Home Loan Comparison
HDFC Home Loan vs SBI Home Loan vs Bank Of Baroda Home Loan vs RBL Bank Home Loan
Introduction
Buying a home is a major milestone, and finding the right loan is key. Let's explore what HDFC, SBI, Bank Of Baroda, and RBL Bank offer in terms of interest rates, loan terms, and special benefits. By comparing their features, you can make an informed decision that fits your financial situation.
Bank Highlights
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
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
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.
RBL Bank Home Loan
- Housing Loans of up to INR 15 Crores
- Attractive interest rates
- Tax benefits up to 3.5 lakhs*
- Flexibility Tailored for You.
- Easy top up loans in future.
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
HDFC vs SBI vs Bank Of Baroda vs RBL Bank Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When selecting a home loan among HDFC, SBI, Bank Of Baroda, and RBL Bank, it's essential to assess the interest rates. HDFC offers rates of 7.50% - 13.20%, making it attractive for lower monthly instalments. SBI provides rates of 7.50% - 8.700%, potentially yielding better long-term benefits. Meanwhile, Bank Of Baroda has rates of 7.45% - 9.20%, suitable for borrowers seeking flexibility. RBL Bank offers rates of 9.00%-11.00%, ideal for those prioritizing competitive initial rates.
Loan Tenure
HDFC extends loan tenures up to Max 30 Years, ideal for minimising monthly financial strain. SBI allows up to Max 30 Years, catering to those who prefer a balanced repayment period. Bank Of Baroda offers up to Max 30 Years, perfect for borrowers aiming for quicker loan settlement. RBL Bank provides loan tenures up to Max 30 years, offering additional flexibility for repayment plans.
Maximum Loan Amount
For maximum loan amounts, HDFC supports up to 6cr - 10cr, ideal for high-value property purchases. SBI caps at Upto 5cr, suitable for standard investments. Bank Of Baroda provides up to Upto 20cr, fitting for modest real estate ventures. RBL Bank offers loans up to Upto 15 Cr, accommodating a wide range of property values.
Processing Fees
Processing fees vary across banks. HDFC charges Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher, SBI imposes 0.35% of the loan amount, Bank Of Baroda requires NIL, and RBL Bank sets its fee at Up to 1.5% of the loan amount or up to Rs 15,000. It's crucial to factor these fees into your initial loan costs.
Conclusion
To make an informed decision that aligns with your financial goals, carefully consider these crucial factors—interest rates, eligibility criteria, loan tenure, maximum loan amount, and processing fees—of the home loan products from HDFC, SBI, Bank Of Baroda, and RBL Bank.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.