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Compare IDBI Bank vs HDFC Home Loan

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Bank
Interest Rate
Interest Rate
6.75% - 8.40%
6.70% - 8.20%
Processing Fees
Processing Fees
Upto 0.50%
Min ₹ 2,500;
Min ₹ 3,000;
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
₹ 649
₹ 645
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
PLR
Minimum Age
Minimum Age
25 Years
24 Years
Maximum Age
Maximum Age
70 Years
65 Years
For Women
For Women
N
Y
Overdraft Facility
Overdraft Facility
Y - Home Loan Interest Saver
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.3/5.0
4.5/5.0
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Compare Home Loan EMI of IDBI Bank and HDFC

Loan Amount IDBI Bank HDFC
₹ 10 Lakh ₹ 6,486 ₹ 6,453
₹ 25 Lakh ₹ 16,215 ₹ 16,132
₹ 30 Lakh ₹ 19,458 ₹ 19,358
₹ 50 Lakh ₹ 32,430 ₹ 32,264

Which is a better bank for Home Loan – HDFC or IDBI Bank?

HDFC offers lower Home Loan EMI at ₹ 645 on a Home Loan for 30 Years as compared to IDBI Bank with a minimum EMI of ₹ 649 for 30 Years. Average customer ratings for HDFC is currently at 4.5/5.0 which makes it a good choice for taking a Home Loan.

How does HDFC Home Loan compare with IDBI Bank Home Loan?

It is important to do a detailed comparison of HDFC and IDBI 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 HDFC Home Loan is 6.70%, which is lower than the lowest interest rate of IDBI Bank at 6.75% and hence, HDFC is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, HDFC charges a lower processing fees of Nil vs IDBI Bank with a processing fees of 0.50% of loan amount.
  • IDBI Bank is a with its Home Loan rates benchmarked to RLLR. HDFC is a with its home loan rates benchmarked to PLR.
  • HDFC has an average customer ratings of 4.5, while IDBI Bank has an average customer rating of 4.3, based on which it is clear that HDFC has a high customer service focus, an easy Home Loan process and a quick turnaround.
  • HDFC offers special discounted rate Home Loan schemes for women, while IDBI Bank currently doesn’t have such schemes for women. Hence, women borrowers should consider HDFC.
  • One unique feature of IDBI Bank is its overdraft facility which allows borrowers to minimize their interest outgo by paying interest only on the loan amount utilized. This scheme makes it an apt choice for self-employed and businessmen with fluctuating fund requirements.

Which bank offers a lower interest rate on Home Loan – HDFC or IDBI Bank?

As per the current rates, HDFC offers a lower interest rate of 6.70% on Home Loan when compared to IDBI Bank which offers a Home Loan at 6.75%.

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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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