Home Loan Comparison
SBI Home Loan vs ICICI Bank Home Loan vs IDFC First Bank Home Loan vs RBL Bank Home Loan
Introduction
Securing a home loan doesn't have to be daunting. We'll break down the offerings from SBI, ICICI Bank, IDFC First Bank, and RBL Bank, highlighting their rates, repayment options, and unique perks. This comparison will help you identify which bank aligns best with your home-buying goals.
Bank Highlights
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
ICICI Bank Home Loan
- Generous Loan Amount
- Flexible Tenure
- No Foreclosure Charges
- Minimal Documentation
- Instant Provisional Sanction
IDFC First Bank Home Loan
- Minimal documentation, tailor-made loans
- Up to 100% top-up at the same rate as balance transfers
- Enhanced eligibility for salaried & self-employed customers
- Digital process for availing loans up to ₹10 crore and tenure up to 30 years
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
SBI vs ICICI Bank vs IDFC First Bank vs RBL Bank Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When exploring home loan options from SBI, ICICI Bank, IDFC First Bank, and RBL Bank, it's important to compare their interest rates. SBI offers competitive rates of 8.00% - 9.70%, which can help reduce your monthly payments. ICICI Bank provides rates of 8.75% - 10.00%, potentially offering better savings over the loan period. IDFC First Bank presents rates of 8.85% - 14%, ideal for borrowers looking for adaptable financing solutions. RBL Bank offers rates of 9.00%-11.00%, which may provide the lowest initial costs.
Loan Tenure
SBI offers loan tenures extending up to Max 30 Years, perfect for those who prefer lower monthly obligations. ICICI Bank provides loan periods up to Max 30 Years, balancing repayment duration and financial flexibility. IDFC First Bank allows loan tenures up to Max 30 Years, suitable for borrowers aiming to repay their loan more quickly. RBL Bank extends tenures up to Max 30 years, catering to various repayment preferences.
Maximum Loan Amount
Regarding the maximum loan amount, SBI grants loans up to Upto 5cr, making it suitable for purchasing premium properties. ICICI Bank offers a ceiling of Upto 5cr, ideal for standard home investments. IDFC First Bank supports loans up to Upto 5 Cr, catering to more modest property acquisitions. RBL Bank provides up to Upto 15 Cr, accommodating diverse property values.
Processing Fees
Processing fees are an important consideration. SBI charges 0.35% of the loan amount, ICICI Bank levies 0.50% of the loan amount, IDFC First Bank imposes Up to 3% of loan amount, and RBL Bank requires Up to 1.5% of the loan amount or up to Rs 15,000. These fees should be included in your initial cost calculations when selecting the most cost-effective loan option.
Conclusion
For a choice that best suits your financial objectives, evaluate key aspects such as interest rates, eligibility requirements, loan terms, maximum loan limits, and processing fees offered by SBI, ICICI Bank, IDFC First Bank, and RBL Bank in their home loan products.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.