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Looking for the best home loan option in Chennai? Current tracked rates start around 8.7% for eligible borrowers, but final pricing depends on credit score, income, and property profile. Use this page to compare major lenders, estimate EMI instantly, and review local document requirements before applying.
Home loan tax benefits under Section 80C (principal) and Section 24(b) (interest) are available only if you opt for the Old Regime in Tax Year 2026-27. New Regime is the default.
Latest tracked home-loan rate refresh: 2026-04-01
Rate starts from
8.7%
Rate can go up to
9.5%
Avg city rate
₹5,500 - ₹13,000
Estimated property cost (1000 sqft)
₹92,50,000
Computed from average city range ₹5,500 - ₹13,000
Estimated loan amount (80% LTV)
₹74,00,000
Higher down payment can reduce both EMI and total interest
Estimated EMI (20 years)
₹65,159
At 8.7% p.a. with Indian Bank
Compare two loan options side by side
₹5,500 - ₹13,000
Per square foot in Chennai
CMDA
Approval alignment speeds up legal checks
Anna Nagar, OMR, Guindy
Useful while checking branch/legal facilitation availability
For Indian Bank file processing in Chennai, keep KYC, income, and property papers ready as per TNRERA and local authority requirements.
| Lender | Interest Range | Coverage |
|---|---|---|
| Indian Bank | 8.7% - 9.5% | Anna Nagar, OMR |
| SBI | 8.35% - 9.65% | City-wide |
| HDFC Bank | 8.4% - 9.9% | City-wide |
| ICICI Bank | 8.5% - 9.85% | City-wide |
| Bajaj Finserv | 8.5% - 12% | City-wide |
Interest rates are indicative only. Actual rate depends on credit score, LTV, income profile and bank policy.
Rates are indicative and vary by borrower profile, LTV, and lender policy.
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Disclaimer & Data Accuracy (2027)
Calculations are based on FY 2026-27 (AY 2027-28) tax laws and standard banking formulas. Fincado is an informational tool and does not constitute financial advice. Investment returns (SIP/Mutual Funds) are market-linked and not guaranteed. Please consult a Chartered Accountant (CA) or SEBI-registered advisor before making financial decisions.
Written and verified by ex-bankers, Chartered Accountants & RBI experts with 12+ years of experience. Every rate and fee is cross-checked against real borrower approvals and official lender disclosures.
Disclaimer: Fincado provides financial calculators and educational content for informational purposes only. We are not SEBI registered investment advisors. Always consult a certified financial planner before making any loan or investment decision.