Help me choose Home Loan Bank

[hackymanoj]

Hello Everyone,
Can you please help me which one I can choose for home loan hdfc or BOB? Below is the comparison.

HDFC Bank – Home Loan Details

Interest rate: 7.50% (floating)

Processing fee: ₹1,500

CIBIL score: 786 (qualifies for preferred rate slab)

Loan-to-Value (LTV): Confirmed 90%

Full EMI on part disbursed amount: Not confirmed, likely Pre-EMI during construction

Part-payment policy:

Not allowed during the first 6 months

After 6 months, minimum part-payment must be at least 3 times the EMI


Rate revision (conversion) allowed after disbursement on request with a nominal fee

Imperia program eligibility:

20% of ₹1.4 crore loan = ₹28 lakhs contributes to TRV

Additional savings or investments can help reach Imperia threshold


Project is approved, simplifying documentation and disbursal

Faster processing, better digital infrastructure and customer support



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Bank of Baroda – Home Loan Details

Interest rate: 7.65% (floating)

Fee: No processing fee, only ₹4,500 login fee

CIBIL score: 786 (likely qualifies for current offer)

Loan-to-Value (LTV): Confirmed 90%

Full EMI on part disbursed amount: Allowed from day one

Part-payment policy:

Allowed from day one

No minimum amount requirement


Rate revision allowed in future based on repo movement or improved CIBIL

Project is approved, enabling faster processing

No premium banking program like HDFC Imperia

Slightly slower customer service and manual processes compared to HDFC

 

[nikhilv0303]

Use BOB Max gain home loan, best loan available in the market. Don't fall in the trap of imperia etc from HDFC.
You will save intrest which is huge by keeping the fund in saving account. And more money will go towards principal which reduces your loan liability.

Absolutely second that. I did all calculations and went with this even with a slightly higher interest rate. It makes a lot of sense as I typically have average balance almost similar to my monthly salary in savings account.

 

[prankster]

Absolutely second that. I did all calculations and went with this even with a slightly higher interest rate. It makes a lot of sense as I typically have average balance almost similar to my monthly salary in savings account.

What interest rate did you finally get?

 

[NishanthSN]

In hdfc can u say no for insurance ? I have term insurance from Bajaj.