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 MoreWhat Are All Types Of Sbi Home Loan?
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Authors Of The Question
Which Home Loan Is Better SBI Home Loan Vs ICICI Home Loan?
Anirban
578Views
8 months
2024-02-16T08:57:01+00:00 2024-08-06T15:01:11+00:00Comment
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