SBI vs Canara Bank Home Loan
Choosing between SBI and Canara Bank Home Loans in 2025 goes beyond just comparing interest rates. SBI offers rates starting from 7.50%, known for its reliability, vast network, and special products like SBI Maxgain. On the other hand, Canara Bank starts slightly lower at 7.45%, with added perks such as free credit cards and lower processing fees. Both banks offer loans up to ₹5 crore with tenures up to 30 years. While Canara Bank is ideal for value-seekers and older borrowers, SBI stands out for its trusted service and diverse loan options.
SBI vs Canara Bank Home Loan
The right choice between an SBI vs Canara Bank home loan in 2025 can help you save thousands in interest payments. A look at these popular lenders shows some vital differences in their interest rates. SBI’s interest rates start at 8.00% and go up to 8.95%, while Canara Bank’s interest rates start from 7.95% to 8.95%.
SBI Home Loan Interest Rate
| Rate of Interest | Max funding | ||
| Credit Score | ROI | Loan Amount | Funding % |
| >=825 | 7.50% | <=30 Lakh | 90% |
| 750 – 824 | 7.70% | ||
| 700 – 749 | 7.80% | 30<75 Lakh | 80% |
| 650 – 699 | 8.15% | ||
| 550-649 | 8.45% | 75 Lakh> | 75% |
| NTC | 7.80% | ||
| NTC=101-150 | 8.25% | – | – |
| NTC=150-200 | 7.70% | – | – |
| Apply Now | |||
Canara Bank Home Loan Interest Rate
| Rate of Interest | Max funding | ||
| Credit Score | ROI | Loan Amount | Funding % |
| > 800 | 7.45% | >=30 Lakh | 90% |
| 772-799 | 7.45% | ||
| 751-771 | 7.75% | 30<75 Lakh | 80% |
| 730-750 | 7.75% | ||
| 701-729 | 8.20% | 75 Lakh> | 75% |
| – | – | ||
| – | – | ||
| Apply Now | |||
SBI vs Canara Bank: Key Comparison Factors for 2025
Comparing SBI vs Canara Bank home loan options in 2025 requires looking beyond simple rates. Let’s get into the key factors that affect your long-term financial commitment.
| Feature | SBI Home Loan | Canara Home Loan |
| Interest Rates | 7.50% p.a. to 8.45% p.a. | 7.45% p.a. to 8.20% p.a. |
| Indicative EMI (₹) | Varies based on rate and loan amount | Varies based on rate and loan amount |
| Maximum Loan Amount | Up to ₹5 crores | Based on eligibility & property cost |
| Repayment Tenure | Up to 30 years | Up to 30 years |
| Processing Fees | Up to 0.35% of loan amount + GST (Min ₹2,000, Max ₹10,000) | 0.50% of loan amount + GST (Max ₹15,000) |
| Loan-to-Value (LTV) | Up to 90% | Up to 90% |
| Women Borrower Concession | 0.05% reduction | 0.05% concession in interest rate |
| Special Features | FlexiPay, Pre-approved options, Lower rates for women | Canara Home Loan Advantage, Top-Up Loan facility, Balance Transfer facility |
The Loan-to-Value (LTV) ratio shows these differences in the SBI vs Canara Bank home loan comparison:
- SBI offers up to 90% financing for loans up to ₹30 lakhs, 80% for ₹30-75 lakhs, and 75% for loans above ₹75 lakhs
- Canara Bank provides up to 90% for new properties (less than 10 years old) and 75% for older properties
In SBI vs Canara Bank, both banks’ special concessions could benefit you:
- SBI provides preferential rates based on CIBIL scores, with scores above 800 receiving the best rates
- Canara Bank offers women borrowers an interest rate that’s 0.25% lower than standard rates
Your effective rate in the Canara Bank vs SBI home loan comparison depends on your credit profile, loan amount, and relationship with the bank.
Feature Comparison – SBI vs Canara Bank Home Loan
Here’s a simple breakdown to help you compare SBI vs Canara Bank Home Loan features and choose the best fit for your needs:
1. Rate of Interest
When comparing Canara vs SBI Bank Home Loan, interest rates play a major role.
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SBI Home Loan: 7.50% – 8.70% p.a., ideal for those who want lower EMIs.
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Canara Bank Home Loan: 7.40% – 10.25% p.a., offering slightly lower starting rates and potential long-term savings.
2. Loan Tenure
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SBI: Offers flexible loan tenure of up to 30 years, suitable for those seeking smaller monthly instalments.
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Canara Bank: Allows repayment up to 30 years or till 75 years of age, whichever is earlier — great for borrowers planning longer repayment terms.
3. Maximum Loan Amount
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SBI: Provides loans up to ₹5 crore, perfect for high-value or luxury properties.
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Canara Bank: Also offers up to ₹5 crore, suitable for both mid-range and premium housing needs.
4. Processing Fees
Processing charges can affect the total cost of your loan.
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SBI: Charges 0.35% of the loan amount (plus GST).
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Canara Bank: Levies 0.50% of the loan amount (minimum ₹1,500 + GST and maximum ₹10,000 + GST).
When evaluating Canara Bank vs SBI Home Loan, both options have competitive rates and features — your ideal choice depends on your income, tenure preference, and desired flexibility.
Product Offerings and Special Schemes
SBI vs Canara Bank home loan comparison shows that both banks provide a wide range of home loan products catering to different customer segments in 2025. You can pick the right financial partner by learning about their loan options that match your housing needs.
| Category | SBI Home Loan | Canara Bank Home Loan |
| Basic Home Loan | Regular Home Loan for purchase, construction, extension, or renovation | Standard Housing Loan with no upper limit on loan amount |
| Income-Based Eligibility | Based on income and CIBIL score | Salaried borrowers can get up to 72× their gross monthly salary |
| Loan for Low-Income Groups | SBI Tribal Plus Scheme – for borrowers in tribal/hilly regions with repayment up to 15 years | Canara Kuteer Scheme – for families earning up to ₹3 lakh annually |
| NRI Home Loans | SBI NRI Home Loan | NRI Home Loan – loan amount up to 4–5× annual gross income |
| Loan for Senior Citizens | SBI Reverse Mortgage Loan Scheme | Available under the general home loan eligibility |
| Loan for Armed Forces | SBI Shaurya Home Loan – special scheme for defense/military personnel | Not specified |
| Top-Up Loan Facility | Available under SBI Home Loan Top-Up & Insta Top-Up options | Canara Home Loan Plus – for domestic needs and emergencies for existing borrowers |
| Solar Housing Scheme | Not available | Canara Housing Cum Solar Loan – home loan with solar panel financing |
| Pre-Approved Loan | SBI Pre-Approved Home Loan (PAL) – enables faster processing and better negotiation | Not specified |
| Overdraft Feature | Available via SBI MaxGain Home Loan – link the home loan to the overdraft account | Not available |
| Free Credit Card | Not specified | Free credit card with a home loan |
| Life Insurance Cover | Optional, on the borrower’s request | Life insurance is provided for all home loan borrowers |
| Festive Offer | Interest concessions for women and defense borrowers | 50% waiver on processing fee under Retail Loan Festival till 30th June 2025 |
Your choice between SBI vs Canara Bank home loan depends on which specialized scheme better fits by analyzing through the home loan eligibility calculator your needs, rather than just the interest rates and fees, can be calculated.
Which Bank Gives You Better Value with Home Loans in 2025?
| Feature | SBI Home Loan | Canara Bank Home Loan |
| Interest Rate (Starting) | 7.50% p.a | 7.45% p.a |
| Loan Amount Benefit | Standard rates | Lower rates for loans above ₹75 lakhs |
| Processing Fees | Standard | 50% discount under Retail Loan Festival (till June 30, 2025) |
| Loan Tenure | Up to 30 years | Up to 30 years |
| Maximum Age at Loan Maturity | Up to 70 years | Up to 75 years |
| Customer Experience | Thorough but lengthy process | Faster with additional perks (e.g., free credit card) |
| Loan Security | Trusted and detailed documentation | Attractive offers but slightly less rigorous |
| Extra Perks | Reputation and reliability | Promotional benefits and no upper loan cap (income-based) |
| Best For | Buyers seeking long-term reliability | Value-seekers want lower costs and faster processing |
Bank Highlights – SBI vs Canara Bank Home Loan
Here’s a quick look at the key features when comparing SBI vs Canara Bank home loans:
SBI Home Loan Highlights
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Low processing charges with no hidden costs
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No prepayment penalties, giving you full repayment flexibility
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Option to avail your home loan as an overdraft (Maxgain feature)
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Interest calculated on a daily reducing balance, helping save on interest
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Wide range of home loan products to suit different borrower needs
Canara Bank Home Loan Highlights
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No upper limit on the housing loan amount
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No prepayment penalty, allowing easy loan closure anytime
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Complimentary credit card for eligible borrowers
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Minimal processing charges for a cost-effective loan
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Reducing balance interest rate for lower EMIs over time
When comparing Canara Bank vs SBI Home Loan, both banks offer attractive features, but your choice should depend on your loan amount, repayment preference, and desired flexibility.
How NoBroker Can Help You
NoBroker makes comparing SBI vs Canara Bank home loans simple and stress-free. Instead of visiting multiple branches or browsing through confusing details, you can explore and apply for the best home loan options directly on NoBroker.
Here’s how NoBroker helps:
- Instant Loan Comparison: Quickly compare SBI and Canara Bank home loan interest rates, processing fees, and eligibility.
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- Faster Processing: Save time with digital verification and expert support throughout your home loan journey.
With NoBroker, you can easily choose between Canara Bank vs SBI Home Loan based on your needs — all from the comfort of your home.
Conclusion
The comparison between SBI vs Canara Bank home loans in 2025 reveals some clear differences to help you choose better. Canara Bank has a lower starting interest rate of 7.45% compared to SBI’s 7.50%. This difference can save you money over a 30-year loan period. The bank also offers a 50% processing fee waiver until June 30, 2025, which means upfront savings even though their standard fee is higher than SBI’s.
In SBI vs Canara Bank home loans, both banks let you borrow up to ₹5 crore with 30-year repayment terms. Canara Bank allows loans until borrowers turn 75, while SBI caps it at 70 years. This age limit difference matters a lot for older borrowers and people planning to invest later in their careers.
Your choice should depend on what matters most to you. Canara Bank might work better if you want the lowest interest rates and extras like free credit cards. SBI would be your choice if you appreciate the credibility of the bank and complete documentation despite marginally higher interest rates.
Take time to view your finances and align these characteristics with what you require. The home loan market continues to evolve up to 2025, so keep an eye out for new deals from both banks. In the SBI vs Canara Bank home loan comparison, both banks have their advantages depending on your needs, whether it’s interest rates, fees, or customer experience. The Canara Bank vs SBI home loan decision ultimately comes down to which factors—such as loan tenure, interest rate, or additional benefits—are most important to you.
