New Delhi, Nov. 19 -- If you plan to buy a home in 2025, the home loan interest rate you lock in will decide how light or heavy your EMIs feel for years. This year has been kinder to borrowers: the Reserve Bank of India (RBI) cut the repo rate three times (February, April, and June), easing the cost of funds across the system and helping lenders pass through cheaper pricing to retail customers.

Below is a clear guide to how banks and NBFCs/HFCs differ, what that means for your home loan interest rate, and how a home loan for salaried persons compares with options for others.

RBI's norms cap typical LTVs around 90% for smaller tickets and lower caps for higher-value loans, influencing how much you can borrow and at what cost. Your lender...