Compare State Bank of India (SBI) versus Bank of Baroda (BoB) home loan interest rate and other charges so that you can find out which is the best home loan for you. Your dream of owning your own home can now become a reality faster and in a more affordable way by understanding the interest rates and other attractive features of the loans offered by these two leading banks.
The different rates, charges, and features of SBI home loan vs BoB home loan are given below:
|Compare||SBI Home Loan||Bank of Baroda Home Loan|
|Interest Rate||6.95% p.a. onwards||7.00% p.a. onwards|
|Processing Fees||0.40% of loan amount + GST
Minimum: Rs.10,000 + GST
Maximum: Rs.40,000 + GST
|Contact the bank|
|MCLR (1 year)||7.00%||7.50%|
|Retail Lending Rate||EBR: 6.65%||BRLLR: 7.00%|
|Loan Amount||Contact the bank||Contact the bank|
|Loan Tenure||30 years||30 years|
Between 18 to 70 years of age
|Resident Indians and NRIs|
|Penal Interest Rates||2% p.a.||Contact the bank|
Both State Bank of India (SBI) and Bank of Baroda (BoB) are banks that offer a wide range of home loans that cater to different requirements with interest rates being affordable and varying according to different categories. SBI offers interest rate concessions for women borrowers of 05 basis points. BoB’s interest rate is linked to the Baroda Repo Linked Lending Rate (BRLLR) to which the risk rating of the applicant is also added. This can result in varying interest rates for different individuals depending on which loan scheme is being applied for. The quantum of finance applied for will also have a bearing on the final interest rate.
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