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Compare OBC vs South Indian Bank Home Loan

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Bank
Interest Rate
Interest Rate
8.25% - 8.80%
8.75% - 8.75%
Processing Fees
Processing Fees
Upto 0.50%
Max ₹ 20,000
Upto 1.00%
Max ₹ 10,000
Maximum Loan Amount
Maximum Loan Amount
₹ 3 Cr
₹ 5 Cr
Maximum Tenure
Maximum Tenure
25 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 788
₹ 787
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
RLLR
Minimum Age
Minimum Age
18 Years
21 Years
Maximum Age
Maximum Age
60 Years
65 Years
For Women
For Women
N
N
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
2.5/5.0
3/5.0
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Compare Home Loan EMI of OBC and South Indian Bank

Loan Amount OBC South Indian Bank
₹ 10 Lakh ₹ 7,884 ₹ 7,867
₹ 25 Lakh ₹ 19,711 ₹ 19,668
₹ 30 Lakh ₹ 23,654 ₹ 23,601
₹ 50 Lakh ₹ 39,423 ₹ 39,335

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

South Indian Bank offers lower Home Loan EMI at ₹ 787 on a Home Loan for 30 Years as compared to OBC with a minimum EMI of ₹ 788 for 25 Years. Average customer ratings for South Indian Bank is currently at 3/5.0 which makes it a good choice for taking a Home Loan.

How does OBC Home Loan compare with South Indian Bank Home Loan?

It is important to do a detailed comparison of OBC and South 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 OBC Home Loan is 8.25%, which is lower than the lowest interest rate of South Indian Bank at 8.75% and hence, OBC is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, OBC charges a lower processing fees of 0.50% of the loan amount vs South Indian Bank with a processing fees of 1.00% of loan amount.
  • OBC is a with its Home Loan rates benchmarked to RLLR. On the other hand, South 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.
  • South Indian Bank has an average customer ratings of 3, while OBC has an average customer rating of 2.5, based on which it is clear that South Indian Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.

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

As per the current rates, OBC offers a lower interest rate of 8.25% on Home Loan when compared to South Indian Bank which offers a Home Loan at 8.75%.

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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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