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    SBI Bank Vs ICICI Bank Home Loan 2

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    Gargi Tiwari
    SBI Bank and ICICI Bank are two of the largest banks in India that offer home loans. SBI provides home loans for various types of individuals with loan amounts between Rs. 5 lakh to Rs. 10 crore and interest rates starting at 6.8% annually. ICICI Bank offers home loans for individuals residing in India with loan amounts starting at Rs. 5 lakh and interest rates at 6.7% annually. Both banks have similar eligibility requirements and documentation needed but vary in their loan products and application processes. Researching the rates, charges, and pros of each bank is important when applying for a home loan due to the long-term financial commitment.

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    SBI Bank Vs ICICI Bank Home Loan 2

    Uploaded by

    Gargi Tiwari
    107 views2 pages
    SBI Bank and ICICI Bank are two of the largest banks in India that offer home loans. SBI provides home loans for various types of individuals with loan amounts between Rs. 5 lakh to Rs. 10 crore and interest rates starting at 6.8% annually. ICICI Bank offers home loans for individuals residing in India with loan amounts starting at Rs. 5 lakh and interest rates at 6.7% annually. Both banks have similar eligibility requirements and documentation needed but vary in their loan products and application processes. Researching the rates, charges, and pros of each bank is important when applying for a home loan due to the long-term financial commitment.

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    SBI Bank vs ICICI Bank Home Loan 2

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    SBI Bank and ICICI Bank are two of the largest banks in India that offer home loans. SBI provides home loans for various types of individuals with loan amounts between Rs. 5 lakh to Rs. 10 crore and interest rates starting at 6.8% annually. ICICI Bank offers home loans for individuals residing in India with loan amounts starting at Rs. 5 lakh and interest rates at 6.7% annually. Both banks have similar eligibility requirements and documentation needed but vary in their loan products and application processes. Researching the rates, charges, and pros of each bank is important when applying for a home loan due to the long-term financial commitment.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    107 views2 pages

    SBI Bank Vs ICICI Bank Home Loan 2

    Uploaded by

    Gargi Tiwari
    SBI Bank and ICICI Bank are two of the largest banks in India that offer home loans. SBI provides home loans for various types of individuals with loan amounts between Rs. 5 lakh to Rs. 10 crore and interest rates starting at 6.8% annually. ICICI Bank offers home loans for individuals residing in India with loan amounts starting at Rs. 5 lakh and interest rates at 6.7% annually. Both banks have similar eligibility requirements and documentation needed but vary in their loan products and application processes. Researching the rates, charges, and pros of each bank is important when applying for a home loan due to the long-term financial commitment.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    SBI Bank vs ICICI Bank Home Loan

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    Check your Eligibility!

    State Bank of India (SBI) is a multinational financial services company headquartered in


    Mumbai, and in one of the largest banks in the world. With amazing home loan products
    and incredible, competitive rates of interest, SBI have definitely one of the largest
    players in the home loan market. The bank has also incorporated top of the line
    technology into its financial services making it a customer friendly platform for
    customers to use.
    ICICI bank is one of the most popular multinational banks in India. In terms of assets, it
    is the third largest bank in the nation and is the fourth largest in terms of market
    capitalisation. With an array of services to offer, ICICI is the go-to bank for many
    individuals all over the country. One of its most prominent products is their home loan
    product. Its wide range of home loan products clubbed with its impeccable customer
    service, and its vast network of branches makes ICICI bank one of the top banks in the
    country for home loans. With two heavyweights like these to choose from, it can be a
    strenuous task. Below is a comparison table that can help ease you decision making
    process.

    Comparison between SBI Bank vs ICICI Bank Home Loan

    Category SBI Home Loan ICICI ban

    SBI bank provides home loan products to various types of Home loa
    Purpose individuals like salaried, self-employed, NRIs, etc., depending on persons d
    their requirements residence

    Loan amount Rs.5 lakh – Rs.10 crore Rs.5 lakh

     SBI Regular Home Loan  IC


    Popular Home Loan
    Products  SBI Balance Transfer of Home Loan  IC
     SBI NRI Home Loan  P
     SBI FlexiPay Home Loan  L
     SBI Privilege Home Loan
     SBI Shaurya Home Loan
     SBI Pre-approved Home Loan
     SBI Realty Home Loan
     SBI Home Top Up Loan
     SBI Bridge Home Loan
     SBI Smart Home Top Up Loan
     SBI YONO Insta Home Top-Up Loan
     SBI Corporate Home Loan
     SBI Home Loan to Non-Salaried – Differential offerings
     SBI Tribal Plus
     SBI Earnest Money Deposit
     SBI Reverse Mortgage Loan
     SBI CRE (Commercial Real Estate) Home Loan
     SBI Loan against Property (P-LAP)

    Rate of interest 6.80% p.a. onwards 6.70% p.

    Loan tenure Up to 30 years Up to 30

    Applicant must be at least 18 years of age and not more than 70 years
    Eligibility Applican
    of age

    Prepayment charges Nil Nil

    Processing fee Rs.2,000 – Rs.10,000 excluding tax 0.5% of t

     No guarantor required
    Pros  No prepayment charges No guara
     Loan can be availed up until the applicant is 70 years of age

     KYC  K
     Income proof  In
     Address proof  A
    Documentation
     ID proof  ID
     Bank statement  B
     Photograph  P

    You can either apply for a loan online or by visiting one of their
    Application process You can
    branches
    Obtaining a home loan is a long-term commitment, and therefore, there must be
    adequate research done prior to applying for one. This will help you compare the rates
    of interest, understand the hidden charges, if any, help you understand the pros of that
    particular bank, etc. Remember, even a slight variation in home loan interest rate can
    affect the overall interest payable greatly as home loans are a long-term commitment.

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