered appropriate.
(b): A statement is annexed. ** see above **
(c): As per the guidelines of RBI, Base Rate system has been introduced in the banks with effect from 01.07.2010 and all loans sanctioned/ disbursed on or after 01.07.2010 are linked to the Base Rate. Since Base Rate arrived at by banks is based on cost of funds and various other factors of respective banks, the Base Rate of individual banks varies. Since interest rates of housing loans are linked to the Base Rate, there is variation in interest rates offered by various banks.
(d)&(e): No, there is no such proposal.
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