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PSBs Tighten Home Loan Pricing to Protect NIMs
Financial Express Kochi
|August 21, 2025
Top public sector banks are increasing interest rates for new home loans, a move likely aimed at protecting their net interest margins (NIMs) at a time when deposit mobilisation has been difficult.
Last week, State Bank of India and Union Bank of India increased their home loan rates by 25 basis points (bps) and 10 bps, respectively.
SBI has increased the rate at the upper end—the rate at which weaker credit profiles are lent, while keeping the lower end unchanged at 7.40%. Union Bank of India's home loans will start from 7.45% (up to 10%). Other state lenders such as Canara Bank and Bank of India are expected to review their rates later this month.
Currently, Bank of India (BOI) provides a home loan at 7.35% for consumers with a CIBIL score of 840 and above, and at 10.10% for those with scores below 675. Canara Bank offers home loan rates for a loan amount up to ₹50 lakh, ranging from 7.55% to 10.25%.
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