Home Loan Comparison
Bank Of Baroda Home Loan vs SBI Home Loan vs HDFC Home Loan
Introduction
Selecting a home loan is a significant step towards owning your dream home. We'll compare offerings from Bank Of Baroda, SBI, and HDFC to help you out. They all support both salaried and self-employed applicants and various property types. Your personal needs will determine the best fit. Let's explore their features together.
Bank Highlights
Bank Of Baroda Home Loan
- Max savings under Baroda Max Savings Home loan.
- Concession for Women Borrowers- 0.05%
- Nil Processing fee
- Easy Takeover without income documents.
SBI Home Loan
- Low Processing charges. No hidden costs.
- No Prepayment penalties
- Home loan also available as an overdraft.
- Interest Calculation on Daily Reducing Balance
- Wide Product Range
HDFC Home Loan
- Great Customer Service
- Process is Simple and Online
- Certain Restrictions on Online Prepayments
- Competitive Interest Rates
- Multi Branch Banking
- Non Salaried Cases Take Time
Disclaimer
The interest rates, maximum tenures, and other charges are subject to change, and it's advisable to check with our experts for the most current information.
Home Loan Calculations
Bank Of Baroda vs SBI vs HDFC Calculations
Calculator
Home Loan EMI Calculator
WhatsApp UsLoan Amount
₹ 0
Interest Amount
₹ 0
Total Payable
₹ 0
Monthly EMI
₹ 0
Your Amortization details(Yearly/Monthly)
Feature Comparison
Rate of Interest
When evaluating home loans from Bank Of Baroda, SBI, and HDFC, interest rates are a key consideration. Bank Of Baroda offers rates of 8.15% - 10.90%, potentially lowering your monthly repayments. SBI provides rates of 8.50% - 9.70%, which could lead to greater savings over the life of the loan. HDFC presents rates of 8.75% - 9.65%, possibly offering the most favourable terms for your needs.
Loan Tenure
Loan tenure impacts the repayment timeline. Bank Of Baroda offers a tenure of up to Max 30 Years, perfect for those preferring extended periods to ease monthly payments. SBI provides a tenure of Max 30 Years, ideal for borrowers aiming to repay their loan sooner. HDFC allows for a maximum tenure of Max 30 Years, offering flexibility based on your financial plans.
Maximum Loan Amount
The maximum loan amount determines the value of the property you can purchase. Bank Of Baroda provides loans up to Upto 20cr, suitable for luxury properties. SBI offers a maximum of Upto 5cr, aligning with moderate investment properties. HDFC approves loans up to 6cr - 10cr, catering to a diverse range of property values.
Processing Fees
Processing fees can affect your overall loan cost. Bank Of Baroda charges a fee of NIL, which should be considered in your initial budget. SBI imposes a processing fee of 0.35% of the loan amount, impacting your upfront expenses. HDFC sets its fee at Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher, potentially making it a cost-effective option depending on the loan amount.
Conclusion
Selecting the right home loan is crucial for your financial future. By comparing the interest rates, eligibility criteria, loan tenures, maximum loan amounts, and processing fees offered by Bank Of Baroda, SBI, and HDFC, you can choose the option that best fits your needs and helps you achieve your homeownership goals.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.