Best bank for Home Loan

[Babba]

I want to take a Home loan of around 50-60 Lakhs.
I have salary account in HDFC bank and savings account in SBI. Which bank is good for Home loan if we compare all aspects???

 

[anuragmukherjee28]

For 50–60L home loan, honestly “best bank” depends on rate + service + flexibility. Since you already have accounts in HDFC and SBI, both are solid options. Simple comparison:

• SBI: Usually slightly lower interest rates, low processing fee during offers, transparent pricing. Good for long-term loans. But processing can be a bit slow.
• HDFC Bank: Fast processing, smoother documentation (especially if salary account is there), good service. Rate may be slightly higher sometimes.

Before deciding, compare the final interest rate offered to you (not just the website rate), along with the processing fee and other charges like legal and valuation fees. Also check the prepayment and foreclosure rules, most floating rate loans don’t have penalties, but it’s good to confirm. Finally, consider how fast the bank processes and disburses the loan, especially if you’re working with a property purchase timeline.

My suggestion: Apply to both, get sanction letter, and negotiate. Even 0.10–0.20% lower rate makes big difference over 20 years whichever gives better effective rate + smoother experience, go with that

 

[smithjones742]

I think saraswat, I have existing loan with them.

 

[prashantmodi21]

I think you should look for union and canara bank. As they offer most cheapest loans

 

[Skylar]

Go for SBI if you want to save the most money. Their interest rates are usually the lowest and they don’t have those annoying hidden admin fees. Plus, they calculate interest on a daily reducing balance.

But they’re slow and the paperwork can be a headache. We had to visit the branch multiple times even with salary account in SBI and Being a central government employee.

Go for HDFC if you’re in a hurry and want a smooth process. Since your salary goes there, they’ll probably fast-track you with a pre-approved deal and way less paperwork. But you’ll likely pay a slightly higher rate and higher processing fees compared to SBI. SBI is smarter option you can also consider Union, Canara, BOB or BOM and compare the rates as they are offering competitive interest rates than the giants like SBI and HDFC to attract more costumers.