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Which Home Loan Is Better SBI Home Loan Vs ICICI Home Loan?

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Home Loans
0 2024-02-16T09:10:15+00:00
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Hi, SBI and ICICI are two of the biggest banks in the country. When I was looking for a home loan, these are two that I considered. My cousin works at a bank and I asked him about the SBI home loan vs. ICICI home loan, which is better? 

ICICI vs SBI Home Loan Comparison: Which Should You Choose?

He provided me with a lot of information about the home loans of both these banks such as Interest rates, documents, processing fees, etc. To make it easier for you, I’ve arranged them in a tabular format.  
Factors SBI Home Loans ICICI Home Loans
Age 18-70 years 21-65 years
Maximum Amount Up to Rs. 15 crore Up to Rs. 5 crore
Tenure Up to 30 years Up to 30 years
Processing Fee 0.35% of the amount plus GST 0.50% – 1% of the amount plus GST
Interest Rate 8.40% - 10.05% 9.00% - 10.05%
Nationality  Indian (Resident) Indian (Resident)
Documents KYC, proof of income, property documents, bank statements, signed and filled out application form, processing fee cheque.  KYC, proof of income, property documents, bank statements, signed and filled out application form, processing fee cheque. 
According to him, if the CIBIL score of the borrower is 750+, the numbers mentioned here will remain the same. But if the score is below 750, the interest rates will be a bit higher than what has been mentioned in the SBI vs ICICI home loan table above.  I finally chose the SBI home loan as they have slightly less processing fee and a lower interest rate. Get Lowest Interest and Maximum Funding from ICICI Bank Via NoBroker Home Loans Read More What Are All Types Of Sbi Home Loan?

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