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Compare Standard Chartered Bank vs Karnataka Bank Home Loan

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Bank
Interest Rate
Interest Rate
6.99% - 12.00%
8.55% - 9.50%
Processing Fees
Processing Fees
Upto 1.00%
Min ₹ 5,000; Max ₹ 10,000
Upto 0.25%
Min ₹ 250;
Maximum Loan Amount
Maximum Loan Amount
₹ 15 Cr
₹ 5 Cr
Maximum Tenure
Maximum Tenure
20 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 775
₹ 772
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
3_month MCLR
RLLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
For Women
For Women
Y
N
Overdraft Facility
Overdraft Facility
Y - Home Saver
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.8/5.0
4.8/5.0
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Compare Home Loan EMI of Standard Chartered Bank and Karnataka Bank

Loan Amount Standard Chartered Bank Karnataka Bank
₹ 10 Lakh ₹ 7,747 ₹ 7,725
₹ 25 Lakh ₹ 19,367 ₹ 19,312
₹ 30 Lakh ₹ 23,241 ₹ 23,174
₹ 50 Lakh ₹ 38,735 ₹ 38,623

Which is a better bank for Home Loan – Standard Chartered Bank or Karnataka Bank?

Karnataka Bank offers lower Home Loan EMI at ₹ 772 on a Home Loan for 30 Years as compared to Standard Chartered Bank with a minimum EMI of ₹ 775 for 20 Years. Average customer ratings for Karnataka Bank is currently at 4.8/5.0 which makes it a good choice for taking a Home Loan.

How does Standard Chartered Bank Home Loan compare with Karnataka Bank Home Loan?

It is important to do a detailed comparison of Standard Chartered Bank and Karnataka 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 Standard Chartered Bank Home Loan is 6.99%, which is lower than the lowest interest rate of Karnataka Bank at 8.55% and hence, Standard Chartered Bank is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, Karnataka Bank charges a lower processing fees of 0.25% of the loan amount vs Standard Chartered Bank with a processing fees of 1.00% of loan amount.
  • Karnataka Bank is a with its Home Loan rates benchmarked to RLLR. Standard Chartered Bank is a with its home loan rates benchmarked to MCLR.
  • Karnataka Bank with an average customer ratings of 4.8 is equally comparable to Standard Chartered Bank with an average customer rating of 4.8, and hence, the customer can expect the same kind of service levels from these banks.
  • Standard Chartered Bank offers special discounted rate Home Loan schemes for women, while Karnataka Bank currently doesn’t have such schemes for women. Hence, women borrowers should consider Standard Chartered Bank.
  • One unique feature of Standard Chartered 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 a lower interest rate on Home Loan – Standard Chartered Bank or Karnataka Bank?

As per the current rates, Standard Chartered Bank offers a lower interest rate of 6.99% on Home Loan when compared to Karnataka Bank which offers a Home Loan at 8.55%.

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Home Loan News - Jun 2022
  • 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.
  • 2022-05-24 : Home Buyers Welcome the Decision to Extend the PMAY Scheme
    The Central Government has extended the PMAY Scheme-Urban till September 2022 in Maharashtra.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
*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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