Make a well-informed decision about the best home loan for you by comparing the interest rates and other features of different loans, for example, Axis Bank vs State Bank of India (SBI) home loans. Both these leading banks offer competitive interest rates and a wide variety of loan schemes that cater to different requirements. This will help you choose the right loan for you and make your dream of owning a home a reality.
Given below are the different parameters for Axis Bank home loans vs SBI home loans:
|Compare||Axis Bank Home Loan||SBI Home Loan|
|Interest Rate||7.75% p.a. onwards||6.95% p.a. onwards|
|Processing Fees||1% of loan amount; minimum Rs.10,000||0.40% of loan amount + GST
Minimum: Rs.10,000 + GST
Maximum: Rs.40,000 + GST
|MCLR (1 year)||7.55%||7.00%|
|Retail Lending Rate||BPLR: 16.55%||EBR: 6.65%|
|Loan Amount||Up to Rs.5 crore||Contact the bank|
|Loan Tenure||30 years||30 years|
|Eligibility||Resident Indian and NRI
Salaried and self-employed
Between 18 to 70 years of age
|Penal Interest Rates||24% p.a.||2% p.a.|
Axis Bank and SBI offers home loans with comparable and affordable interest rates. While Axis Bank starts at 7.75% p.a. onwards, with lower interest rates for salaried individuals, SBI offers home loans starting at 6.95% onwards with interest rate concession of 05 basis points for women borrowers. Interest rates for Axis Bank and SBI home loans also vary according to the scheme and quantum of loan applied for with different features for each scheme.
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