{"id":7202,"date":"2022-10-11T13:14:20","date_gmt":"2022-10-11T13:14:20","guid":{"rendered":"https:\/\/www.homebazaar.com\/knowledge\/?p=7202"},"modified":"2025-01-13T09:33:04","modified_gmt":"2025-01-13T09:33:04","slug":"hdfc-vs-sbi-bank-home-loan","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/knowledge\/hdfc-vs-sbi-bank-home-loan\/","title":{"rendered":"HDFC Vs SBI Bank Home Loan: Which Is Better?"},"content":{"rendered":"<h2><b>About SBI Home Loan and HDFC Home Loan<\/b><\/h2>\n<p>The distinctive features given below will let you know which is the best between HDFC vs SBI.<\/p>\n<p><b>SBI Home Loan<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The purpose of an SBI <a href=\"https:\/\/www.homebazaar.com\/homeloans\">home loan<\/a> is for both salaried employees and independent employees who can apply for SBI house loans.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The properties that are already built and those that are still under development are eligible for the loan.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">SBI house loans can be utilised for home remodelling as well.<\/span><\/p>\n<p><b>HDFC Home Loan<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The goal of an HDFC Home Loan is to enable people from all aspects of life to purchase or build a home.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The loan can be avail for purchasing a new apartment or ready-to-move flat or even for plot purchase from DDA or MHADA.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">HDFC offers special loans for farmers, agricultural workers, and others. Home loans are also available from HDFC to salaried and independent workers.<\/span><\/p>\n<p><b>Note:<\/b><\/p>\n<p><i><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.homebazaar.com\/\">Homebazaar<\/a> serves homebuyers searching for flats in India with end-to-end services like site visits, and lower-interest home loans to property registration guidance. We provide the best price options &amp; offers for 1 to 4 BHK RERA-registered flats, villas &amp; penthouse properties in India. To begin a smooth homebuying journey with us, fill out the form mentioned below or on the right side.<\/span><\/i><\/p>\n<h2><b>HDFC vs SBI Home Loan: <\/b><b>Rate of Interest<\/b><\/h2>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-7203 size-full\" src=\"https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Rate-of-Interest.jpg\" alt=\"HDFC vs SBI Home Loan: Rate of Interest\" width=\"810\" height=\"391\" srcset=\"https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Rate-of-Interest.jpg 810w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Rate-of-Interest-300x145.jpg 300w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Rate-of-Interest-768x371.jpg 768w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Rate-of-Interest-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Housing loans are long-term agreements, so it&#8217;s crucial to understand your whole interest liability at the outset.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You may easily use an <\/span><a href=\"https:\/\/www.homebazaar.com\/home-loan-emi-calculator\"><span style=\"font-weight: 400;\">EMI calculator<\/span><\/a><span style=\"font-weight: 400;\"> to figure out the interest rate that will be charged on your home loan.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The current rate of interest for HDFC Bank for a home loan is<\/span> <span style=\"font-weight: 400;\">8.60% P. A<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The current interest rate for an SBI home loan is <\/span><span style=\"font-weight: 400;\">8.50% P.A<\/span><\/li>\n<\/ul>\n<h2><b>Home Loan HDFC vs SBI: Eligibility<\/b><\/h2>\n<p><img decoding=\"async\" class=\"alignnone wp-image-7204 size-full\" src=\"https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Eligibility.jpg\" alt=\"Home Loan HDFC vs SBI: Eligibility\" width=\"810\" height=\"391\" srcset=\"https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Eligibility.jpg 810w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Eligibility-300x145.jpg 300w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Eligibility-768x371.jpg 768w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Eligibility-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/p>\n<p><b>Eligibility for HDFC Home Loan<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The person who is applying for a home loan must be younger than 65 years of age and at a minimum of 18 years old.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Applicants must be employed and self-employed professionals who are residents or salaried non-residents.<\/span><\/li>\n<\/ul>\n<p><b>Eligibility for SBI Home Loan<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A candidate needs to be at least 18 years old and not older than 70.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A person applying for a home loan must be an employed or self-employed professional who is a resident or salaried non-resident of the country.<\/span><\/li>\n<\/ul>\n<h2><b>Processing Fees for Home Loan HDFC vs SBI<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The<\/span><a href=\"https:\/\/www.homebazaar.com\/knowledge\/home-loan-processing-fee\/\"><span style=\"font-weight: 400;\"> processing fees<\/span><\/a><span style=\"font-weight: 400;\"> are the charges applicable to home loans for handling documents, sanctioning and verification processes. This charge varies depending on the financial institution.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The HDFC home loan processing fee is a minimum of 0.5% i.e Rs. 3,560\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The SBI home loan processing fee is a minimum of 0.1% i.e Rs. 5,900<\/span><\/p>\n<p>Also other charges can be paid on the government&#8217;s <a href=\"https:\/\/igrmaharashtra.gov.in\/Home\" rel=\"nofollow noopener\" target=\"_blank\">official portal<\/a>.<\/p>\n<h2><b>Maximum Loan Amount for Home Loan<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The loan amount for SBI home loans and HDFC home loans is up to Rs. 10 CR or up to 90% of the value of the property.<\/span><\/p>\n<h2><b>Pros and Cons of SBI vs HDFC Home Loan<\/b><\/h2>\n<p><img decoding=\"async\" class=\"alignnone wp-image-7212 size-full\" src=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2022\/10\/12104429\/Pros-and-Cons-of-SBI-vs-HDFC-Home-Loan1.jpg\" alt=\"Pros and cons for HDFC vs SBI\" width=\"810\" height=\"391\" srcset=\"https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2022\/10\/12104429\/Pros-and-Cons-of-SBI-vs-HDFC-Home-Loan1.jpg 810w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2022\/10\/12104429\/Pros-and-Cons-of-SBI-vs-HDFC-Home-Loan1-300x145.jpg 300w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2022\/10\/12104429\/Pros-and-Cons-of-SBI-vs-HDFC-Home-Loan1-768x371.jpg 768w, https:\/\/homebazaar-blog.s3.ap-south-1.amazonaws.com\/knowledge\/wp-content\/uploads\/2022\/10\/12104429\/Pros-and-Cons-of-SBI-vs-HDFC-Home-Loan1-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Both<\/span> <span style=\"font-weight: 400;\">SBI and HDFC home loans have some pros and cons. Here is the list of it.<\/span><\/p>\n<p><b>Pros of SBI Home Loans<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Affordable interest rates<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There are no upfront fees.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Long-term repayment<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Special consideration is given to female applicants<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">You can use your home loan as an overdraft.<\/span><\/li>\n<\/ul>\n<p><b>Cons of SBI Home Loans<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Compared to HDFC Bank, the maximum loan amount is less.<\/span><\/p>\n<p><b>Pros of HDFC Home Loans<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Low rates of interest<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Reduce EMIs for women as part of a specific marketing initiative<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Long-term for repayment<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Loan approval prior to choosing a property with no additional fees<\/span><\/li>\n<\/ul>\n<p><b>Cons of HDFC Home Loans<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Compared to the State Bank of India, there is a higher rate of interest.<\/span><\/p>\n<h2><b>Benefits and Features of SBI Home Loan vs HDFC Home Loan<\/b><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7206 size-full\" src=\"https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Benefits-and-Features-of-SBI-Home-Loan-vs-HDFC-Home-Loan.jpg\" alt=\"Benefits and Features of HDFC vs SBI Home Loan \" width=\"810\" height=\"391\" srcset=\"https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Benefits-and-Features-of-SBI-Home-Loan-vs-HDFC-Home-Loan.jpg 810w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Benefits-and-Features-of-SBI-Home-Loan-vs-HDFC-Home-Loan-300x145.jpg 300w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Benefits-and-Features-of-SBI-Home-Loan-vs-HDFC-Home-Loan-768x371.jpg 768w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/Benefits-and-Features-of-SBI-Home-Loan-vs-HDFC-Home-Loan-750x362.jpg 750w\" sizes=\"(max-width: 810px) 100vw, 810px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">With the option to research a wide variety of house loan offers available in the market, top lenders like SBI and HDFC provide many benefits and features with home loans to the applicants.<\/span><\/p>\n<p><b>SBI Home Loan Benefits and Features<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">5 basis points off of SBI&#8217;s house loan rates for female customers<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There is no penalty for prepaying floating-rate home loans<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There are overdraft, top-up, and balance transfer options available.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There are also no hidden fees<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Appealing tax benefits<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Interest is charged on the daily falling balance.<\/span><\/li>\n<\/ul>\n<p><b>HDFC Home Loan Benefits and Features<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Women&#8217;s borrowers are given lower interest rates.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Available overdraft, top-up, and transfer of balance facilities<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Many loan repayment choices to suit individuals&#8217; needs<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A simple and quick documentation process<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">No hidden fees<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Competitive tax benefits.<\/span><\/li>\n<\/ul>\n<h2><b>SBI Home Loan vs HDFC Home Loan<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Here is a brief comparison between SBI home loan vs HDFC home loan.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7207 size-full\" src=\"https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/table_SBI-Home-Loan-vs-HDFC-Home-Loan.png\" alt=\"HDFC vs SBI Home Loan\" width=\"704\" height=\"731\" srcset=\"https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/table_SBI-Home-Loan-vs-HDFC-Home-Loan.png 704w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/table_SBI-Home-Loan-vs-HDFC-Home-Loan-289x300.png 289w, https:\/\/www.homebazaar.com\/knowledge\/wp-content\/uploads\/2022\/10\/table_SBI-Home-Loan-vs-HDFC-Home-Loan-24x24.png 24w\" sizes=\"(max-width: 704px) 100vw, 704px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Also, Read <\/span><a href=\"https:\/\/www.homebazaar.com\/knowledge\/home-loan-insurance\/\"><span style=\"font-weight: 400;\">What is Home Loan Insurance and its Importance.<\/span><\/a><\/p>\n<h2><b>FAQs<\/b><\/h2>\n<table>\n<tbody>\n<tr>\n<td><b>Which bank is better for home loans private or government?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A public service bank will give you a house loan at a lower interest rate than the private operators while a private sector institution will complete the transaction more quickly.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Which government bank is better?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">SBI is the biggest public sector institution in India and number one on the list of finest banks in India, this bank has 23% of the overall market assets in India.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Can I trust HDFC Bank?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">For decades, HDFC Bank has offered the highest-quality banking and financial solutions and services, earning it the title of the most trusted bank in India today.<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Is SBI Bank good for home loans?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">SBI is the chosen bank for house loans for more than 40 lakh families. Along with traditional house loans, SBI also offers Top-Up loans with incredibly low interest rates ranging at only 8.60% p.a.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>About SBI Home Loan and HDFC Home Loan The distinctive features given below will let you know which is the best between HDFC vs SBI. SBI Home Loan The purpose of an SBI home loan is for both salaried employees and independent employees who can apply for SBI house loans.\u00a0 The properties that are already [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":18070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1192,1189,1194,1191,1193,1190],"class_list":["post-7202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-loan","tag-hdfc-home-loan-vs-sbi-home-loan","tag-hdfc-vs-sbi-home-loan","tag-home-loan-hdfc-vs-sbi","tag-home-loan-sbi-vs-hdfc","tag-sbi-home-loan-vs-hdfc-home-loan","tag-sbi-vs-hdfc-home-loan"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/7202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/comments?post=7202"}],"version-history":[{"count":11,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/7202\/revisions"}],"predecessor-version":[{"id":18778,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/posts\/7202\/revisions\/18778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/media\/18070"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/media?parent=7202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/categories?post=7202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/knowledge\/wp-json\/wp\/v2\/tags?post=7202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}