SBI offers home loan EMI starting from Rs. 645 for a tenure of 30 years as compared to IDBI Bank which offers home loan EMI of Rs. 662 for the same loan tenure. When it comes to average customer ratings, SBI currently stands at 4.2/5.0 and is, therefore, a good choice for home loan borrowers.

How does SBI home loan compare to IDBI home loan?

Here are some comparison points between the home loans offered by the two banks:

  • SBI home loan interest rates range around 6.70%, which is one of the lowest offerings. IDBI Bank offers an interest rate of 6.95% on home loans.
  • SBI has lower processing fees of 0.40% of the total loan amount vs IDBI bank which has processing fees of 0.50% of the total loan amount. However, IDBI bank has set a maximum processing fee cap of Rs. 2,500. In contrast, SBI processing fees could go up to Rs. 10,000. Hence, customers seeking a higher loan amount can benefit from the lower processing fees of IDBI Bank.
  • SBI offers special discounted interest rates on home loan schemes for women. IDBI bank currently doesn’t offer such schemes for women. Thus, women borrowers prefer to borrow from SBI banks.
  • Both SBI and IDBI offer unique overdraft facility which is popular among high salaried and business customers who apply for home loans.

Both SBI and IDBI enjoy a wide customer base since each has a long-standing history of customer service and attractive home loan features. Depending on individual requirements, one can opt for a home loan from either of the banks.