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Compare ICICI Bank vs Indian Bank Home Loan

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Bank
Interest Rate
Interest Rate
6.75% - 11.35%
7.55% - 7.85%
Processing Fees
Processing Fees
Min ₹ 3,000;
Upto 0.23%
Max ₹ 20,381
Maximum Loan Amount
Maximum Loan Amount
₹ 7 Cr
₹ 5 Cr
Maximum Tenure
Maximum Tenure
30 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 649
₹ 809
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
18 Years
Maximum Age
Maximum Age
65 Years
60 Years
For Women
For Women
Y
Y
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.1/5.0
3/5.0
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Compare Home Loan EMI of ICICI Bank and Indian Bank

Loan Amount ICICI Bank Indian Bank
₹ 10 Lakh ₹ 6,486 ₹ 8,087
₹ 25 Lakh ₹ 16,215 ₹ 20,216
₹ 30 Lakh ₹ 19,458 ₹ 24,260
₹ 50 Lakh ₹ 32,430 ₹ 40,433

Which is a better bank for Home Loan – ICICI Bank or Indian Bank?

ICICI Bank offers lower Home Loan EMI at ₹ 649 on a Home Loan for 30 Years as compared to Indian Bank with a minimum EMI of ₹ 809 for 20 Years. Average customer ratings for ICICI Bank is currently at 4.1/5.0 which makes it a good choice for taking a Home Loan.

How does ICICI Bank Home Loan compare with Indian Bank Home Loan?

It is important to do a detailed comparison of ICICI Bank and Indian 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 ICICI Bank Home Loan is 6.75%, which is lower than the lowest interest rate of Indian Bank at 7.55% and hence, ICICI Bank is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, ICICI Bank charges a lower processing fees of Nil vs Indian Bank with a processing fees of 0.23% of loan amount.
  • ICICI Bank is a with its Home Loan rates benchmarked to RLLR. On the other hand, Indian 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.
  • ICICI Bank has an average customer ratings of 4.1, while Indian Bank has an average customer rating of 3, based on which it is clear that ICICI Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.
  • All these banks offer discounted schemes for women and hence, this factor will not be important in making the decision to borrow from ICICI Bank or Indian Bank.

Which bank offers a lower interest rate on Home Loan – ICICI Bank or Indian Bank?

As per the current rates, ICICI Bank offers a lower interest rate of 6.75% on Home Loan when compared to Indian Bank which offers a Home Loan at 7.55%.

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*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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