Compare Home Loan - SBI vs PNB

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Bank	SBI HDFC Citibank Bank of Baroda ICICI Bank Axis Bank PNB Housing Finance LIC Housing Finance Bajaj Home Finance Sundaram Home Finance Kotak Bank Yes Bank Syndicate Bank IDFC First Bank Union Bank of India Lakshmi Vilas Bank Allahabad Bank Andhra Bank Bank of India Bank of Maharashtra Canara Bank Central Bank of India Punjab and Sind Bank UCO Bank Aadhar Housing Finance United Bank of India DBS Bank Tata Capital Home Finance LT Housing Finance Piramal Housing Finance Aavas Financiers IDBI Bank Karur Vysya Bank RBL Bank HSBC Bank Standard Chartered Bank Edelweiss GIC Housing Finance Reliance Capital IIFL Corporation Bank Jammu And Kashmir Bank Indian Bank Indian Overseas Bank OBC Indiabulls DCB Bank Dhan Laxmi Bank Karnataka Bank South Indian Bank Federal Bank	HDFC Citibank Bank of Baroda ICICI Bank Axis Bank PNB Housing Finance LIC Housing Finance Bajaj Home Finance Sundaram Home Finance Kotak Bank Yes Bank Syndicate Bank IDFC First Bank United Bank of India Lakshmi Vilas Bank Allahabad Bank Andhra Bank Bank of India Bank of Maharashtra Canara Bank Central Bank of India Punjab and Sind Bank UCO Bank Union Bank of India DBS Bank Tata Capital Home Finance LT Housing Finance Piramal Housing Finance Aavas Financiers Aadhar Housing Finance Indian Bank Karur Vysya Bank RBL Bank HSBC Bank Standard Chartered Bank Edelweiss GIC Housing Finance Reliance Capital IIFL Corporation Bank IDBI Bank Jammu And Kashmir Bank Indian Overseas Bank OBC PNB Indiabulls DCB Bank Dhan Laxmi Bank Karnataka Bank South Indian Bank Federal Bank
Parameters
Interest Rate	Interest Rate 6.70% - 7.05%	7.35% - 8.80%
Processing Fees	Processing Fees Min ₹ 10,000;	Upto 0.35% Min ₹ 2,500; Max ₹ 15,000
Maximum Loan Amount	Maximum Loan Amount ₹ 7 Cr	₹ 1 Cr
Maximum Tenure	Maximum Tenure 30 Years	30 Years
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 645	₹ 689
Benchmark Rate (Check Rates)	Benchmark Rate (Check Rates) RLLR	RLLR
Minimum Age	Minimum Age 18 Years	21 Years
Maximum Age	Maximum Age 70 Years	65 Years
For Women	For Women Y	N
Overdraft Facility	Overdraft Facility Y - SBI Maxgain	N
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.2/5.0	3.9/5.0

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Compare EMI of SBI and PNB Home Loan

Loan Amount	SBI	PNB
₹ 10 Lakh	₹ 6,453	₹ 6,890
₹ 25 Lakh	₹ 16,132	₹ 17,224
₹ 30 Lakh	₹ 19,358	₹ 20,669
₹ 50 Lakh	₹ 32,264	₹ 34,449

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

SBI offers lower Home Loan EMI at ₹ 645 on a Home Loan for 30 Years as compared to PNB with a minimum EMI of ₹ 689 for 30 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 PNB Home Loan?

It is important to do a detailed comparison of SBI 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 SBI Home Loan is 6.70%, which is lower than the lowest interest rate of PNB at 7.35% 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 PNB with a processing fees of 0.35% of loan amount.
SBI has a maximum processing fee of ₹ 10,000 compared to PNB 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 SBI.
PNB is a Public Sector Bank with its Home Loan rates benchmarked to RLLR. SBI is a Public Sector Bank with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to same rate which make them a comparable option to choose from.
SBI has an average customer ratings of 4.2, while PNB has an average customer rating of 3.9, based on which it is clear that SBI 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 PNB currently doesn’t have such schemes for women. Hence, women borrowers should definitely evaluate 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 lower interest rate on Home Loan – SBI or PNB?

As per the current rates, SBI offers a lower interest rate of 6.70% on Home Loan when compared to PNB which offers a Home Loan at 7.35%.

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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

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