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Compare Bank of Maharashtra vs Karnataka Bank Home Loan

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Bank
Interest Rate
Interest Rate
6.90% - 8.05%
8.55% - 9.50%
Processing Fees
Processing Fees
Upto 0.25%
Upto 0.25%
Min ₹ 250;
Maximum Loan Amount
Maximum Loan Amount
₹ 10 Cr
₹ 5 Cr
Maximum Tenure
Maximum Tenure
30 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 659
₹ 772
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
For Women
For Women
Y
N
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
2.5/5.0
2.5/5.0
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Compare Home Loan EMI of Bank of Maharashtra and Karnataka Bank

Loan Amount Bank of Maharashtra Karnataka Bank
₹ 10 Lakh ₹ 6,586 ₹ 7,725
₹ 25 Lakh ₹ 16,465 ₹ 19,312
₹ 30 Lakh ₹ 19,758 ₹ 23,174
₹ 50 Lakh ₹ 32,930 ₹ 38,623

Which is a better bank for Home Loan – Bank of Maharashtra or Karnataka Bank?

Bank of Maharashtra offers lower Home Loan EMI at ₹ 659 on a Home Loan for 30 Years as compared to Karnataka Bank with a minimum EMI of ₹ 772 for 30 Years. Average customer ratings for Bank of Maharashtra is currently at 2.5/5.0 which makes it a good choice for taking a Home Loan.

How does Bank of Maharashtra Home Loan compare with Karnataka Bank Home Loan?

It is important to do a detailed comparison of Bank of Maharashtra and Karnataka Bank on all loan terms and conditions to understand their differences and make an informed decision. Keep in mind that each bank’s scheme has its pros and cons that have to be evaluated before choosing the best offer. Some of the key results of the comparison between the two banks are:

  • Lowest Interest rate of Bank of Maharashtra Home Loan is 6.90%, which is lower than the lowest interest rate of Karnataka Bank at 8.55% and hence, Bank of Maharashtra is offering a cheaper loan option.
  • When compared to other Home Loan charges such as processing fees Bank of Maharashtra and Karnataka Bank charge the lowest processing fees as 0.25% of the loan amount.
  • Bank of Maharashtra is a with its Home Loan rates benchmarked to RLLR. On the other hand, Karnataka Bank is a with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to the same rate, making them a comparable option to choose from.
  • Bank of Maharashtra with an average customer ratings of 2.5 is equally comparable to Karnataka Bank with an average customer rating of 2.5, and hence, the customer can expect the same kind of service levels from these banks.
  • Bank of Maharashtra offers special discounted rate Home Loan schemes for women, while Karnataka Bank currently doesn’t have such schemes for women. Hence, women borrowers should consider Bank of Maharashtra.

Which bank offers a lower interest rate on Home Loan – Bank of Maharashtra or Karnataka Bank?

As per the current rates, Bank of Maharashtra offers a lower interest rate of 6.90% on Home Loan when compared to Karnataka Bank which offers a Home Loan at 8.55%.

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Compare Bank of Maharashtra Home Loan With Other Banks

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Home Loan News - Sep 2021
  • 2021-09-24 : ICICI Bank Revises Home Loan Interest Rate
    ICICI Bank has cut home loan interest to 6.70%. The lowest rate for salaried is 6.70% and self-employed is 6.80%. If a borrower has a low credit score then they will have to pay 7.40% of the principal amount.
  • 2021-09-24 : LIC Housing Finance Announces New Home Loan Rates
    LIC Housing Finance has slashed the home loan rate to 6.66% for loans up to Rs 2 crore. These rates will be offered to the borrowers who have a credit score above 700 and it is valid till November 30, 2021.
  • 2021-09-21 : HDFC Bank Introduce Festival Bonanza Offer
    HDFC Bank has come up with a festival bonanza offer which is valid till October 31, 2021. The lender has cut home loan interest rate to 6.70%, the special rate is linked to borrowers credit score.
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-17 : Bank of Baroda Slashes Home Loan Interest Rate
    Bank of Baroda (BOB) has introduced a festive offer #KhushiyonKaShreeGanesh. The lender has reduced the home loan interest rate to 6.75%. Along with a slashed interest rate the bank has also waived off processing fees.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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