| Category | SBI Home Loan | HDFC Home Loan |
| Purpose | SBI home loans can be used to purchase an already-built house or an under-construction property. There are multiple home loan schemes that can be used for home renovation, improvement or extension. | HDFC Ltd. housing loans can be availed for buying a new flat, ready to move-in house, or plot from MHADA, DDA, etc. The loan can also be used for home construction, extension and renovation. |
| Eligible Profiles | Resident and Non-Resident Salaried and Self-Employed Individuals | Resident and Non-Resident Salaried and Self-Employed Individuals |
| Age Criteria | Minimum: 18 years Maximum: 75 years |
Minimum: 18 years Maximum: 65 years |
| Loan Amount | Up to Rs.10 crore or Up to 90% of property value |
Up to Rs.10 crore or Up to 90% of property value |
| Loan Tenure | Up to 30 years | Up to 30 years |
| Rate of Interest | 7.90% onwards | 8.00% onwards |
| Processing fee | 0.35% – 0.50% of the loan amount, subject to a minimum of Rs. 2,000 and a maximum of Rs. 10,000 plus applicable taxes | Up to 0.50% of the loan amount or Rs.3,000 (whichever is higher) |
| Prepayment charges | No prepayment charges for floating rates | No prepayment charges for floating rates |
| Features & Benefits | ● Concession of 5 basis points on SBI home loan rates for women borrowers ● No prepayment penalty on floating rate home loans ● Availability of Top-up, overdraft and balance transfer facilities ● No hidden charges ● Attractive Tax benefits ● Interest charges on daily reducing balance |
● Interest rate concession to women borrowers ● Multiple loan repayment options to suit customers’ needs ● Easy and quick documentation process ● No hidden charges ● Attractive Tax benefits ● Availability of Top-up, overdraft and balance transfer facilities |
| Documents Required | ● Completed SBI home loan application form ● Three passport size photographs ● Employer Identity Card (for salaried applicants) ● Proof of Identity ● Proof of Residence ● Property Documents ● Account Statement: Last 6 months’ bank account statements and loan account statement of last one year (if applicable) ● Proof of Income (For Salaried): Salary Slip/ Salary Certificate of last 3 months and a copy of Form 16 for last 2 years/ copy of IT Returns for last 2 financial years, acknowledged by IT Dept. ● Proof of Income (For Non-Salaried): Business address proof, IT returns for last 3 years, Balance Sheet & Profit & Loss A/c for last 3 years, Business License Details(or equivalent), TDS Certificate (Form 16A, if applicable) and Certificate of qualification (for C.A./ Doctor and other professionals) |
● Completed HDFC home loan application form ● Three passport size photographs ● Employer Identity Card (for salaried applicants) ● Proof of Identity ● Proof of Residence ● Property Documents ● Account Statement: Last 6 months’ bank account statements and loan account statement of last one year (if applicable) ● Proof of Income (For Salaried): ○ Last 3 months’ Salary Slips ○ Last 6 months’ Bank Statements, showing salary credits ○ Latest Form-16 and IT returns ● Proof of Income (For Non-Salaried): ○ CA-attested Income Tax Returns (ITR) along with the calculation of income for the last 3 Assessment Years. ○ CA-attested Balance Sheet and Profit & Loss Account Statements of the last 3 years along with Annexures / Schedules. ○ Last 6 months’ Current Account Statements of the business entity and Savings Account Statements of the individual |
| Home Loan Schemes | ● Regular SBI Home Loan ● NRI Home Loan ● Flexipay Home Loan ● Privilege Home Loan ● Shaurya Home Loan ● Realty Home Loan ● Home Top Up Loan ● Bridge Home Loan ● Smart Home Top Up Loan ● Insta Home Top Up ● Corporate Home Loan ● Home Loan to Non-Salaried ● Tribal Plus Home Loan ● Earnest Money Deposit (EDM) ● Commercial Real Estate (CRE) Home Loan ● Pradhan Mantri Awas Yojana/CLSS |
● Regular Home Loans ● HDFC Reach Loans ● Plot Loans ● Rural Housing Loans ● Home Improvement Loans ● Home Extension Loans ● Top Up Loans ● Balance Transfer ● Loans for NRI/PIO ● Pradhan Mantri Awas Yojana/CLSS |
| Customer Service | ● Toll-Free Number: 1800 1600 / 1800 2600 ● Email ID: homeloan.complaints@sbi.co.in |
● Missed Call Service: +91-9289200017 ● SMS: HDFCHOME to 56767 |
| How to Apply | ● Follow this link ● Fill the form by providing relevant details like the loan amount, city of the property, tenure, etc. ● On filling all the required details, click on the ‘Proceed’ buttonSoon, a representative from Paisabazaar will contact you on the provided contact number to process your application. |
● Follow this link ● Fill the form by providing relevant details like the loan amount, city of the property, tenure, etc. ● On filling all the required details, click on the ‘Proceed’ button Soon, a representative from Paisabazaar will contact you on the provided contact number to process your application. |
Apply For Home Loan at Attractive Interest Rates Click Here
Taking into account the above facts and figures, both banks provide almost a similar set of services and benefits. To choose one amongst the two, it totally depends on a customer’s preference and how he/she weighs one provider to another.
Comparing multiple providers and then choosing is the ideal approach towards finding the desired home loan. This also helps customers to enhance their product knowledge and stay up-to-date with the current market conditions. Alternatively, to save themselves from such a hassle, customers may:
- Visit the Home Loan page at Paisabazaar.com
- Fill in the necessary information about the loan amount required, the type of home loan required, etc.
- Provide more details regarding your home loan requirements and personal information such as the cost of the property, your full name, date of birth, etc.
- Select the checkbox to agree on the terms and conditions
- Click the ‘Unlock Best Offers’ button to proceed
Best home loan offers according to the applicant’s eligibility will appear. Compare and apply for the best home loan offer as desired.
Apply For Home Loan at Low Interest Rates Click Here