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Compare SBI vs Lakshmi Vilas Bank Home Loan

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Interest Rate
Interest Rate
7.55% - 8.05%
8.55% - 8.55%
Processing Fees
Processing Fees
Upto 0.40%
Min ₹ 10,000; Max ₹ 20,000
Maximum Loan Amount
Maximum Loan Amount
₹ 7 Cr
₹ 5 Cr
Maximum Tenure
Maximum Tenure
30 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 703
₹ 871
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
Minimum Age
Minimum Age
18 Years
21 Years
Maximum Age
Maximum Age
70 Years
65 Years
For Women
For Women
Overdraft Facility
Overdraft Facility
Y - SBI Maxgain
Y - OD
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Home Loan EMI of SBI and Lakshmi Vilas Bank

Loan Amount SBI Lakshmi Vilas Bank
₹ 10 Lakh ₹ 7,026 ₹ 8,710
₹ 25 Lakh ₹ 17,566 ₹ 21,775
₹ 30 Lakh ₹ 21,079 ₹ 26,130
₹ 50 Lakh ₹ 35,132 ₹ 43,550

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

SBI offers lower Home Loan EMI at ₹ 703 on a Home Loan for 30 Years as compared to Lakshmi Vilas Bank with a minimum EMI of ₹ 871 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 SBI Home Loan compare with Lakshmi Vilas Bank Home Loan?

It is important to do a detailed comparison of SBI and Lakshmi Vilas 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 SBI Home Loan is 7.55%, which is lower than the lowest interest rate of Lakshmi Vilas Bank at 8.55% and hence, SBI 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 Lakshmi Vilas Bank with a processing fees of 0.40% of loan amount.
  • Lakshmi Vilas 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.
  • Lakshmi Vilas Bank with an average customer ratings of 4.2 is equally comparable to SBI with an average customer rating of 4.2, and hence, the customer can expect the same kind of service levels from these banks.
  • SBI offers special discounted rate Home Loan schemes for women, while Lakshmi Vilas Bank currently doesn’t have such schemes for women. Hence, women borrowers should consider SBI.
  • One unique feature overdraft facility, which is nowadays a popular facility demanded by high salaried and business customers, and is offered by Lakshmi Vilas Bank and SBI.

Which bank offers a lower interest rate on Home Loan – SBI or Lakshmi Vilas Bank?

As per the current rates, SBI offers a lower interest rate of 7.55% on Home Loan when compared to Lakshmi Vilas Bank which offers a Home Loan at 8.55%.

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Home Loan News - Aug 2022
  • 2022-08-09 : HDFC hikes MCRL by upto 10 bps on all loan tenures.
    With the effect of the 50bps hike by RBI in key policy rates, private sector lender HDFC increased its marginal cost of funds-based lending rates on loans across all tenures by upto 10 basis points. The one-year MCLR will now be 8.10% compared to 8.00% previously.
  • 2022-08-09 : Hike in lending rate by 25 basis points, home loans to be costlier.
    HDFC ltd. announced an increase in its benchmark lending rate by 25 basis points, a move that is likely to make loans dearer for both existing and new borrowers. The best home loans will be available at 7.8% compared to 7.55% previously. The move came after the RBI hiked the lending rate by 50 bps to 5.40% in its effort to cool down rising inflation.
  • 2022-07-22 : SBI hikes lending rates, loan EMIs to rise.
    Increase in SBI’s Marginal Cost Lending Rates on loans by 10 basis points. The new lending rates will come into effect from 15th July 2022. For one year tenure, MCLR increased to 7.5% from the current 7.4%, and retail loans for cars, houses, or personal loans tend to go higher, affecting monthly loan installments.
  • 2022-06-16 : Maharashtra Government Revises Income Slabs
    The annual income slab for the economically weaker section (EWS) has been increased to Rs 6 lakh, and Rs 4.5 lakh for those residing in Mumbai, Pune, and Nagpur Metropolitan Region and the rest of the state respectively.
  • 2022-06-16 : SBI Increases Lowest Interest Rates for Home Loans
    The bank has raised minimum rate for home loans to 7.55% two weeks after the increase of Repo Rate.
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