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Compare Citibank vs Canara Bank Home Loan

Download Comparison
Bank
Interest Rate
Interest Rate
6.50% - 6.50%
6.90% - 8.90%
Processing Fees
Processing Fees
NIL
Upto 0.50%
Min ₹ 1,500; Max ₹ 10,000
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 10 Cr
Maximum Tenure
Maximum Tenure
25 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 675
₹ 659
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
TBLR
RLLR
Minimum Age
Minimum Age
23 Years
21 Years
Maximum Age
Maximum Age
65 Years
55 Years
For Women
For Women
N
Y
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.2/5.0
5/5.0
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Compare Home Loan EMI of Citibank and Canara Bank

Loan Amount Citibank Canara Bank
₹ 10 Lakh ₹ 6,752 ₹ 6,586
₹ 25 Lakh ₹ 16,880 ₹ 16,465
₹ 30 Lakh ₹ 20,256 ₹ 19,758
₹ 50 Lakh ₹ 33,760 ₹ 32,930

Which is a better bank for Home Loan – Citibank or Canara Bank?

Canara Bank offers lower Home Loan EMI at ₹ 659 on a Home Loan for 30 Years as compared to Citibank with a minimum EMI of ₹ 675 for 25 Years. Average customer ratings for Canara Bank is currently at 5/5.0 which makes it a good choice for taking a Home Loan.

How does Citibank Home Loan compare with Canara Bank Home Loan?

It is important to do a detailed comparison of Citibank and Canara 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 Citibank Home Loan is 6.50%, which is lower than the lowest interest rate of Canara Bank at 6.90% and hence, Citibank is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, Citibank charges a lower processing fees of Nil vs Canara Bank with a processing fees of 0.50% of loan amount.
  • Citibank is a with its Home Loan rates benchmarked to TBLR. Canara Bank is a with its home loan rates benchmarked to RLLR.
  • Canara Bank has an average customer ratings of 5, while Citibank has an average customer rating of 4.2, based on which it is clear that Canara Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.
  • Canara Bank offers special discounted rate Home Loan schemes for women, while Citibank currently doesn’t have such schemes for women. Hence, women borrowers should consider Canara Bank.

Which bank offers a lower interest rate on Home Loan – Citibank or Canara Bank?

As per the current rates, Citibank offers a lower interest rate of 6.50% on Home Loan when compared to Canara Bank which offers a Home Loan at 6.90%.

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Home Loan News - Jan 2022
  • 2022-01-21 : Properties to Get Costlier in Gurgaon as New Circle Rates Come into Effect
    The circle rates have been hiked for Golf Course Road, Golf Course Extension Road, Sohna Road, and Dwarka Expressway projects. As a result, homebuyers will have to shell out more money to purchase property, particularly in some upscale areas.
  • 2022-01-21 : PNB Housing Finance Announces Net profit for Q3
    PNB Housing Finance Limited (PNBHFL) has reported a 19 per cent decline in net profit for the quarter ended December 31, 2021, at ₹188 crores compared to ₹232 crores recorded in the same quarter in the previous fiscal.
  • 2022-01-20 : PFC and REC Reduce Lending rates
    The State-run PFC and REC have reduced their lending rates across all types of loans by 40 basis points (bps). The move will help power utilities raise loans at cheaper rates. Also, the power sector non-banking financial companies (NBFC) have already been offering short term loans at a 6.25 per cent interest rate.
  • 2022-01-20 : Union Lenders Approves Reimbursement Amount of ₹974 cr for Pandemic Loan Moratorium.
    The Union Cabinet has approved a sanction of ₹973.74 crores for lenders to reimburse the loan moratorium. Earlier, on March 27, 2020, the Reserve Bank of India (RBI) had announced a loan moratorium on payment of instalments of term loans falling due between March 1 and May 31, 2020, due to the pandemic, which was extended to August 31.
  • 2022-01-19 : Bajaj Home Finance Revises Home Loan Interest Rates
    Bajaj Home Finance has decreased home loan rates, and as a result, you can avail of a home loan at the lowest rates starting at 6.65%.
*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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