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Compare Indian Bank vs IDBI Bank Home Loan

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Bank
Interest Rate
Interest Rate
7.55% - 7.85%
6.75% - 8.40%
Processing Fees
Processing Fees
Upto 0.23%
Max ₹ 20,381
Upto 0.50%
Min ₹ 2,500;
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 10 Cr
Maximum Tenure
Maximum Tenure
20 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 809
₹ 649
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
RLLR
Minimum Age
Minimum Age
18 Years
25 Years
Maximum Age
Maximum Age
60 Years
70 Years
For Women
For Women
Y
N
Overdraft Facility
Overdraft Facility
N
Y - Home Loan Interest Saver
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3/5.0
4.3/5.0
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Compare Home Loan EMI of Indian Bank and IDBI Bank

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

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

IDBI 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 IDBI Bank is currently at 4.3/5.0 which makes it a good choice for taking a Home Loan.

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

It is important to do a detailed comparison of IDBI 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 IDBI Bank Home Loan is 6.75%, which is lower than the lowest interest rate of Indian Bank at 7.55% and hence, IDBI Bank is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, Indian Bank charges a lower processing fees of 0.23% of the loan amount 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. 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.
  • IDBI Bank has an average customer ratings of 4.3, while Indian Bank has an average customer rating of 3, based on which it is clear that IDBI Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.
  • Indian Bank 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 Indian Bank.
  • 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 – IDBI Bank or Indian Bank?

As per the current rates, IDBI 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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    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.
*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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