MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹1,000* on Home Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Home Loan - LIC Housing Finance vs IDBI Bank

Download Comparison
Bank
Parameters
Interest Rate
Interest Rate
6.90% - 7.80%
7.40% - 8.00%
Processing Fees
Processing Fees
Min ₹ 10,000; Max ₹ 15,000
Upto 0.50%
Min ₹ 2,500;
Maximum Loan Amount
Maximum Loan Amount
₹ 15 Cr
₹ 10 Cr
Maximum Tenure
Maximum Tenure
30 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 659
₹ 692
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
PLR
RLLR
Minimum Age
Minimum Age
21 Years
25 Years
Maximum Age
Maximum Age
65 Years
70 Years
For Women
For Women
N
N
Overdraft Facility
Overdraft Facility
N
Y - Home Loan Interest Saver
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.8/5.0
4.3/5.0
Add Bank

Compare EMI of LIC Housing Finance and IDBI Bank Home Loan

Loan Amount LIC Housing Finance IDBI Bank
₹ 10 Lakh ₹ 6,586 ₹ 6,924
₹ 25 Lakh ₹ 16,465 ₹ 17,310
₹ 30 Lakh ₹ 19,758 ₹ 20,771
₹ 50 Lakh ₹ 32,930 ₹ 34,619

Which is a better bank for Home Loan – LIC Housing Finance or IDBI Bank?

LIC Housing Finance offers lower Home Loan EMI at ₹ 659 on a Home Loan for 30 Years as compared to IDBI Bank with a minimum EMI of ₹ 692 for 30 Years. Average customer ratings for LIC Housing Finance is currently at 3.8/5.0 which makes it a good choice for taking a Home Loan.

How does LIC Housing Finance Home Loan compare with IDBI Bank Home Loan?

It is important to do a detailed comparison of LIC Housing Finance and Home Loan on all loan terms and conditions to understand their differences and take an informed decision. Keep in mind that each bank’s scheme has its own 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 LIC Housing Finance Home Loan is 6.90%, which is lower than the lowest interest rate of IDBI Bank at 7.40% and hence, LIC Housing Finance is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, LIC Housing Finance charges a lower processing fees of Nil vs IDBI Bank with a processing fees of 0.50% of loan amount.
  • IDBI Bank has a maximum processing fee of ₹ 2,500 compared to LIC Housing Finance with higher processing fees of ₹ 15,000. Hence, customers looking for a higher loan amount will get a benefit on processing fees by opting for IDBI Bank.
  • IDBI Bank is a Public Sector Bank with its Home Loan rates benchmarked to RLLR. LIC Housing Finance is a HFC with its home loan rates benchmarked to PLR.
  • IDBI Bank has an average customer ratings of 4.3, while LIC Housing Finance has an average customer rating of 3.8, based on which it is clear that IDBI Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.
  • 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 lower interest rate on Home Loan – LIC Housing Finance or IDBI Bank?

As per the current rates, LIC Housing Finance offers a lower interest rate of 6.90% on Home Loan when compared to IDBI Bank which offers a Home Loan at 7.40%.

Popular Housing Loans Tools

Popular Search for LIC Housing Finance Home Loan

Popular Search for IDBI Bank Home Loan

Compare LIC Housing Finance Home Loan With Other Banks

Compare IDBI Bank Home Loan With Other Banks

Check Pradhan Mantri Awas Yojana Scheme

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Home Loan News - Jun 2021
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
  • 2021-06-09 : Growth of upto 18% expected by IIFL Home Finance on loans
    IIFL Home Finance expects a growth on its loan book which includes Home loans and Loan against property of upto 18%.
  • 2021-06-09 : IIFL Home Finance signs MOU with Central bank of India
    IIFL Home Finance signed a MOU with Central bank of India for co-lending. The Central bank will be providing 80% of the loan amount of IIFL.
  • 2021-06-08 : The Central Bank of India joined hands with Indiabulls Housing to provide Home Loans
    On monday, the Central bank of India and Indiabulls Housing Finance Limited entered into a partnership to provide Home Loans under priority sector at competitive prices that will lead to a greater disbursement of Housing loans by both the entities.
  • 2021-06-03 : Sundaram Home Finance revised its home loan rates
    With effect from 1 June 2020, Sundaram Home Finance revised its home loans rates. The new home loan rates start from 6.95%
*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
Loader
Please wait while your information is being processed...