A "low interest" loan shouldn't mean you have very little interest in paying it back!
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 | For Salaried:8.60% - 8.95% p.a. For self-employed: 8.70% - 9.05% p.a. | 8.40% p.a. onwards |
| Processing Fees | 1% of loan amount; minimum Rs.10,000 | 0.35% of loan amount + GST Minimum: Rs.2,000 + GST Maximum: Rs.10,000 + GST |
| MCLR (1 year) | 8.35% | 8.05% |
| Retail Lending Rate | BPLR: 17.20% | EBR: 8.55% |
| Loan Amount | Up to Rs.5 crore | Contact the bank |
| Loan Tenure | 30 years | 30 years |
| Lowest EMI | Rs.649 | Rs.652 |
| Eligibility | Resident Indian and NRI Salaried and self-employed | Resident Indian Between 18 to 70 years of age |
| Prepayment Charges | Nil | Nil |
| Penal Interest Rates | 24% p.a. | 2% p.a. |
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Axis Bank and SBI offer home loans with comparable and affordable interest rates. While Axis Bank starts at 8.60% p.a. onwards, with lower interest rates for salaried individuals, SBI offers home loans starting at 8.40% onwards with an 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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