Quick Answer: Which Home Loan Is Better HDFC Or SBI?

What is current HDFC home loan rate?

TruFixed Loan – 2 Year Fixed Rate VariantLoan SlabHome Loan Interest Rates (% p.a.)For Others* (upto 30 Lakhs)7.45 to 7.95For Women* (30.01 Lakhs to 75 Lakhs)7.55 to 8.05For Others* (30.01 Lakhs to 75 Lakhs)7.60 to 8.10For Women* (75.01 Lakhs & Above)7.65 to 8.153 more rows.

What is SBI Mortgage Loan?

Loan Amount: SBI gives you an amount ranging from ₹ 25 Lakh to ₹ 7.50 Cr. … Property Value: The value of the property to be mortgaged is used to calculate maximum loan eligibility based on the maximum permissible LTV ratio which can range upto 65% depending on the type of property.

What is the EMI for 30 lakhs home loan?

Banks which are offering 30 Lakh home loan amount at 8.00% rate of interest….Emi Calculated on 8.00%.Monthly Payment (EMI)Total Interest Payable in 20 yearsTotal Payment (Principal + Interest) after 20 years for 30 Lakh of loan amountRs.25093Rs.3022368Rs.6022368Jul 17, 2014

How can I reduce my SBI home loan interest?

It means by paying just Rs 5,900 you can save lakhs of rupees in interest. For example the outstanding amount on your home loan linked to base rate is Rs 10 lakh and the remaining tenure is 20 years. At present you are paying 8.20% interest. If you switch your loan to EBR then you can reduce home loan rate to 7.20%.

Which bank home loan is best?

Best Bank for Lowest Home Loan Interest RateCitibank banks are the best choice for home loans with their lowest interest on home loan starting from 6.75%.Axis bank, ICICI Bank, and Kotak Bank are the best banks for home loan as they have quick loan disbursal with low-interest rates.More items…

Will HDFC reduce home loan rate?

The mortgage lender Housing Development Finance Corporation (HDFC) on Friday announced to cut its retail prime lending rate (RPLR) by 20 basis points (bps) for existing customers, which in turn will reduce home loan rates for salaried customers till 7.65%.

What is SBI home loan rate?

SBI Home Loan Interest Rate starts from 6.95%. SBI charges a processing fees of Upto 0.20%, Minimum ₹ 4,000 and Maximum ₹ 17,400. … Lowest EMI per lakh on home Loan from SBI is ₹ 662 per lakh offered at the lowest interest rate of 6.95% at the longest loan tenure of 30 years.

What is current SBI home loan rate?

7.70%For First Five Years EBR 6.65%LOAN AMOUNTApplicable Interest RateUp to Rs 30 LacsEBR + 105 bps ER: 7.70%Above Rs 30 Lacs to Rs 75 LacsEBR + 115 bps ER: 7.80%Above Rs 75 LacEBR + 125 bps ER: 7.90%

Which bank is best for home loan HDFC or SBI?

Which is a better bank for Home Loan – SBI or HDFC?The lowest interest rate of SBI is lower than that of HDFC bank. … If you want to go for a higher loan amount, you should go for HDFC because its higher processing fee is lower than that of SBI.More items…•

Which is better SBI or HDFC?

Some of the key results of the comparison between the two banks are: Lowest Interest rate of SBI Personal Loan is 9.60%, which is lower than the lowest interest rate of HDFC Bank at 10.50%. Hence, SBI is offering a cheaper loan option. … HDFC Bank can be a better option if you are looking for a high value amount.

Which home loan is best in SBI?

SBI Home loan interest rate starts from 8.35%, which is one of the best rates available in the market….Interest Rate.Loan AmountSBI Home Loan FloatingRate for Female BorrowerUp to Rs. 30 Lakh8.40%8.35%Rs. 30 Lakh – 75 Lakh8.55%8.50%Above Rs. 75 Lakh8.65%8.60%Sep 9, 2020

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 16 Lakh₹ 14,159₹ 12,166₹ 20 Lakh₹ 17,698₹ 15,207₹ 25 Lakh₹ 22,123₹ 19,009₹ 30 Lakh₹ 26,547₹ 22,8111 more row

Is HDFC good for home loan?

HDFC offers lower Home Loan EMI at ₹ 659 on a Home Loan for 30 Years as compared to SBI with a minimum EMI of ₹ 662 for 30 Years. Average customer ratings for HDFC is currently at 4.5/5.0 which makes it a good choice for taking a Home Loan.

Who is the No 1 bank in India?

1 in India by Forbes; Surprise at No. 3; SBI not in top 10.

Is SBI good for home loan?

SBI MaxGain Home Loan: Though is not pushed aggressively by SBI but in my opinion MaxGain is one of the best Home Loan products. … In other banks, the interest rate for similar Home Loan product is slightly higher than regular Home Loan Interest Rate.

How can I check my SBI home loan eligibility?

SBI Smart Home Top Up Loan EligibilityResident Type: Resident Indian & NRI.Minimum Age: 18 years.Maximum Age: 70 years.CIBIL Score: 550 or above.Satisfactory repayment track record of 1 year or more, after completion of moratorium.No other Home Top-up or Insta Home Top-up loans should be active.

Which account is best in SBI?

SBI’s savings bank account A savings bank account is a basic account that safeguards customer’s money. SBI pays an interest rate of 3.5 per cent per annum on saving deposits balance up to Rs. 1 crore. Saving deposits balance above ₹ 1 crore pays 4 per cent per annum interest rates.

Which is the most trusted bank in India?

List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.