Home loan interest rates play a crucial role in determining the total cost of your home loan. These rates can be either fixed or floating, depending on the lender’s offerings. A fixed rate remains constant throughout the loan tenure, ensuring predictable EMIs, while a floating rate changes based on market conditions and RBI policies.

Currently, home loan interest rates in India range between 8% to 10% per annum, influenced by your credit score, loan amount, repayment capacity, and chosen tenure. A good credit score (750 and above) can help you secure a lower rate.