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Compare Kotak Bank vs SBI Home Loan

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Interest Rate
Interest Rate
7.99% - 8.50%
8.05% - 8.55%
Processing Fees
Processing Fees
Upto 0.50%
Max ₹ 10,000
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 7 Cr
Maximum Tenure
Maximum Tenure
20 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 836
₹ 737
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
Minimum Age
Minimum Age
21 Years
18 Years
Maximum Age
Maximum Age
65 Years
70 Years
For Women
For Women
Overdraft Facility
Overdraft Facility
Y - SBI Maxgain
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Home Loan EMI of Kotak Bank and SBI

Loan Amount Kotak Bank SBI
₹ 10 Lakh ₹ 8,358 ₹ 7,373
₹ 25 Lakh ₹ 20,895 ₹ 18,431
₹ 30 Lakh ₹ 25,075 ₹ 22,118
₹ 50 Lakh ₹ 41,791 ₹ 36,863

Which is a better bank for Home Loan – Kotak Bank or SBI?

SBI offers lower Home Loan EMI at ₹ 737 on a Home Loan for 30 Years as compared to Kotak Bank with a minimum EMI of ₹ 836 for 20 Years. Average customer ratings for SBI is currently at 4.2/5.0 which makes it a good choice for taking a Home Loan.

How does Kotak Bank Home Loan compare with SBI Home Loan?

It is important to do a detailed comparison of Kotak Bank and SBI 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 Kotak Bank Home Loan is 7.99%, which is lower than the lowest interest rate of SBI at 8.05% and hence, Kotak Bank is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, SBI charges a lower processing fees of Nil vs Kotak Bank with a processing fees of 0.50% of loan amount.
  • Kotak Bank is a with its Home Loan rates benchmarked to RLLR. On the other hand, SBI 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.
  • Kotak Bank has an average customer ratings of 4.7, while SBI has an average customer rating of 4.2, based on which it is clear that Kotak Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.
  • SBI offers special discounted rate Home Loan schemes for women, while Kotak Bank currently doesn’t have such schemes for women. Hence, women borrowers should consider SBI.
  • One unique feature of SBI 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 – Kotak Bank or SBI?

As per the current rates, Kotak Bank offers a lower interest rate of 7.99% on Home Loan when compared to SBI which offers a Home Loan at 8.05%.

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Home Loan News - Oct 2022
  • 2022-09-12 : Indian Overseas Bank raises MCLR rates by up to 0.10%
    Indian Overseas Bank has revised upwards the MCLR rates by 0.10 per cent across tenors. The benchmark 1-year tenor marginal cost of funds based lending rate (MCLR) has been revised to 7.75 per cent against the existing rate of 7.65 per cent. The two and three-year MCLRs have been hiked by a similar margin to 7.80 per cent each.
  • 2022-09-12 : HDFC Bank slashes home loan processing fee by 75% for govt staff
    The largest private sector lender has rolled out a special offer for the government employees. HDFC Bank is offering 75 percent off on home loans’ processing fee for government employees. Customers can avail the offer for home loans up to Rs 50 lakh. The discount is available only for government employees with a credit score of 800 and above.
  • 2022-09-12 : Union Bank of India hikes interest rates - home, car EMIs set to rise
    Union Bank of India has increased its marginal cost-based lending rate (MCLR) in the range of 0.05 per cent to 0.35 per cent, which would make the loans from the bank more expensive. MCLR rates for overnight and one-month tenures to 7.00 per cent and 7.15 per cent, thus increasing them by 5 bps. For the three-month tenure, the rates are the same as before and are at 7.25 per cent.
  • 2022-09-09 : HDFC Bank to introduce 10-second personal loan service
    India’s largest private sector lender HDFC Bank is aiming at introducing the 10-seconds loan service for everyone including those who do not have an account with the bank. The bank has been a paradigm pioneer in 10-second loans for existing customers and has been able to deliver this over the past six years.
  • 2022-08-26 : Axis Bank hikes MCLR: Home loan, Car loan EMIs to rise.
    With the latest rise in MCLR rates, the overnight and one-month MCLR rate of Axis Bank now stands at 7.85 per cent. It was 7.80 per cent before this. The MCLR for three months, has been hiked to 7.95 per cent from 7.90 per cent, while for six months Axis Bank MCLR rate has been increased from 7.95 per cent to 8.00 per cent.
*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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