LIC home loan vs SBI home loan – Instant Quotes 2024
Compare LIC home loan and SBI Home loan on the basis of interest rates, eligibility, loan amount, processing fees, status, process time, sanction loan, prepayment charges etc.
LIC housing finance trust come from Life Insurance Corporation of India where as State Bank is regarded the best bank for its loan schemes.
So when you are deciding about a Home loan and have the choice of the both, you still need to take decision.
Interest Rates Comparison of SBI & LIC Housing
|
Bank |
Interest rates |
Processing Fees |
|
LIC Housing Finance |
8.50% – 10.50% |
Up to 50 lacs : 10,000 +(Service tax) 50 lacs & above : 15,000 +(service tax) |
|
SBI Home Loan |
8.50 – 10.05% |
Check on SBI Home Loan Page |
Decision Based on Service.
- In Indian context both these institutions are considered to lag on the service side.
- To get a fast approval for the home loan in among these two, you have to get a personal rapport among the staff or need to know someone.
LIC Home loan has a large sales force in terms of LIC Agents where as State Bank has a large set of branches which help them to do more business.
