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  • SBI Home Loan Vs LIC Housing Finance

    Compare State Bank of India (SBI) versus Life Insurance Corporation (LIC) Housing Finance home loans to decide which is the best home loan for you by understanding the different interest rates and other charges. Both these financial institutions have a wide range of home loans that cater to different requirements and can make your dream of owning your home easier by making it more affordable.

    Compare SBI Home Loan Vs LIC Housing Finance Home Loan

    The interest rate, charges, and other features of SBI vs LIC HFL home loans are given below:

    Compare SBI Home Loan LIC Housing Finance Home Loan
    Interest Rate 8.40% p.a. onwards 8.30% p.a. onwards
    Processing Fees 0.35% of loan amount + GST Minimum: Rs.2,000 + GST Maximum: Rs.10,000 + GST 0.25% to 0.50% of loan amount subject to Rs.5,000 minimum and Rs.15,000 maximum + GST
    MCLR (1 year) 8.05%
    Retail Lending Rate EBR: 8.55% LHPLR: 16.45%
    Loan Amount Contact the bank 90% of property value up to Rs.30 lakh, 80% of property value from Rs.30 lakh to Rs.75 lakh 75% of property value, more than Rs.75 lakh
    Loan Tenure 30 years 30 years
    Lowest EMI Rs.649 Rs.659
    Eligibility Resident Indian Between 18 to 70 years of age Resident Indians and NRIs Salaried, self-employed, or professionals
    Prepayment Charges Nil Nil
    Penal Interest Rates 2% p.a. Up to 2% p.m. on defaulted instalment
    Popular Home Loan Products
    • SBI Regular Home Loan
    • SBI Balance Transfer Home Loan
    • SBI Flexipay Home Loan
    • SBI Privilege Home Loan
    • SBI Shaurya Home Loan
    • SBI Pre-approved Home Loan
    • SBI Bridge Home Loan
    • SBI Home Top Up Loan
    • SBI Smart Home Top Up Loan
    • SBI YONO Insta Home Top Up Loan
    • SBI Corporate Home Loan
    • SBI Home Loan to Non-Salaried
    • SBI Tribal Plus
    • SBI NRI Home Loan
    • LIC HFL Home Loan
    • LIC HFL Home Construction Loan
    • LIC HFL Home Extension Loann
    • LIC HFL Home Improvement Loan
    • LIC HFL Top Up Home Loan
    • LIC HFL Home Loan Balance Transfer
    • LIC HFL Griha Varishtha Home Loan for Pensioner
    • LIC HFL Griha Suvidha
    • LIC HFL Home Loan for NRI
    • LIC HFL Plot Loan
    • Pradhan Mantri Awas Yojana
    • LIC HFL Advantage Plus

    Which Bank Offers the Lowest Home Loan Interest Rate – SBI Vs LIC Housing Finance?

    Both SBI and LIC HFL provide affordable interest rates to prospective home owners, with LIC HFL’s interest rate starting at 8.30% p.a. but SBI providing an interest rate concession to women borrowers, thus starting the interest rates at 8.40% p.a.

    The CIBIL Score plays an important role in the interest rates offered by LIC Housing Finance. Salaried, non-salaried, professional, and non-professional individuals with CIBIL scores above 700 get an interest rate of 9.00% p.a. for home loans of up to Rs.15 crore. The interest rates vary according to employment type, CIBIL scores, and quantum of loan.


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