Question: Is LIC Home Loan Better Than SBI?

What is the current rate of interest for home loan in LIC?

6.90% to 7.80%LIC Housing Finance Home Loan Interest Rate: 6.90% to 7.80% Processing Fee payable to LIC Housing Finance: Upto ₹ 10,000.

Current offer for processing fee is Nil.

Fee payable to MyLoanCare: NIL..

Which type of loan is cheapest?

Secured personal loans often come with lower interest rates than unsecured personal loans. That’s because the lender may consider a secured loan to be less risky — there’s an asset backing up your loan.

Is SBI good for home loan?

Lowest Interest Rate: You can take it for granted and in writing that SBI Home Loan Interest Rate will always be lowest among all the banks. One of the reason is a scale of operation i.e. economies of scale. Secondly, SBI has access to cheap funds as the CASA ratio is one of the best among all the banks.

Does LIC give home loans?

LIC Home Loan EMI. … LIC Housing Finance offers Home Loans with loan tenure upto 30 years, and the lowest EMI offered by the bank is ₹ 659 per lakh. The Lowest Rate of interest offered by LIC Housing Finance on Home Loan is 6.90% and is one of the most popular housing loans in India.

Which is the best option for home loan?

These 10 banks are offering the lowest home loan interest rates for salaried individuals.BANK NAMERLLRMinimum Interest Rate (%)Union Bank of India6.806.70Bank of India6.856.85Central Bank of India6.856.85Canara Bank6.906.906 more rows•Oct 23, 2020

Which home loan is best in SBI?

SBI Home Loan Interest Rates 2020SBI Home Loan SchemesInterest Rates for SalariedInterest Rates for Self EmployedSBI Smart Home Top Up Loan (Term Loan)8.50%8.55%SBI Smart Home Top Up Loan (Overdraft)8.55%9.05%Insta Home Top Up Loan8.20%8.20%SBI Earnest Money Deposit (EMD)10.45% onwards–7 more rows•Oct 20, 2020

What is the EMI for 30 lakhs home loan?

Current EMI for ₹ 25 lakhs loan is ₹ 16,549 and EMI for ₹ 30 lakh loan is ₹ 19,858 for a 30 year loan at the minimum interest rate.

Which bank is bigger SBI or HDFC?

Even as State Bank of India (SBI) has a balance sheet four times the size of HDFC Bank, the market capitalisation is just over a third of the private sector lender. SBI, the country’s largest lender, also has a customer base nearly ten times larger than HDFC Bank.

What is SBI home loan rate?

SBI Home Loan Interest Rate: 6.95% to 7.35% Processing Fee payable to SBI: Upto ₹ 10,000.

What will be the EMI for 20 lakhs home loan?

Check EMI Calculation for 20 Lakh home loan for 5, 10, 15, 20 Years or How much EMI you have to pay for 20 Lakh home loan amount per month?…EMI Calculation for 20 Lakh Home Loan amount for Various Tenure Options:Tenure OptionsEMI Per Month5 YearsRs.4056010 YearsRs.2426015 YearsRs.1912020 YearsRs.167202 more rows•Mar 16, 2020

Is HDFC good for home loan?

HDFC offers lower Home Loan EMI at ₹ 659 on a Home Loan for 30 Years as compared to SBI with a minimum EMI of ₹ 662 for 30 Years. Average customer ratings for HDFC is currently at 4.4/5.0 which makes it a good choice for taking a Home Loan.

What is current HDFC home loan rate?

Adjustable Rate Home LoansLoan SlabHome Loan Interest Rates (% p.a.)For Others* (upto 30 Lakhs)7.00 to 7.50For Women* (30.01 Lakhs to 75 Lakhs)7.20 to 7.70For Others* (30.01 Lakhs to 75 Lakhs)7.25 to 7.75For Women* (75.01 Lakhs & Above)7.30 to 7.803 more rows

How can I change my home loan interest rate?

“However, you can switch your balance loan to another lender (bank or HFC) that is willing to offer a lower interest rate. To switch your balance loan to another lender you, will have to pay a nominal conversion fee to the existing lender.

How much loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs. 20,16,481 at say an 8.5% interest rate for a tenure of 20 years. In this situation, the home loan EMI amount you would pay is not more than Rs. 17,500.

Which bank gives fastest home loan?

Best Bank for Home Loan in India 2020#1. ICICI Bank Home Loan.#2. State Bank of India Home Loan.#3. HDFC Bank Home Loan.#4. Axis Bank Home Loan.#5. Dewan Housing Finance Ltd. ( DHFL)#6. Indiabulls Home Finance.#7. LIC Housing Finance Home Loan.#8. PNB Housing Finance.More items…

Which home loan is best SBI or HDFC?

In any case, SBI is home loan low-interest bank. The lowest interest rate of SBI is lower than that of HDFC bank. SBI offers cheaper loan options….Which is a better bank for Home Loan – SBI or HDFC?CategorySBIHDFCAmount of LoanRs.5 L – Rs.10 CrUp to Rs 10 CrInterest Rate (Annual)6.95% – 7.50%6.95% – 8%1 more row•Aug 31, 2020

How much home loan can I get from LIC?

LIC Housing Finance Home Loan Eligibility in India 2020Eligibility CriteriaLIC Housing Finance Home LoanWork Experience for Salaried2 yearsBusiness Stability for Self Employed2 yearsLoan Amount Eligibility₹ 15 Lakh to ₹ 15 CrMaximum loan as percent of property valueUpto 80%4 more rows