When I was planning to buy an apartment, I thought of getting a home loan. SBI and HDFC bank house loans were the two most popular options available to me. I understand that you are finding it challenging to choose from the wide selection of home loan products and low-interest rates. So to settle your confusion regarding SBI Vs HDFC home loan which is better, I've presented a comparison between both. Please keep reading and let me know what your final decision is.
SBI home loan Vs HDFC home loan:The question of SBI or HDFC which is better for home loan, depends on your personal preferences. But here is a table to assist you in making your decision
| Category | SBI Home Loan | HDFC Bank Home Loan |
Purpose |
Both salaried and self-employed candidates can apply for SBI home loans to buy a home that is already built or is under construction. |
Home loans are available to both salaried and self-employed employees to purchase or build a home. They offer tailored loans for farmers, agriculturists, etc. |
Loan Amount |
Rs.5 lakh – Rs.10 crore |
Up to Rs 10 crores |
Rate of Interest |
8.50 % onwards |
8.50 - 9.00 % |
Loan Tenure |
Up to 30 years |
Up to 30 years |
Eligibility |
Applicants must be at least 18 years of age and not more than 70 years old. |
Resident Indian salaried/self employed candidates belonging to the 21-65 years age group |
Prepayment charges |
No prepayment penalties. Reduce your interest burden by prepaying the loan. |
Individual applicants for loans with variable interest rates are not subject to prepayment penalties. For fixed-rate loans and non-individual borrowers, there are 2% prepayment penalties. |
| Popular Home Loan Products | SBI Regular Home Loan |
HDFC Home Loan |
SBI NRI Home Loan |
Home Extension Loan |
|
SBI FlexiPay Home Loan |
The HDFC Advantage |
|
SBI Pre-approved Home Loan |
Special Home Loan for Agriculturists |
|
SBI Bridge Home Loan |
Rural Housing Loans |
|
SBI Home Top Up Loan |
HDFC Plot Loans |
|
SBI Smart Home Top Up Loan |
HDFC Reach Loan |
|
SBI YONO Insta Home Top Up Loan |
Pradhan Mantri Awas Yojana |
|
SBI Corporate Home Loan |
HDFC Home Loan for NRI/PIO |
I hope after going through this table, you will be able to make a sound decision regarding which home loan is better SBI or HDFC.
It is critical to evaluate several lenders' offers when opting for a home loan. Finding a loan that meets a customer's needs and budget is made easier by comparing the loans. I’d like to conclude my answer here about SBI Vs HDFC home loan which is better. I hope this helps:)
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Which Home Loan is Better SBI Or HDFC?
Karishma
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2 Year
2023-06-06T19:38:43+00:00 2023-06-06T19:59:50+00:00Comment
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