Which Home Loan Is Better SBI Or LIC?

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 16 Lakh₹ 14,159₹ 12,166₹ 20 Lakh₹ 17,698₹ 15,207₹ 25 Lakh₹ 22,123₹ 19,009₹ 30 Lakh₹ 26,547₹ 22,8111 more row.

How much loan I can get if my salary is 25000?

The take-home salary will determine the EMI amount you can afford and thus the total loan amount you can borrow. For instance, if your take-home salary is Rs. 25,000, you can avail as much as Rs. 18.64 lakh as a loan to purchase a home worth Rs.

Is SBI good for home loan?

SBI is a large public sector bank with the lowest home loan percent rate in India. Currently, the bank offers home loans at an interest rate beginning from 6.80% and charges a low processing fee starting from Upto 0.20%, Minimum ₹ 4,000 and Maximum ₹ 17,400. The floating rate home loan from SBI is a RLLR linked loan.

How can I change my home loan from SBI to LIC?

Migration from LICHFL to SBI MAXGAINOutstanding Balance statement from LICHFL Original.Last one-year payment statement Original.List of documents Original.Registration Papers Xerox copy was given to LICHFL and other documents supporting the previous owners of the said plot/ property.More items…•

What are the documents required for home loan in LIC?

LIC HFL Home Loans Documents RequiredDuly filled in home loan application form.Proof of Identity such as Aadhaar Card, PAN Card, Voter’s ID Card or Passport.Proof of Residence such as Passport, Ration Card, Electricity Bill or Telephone Bill.Bank Passbook or bank account statements of last two years.More items…•

Which bank home loan is better?

30 lakh and 7.00% p.a. for home loans above Rs….Home Loan Interest Rate of all Banks 2021.BanksInterest Rate (p.a.)Processing FeesKotak Mahindra Bank6.75%0.50%Citibank6.75%Rs. 10,000Union Bank of India6.80%*Rs. 5,000 – Rs. 15,000Bank of Baroda6.85%Rs. 8,500 – Rs. 25,00042 more rows

Can I transfer my home loan from HDFC to SBI?

SBI offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrower’s employers if they are Central/State Govt or their undertakings or Public …

What is SBI home loan rate?

SBI Regular Home Loan Interest Rates 2021Home LoanSalariedNon SalariedUpto 30 Lakh6.95% – 7.00%7.10% – 7.15%Above 30 lakh to 75 Lakh7.20% – 7.25%7.35% – 7.40%Above 75 Lakh7.30% – 7.35%7.45% – 7.50%

What is the EMI for 30 lakhs home loan?

Banks which are offering 30 Lakh home loan amount at 8.00% rate of interest….Emi Calculated on 8.00%.Monthly Payment (EMI)Total Interest Payable in 20 yearsTotal Payment (Principal + Interest) after 20 years for 30 Lakh of loan amountRs.25093Rs.3022368Rs.6022368

How much home loan can I get if my salary is 40000?

Here taking a salary as ₹ 40k, & without any fixed monthly obligation, you can pay a maximum of ₹ 20,000 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 23,83,366 using a home loan eligibility calculator (assuming 3 household members).

How can I reduce my Lichfl home loan rate?

Well, you can easily opt for the LIC HFL Home Loan Balance Transfer Facility at a lower interest rate. This can help reduce monthly repayment amount. Both Salaried and Self-employed individuals can opt for this facility in a hassle-free manner. To opt for this facility, your CIBIL score must be good (700 and above).

What is the EMI for 20 lakhs home loan for 10 years?

EMI Calculated on 8.00% Rate of Interest….EMI Calculation for 20 Lakh Home Loan amount for Various Tenure Options:Tenure OptionsEMI Per Month10 YearsRs.2426015 YearsRs.1912020 YearsRs.167203 more rows

How much loan can I get if my salary is 1 lakh?

Home LoanBanksMinimum Income CriteriaMaximum Loan AmountLIC HFLFor Salaried: ₹15,000 per month For Self-employed: ₹2,00,000 per annumMinimum ₹1 lakh to 85% of total cost of the propertyState Bank of India (SBI)For Salaried: ₹1,20,000 (p.a.) For Self-employed: ₹2,00,000 (p.a.)Up to ₹2 crores3 more rows

Does LIC give home loans?

LIC Housing Finance offers Home Loans with loan tenure upto 30 years, and the lowest EMI offered by the bank is ₹ 659 per lakh. The Lowest Rate of interest offered by LIC Housing Finance on Home Loan is 6.90% and is one of the most popular housing loans in India.

Who is eligible for SBI home loan?

SBI Home Loan Eligibility in India 2021Eligibility CriteriaSBI Home LoanMinimum Eligible Income₹ 25,000 and aboveWork Experience for Salaried2 yearsBusiness Stability for Self Employed5 yearsLoan Amount Eligibility₹ 25 Lakh to ₹ 7 Cr4 more rows

How much home loan can I get on 35000 salary?

If you are taking a home loan for 35,000 salary, you can get a maximum loan amount of Rs. 20,16,481 at say an 8.5% interest rate for a tenure of 20 years. In this situation, the home loan EMI amount you would pay is not more than Rs. 17,500.

How much home loan can I get from LIC?

LIC Housing Finance Home Loan Eligibility in India 2021Eligibility CriteriaLIC Housing Finance Home LoanWork Experience for Salaried2 yearsBusiness Stability for Self Employed2 yearsLoan Amount Eligibility₹ 15 Lakh to ₹ 15 CrMaximum loan as percent of property valueUpto 80%4 more rows•Oct 16, 2020

What is the minimum salary for home loan?

₹25,000 per monthThe applicant’s age should be minimum 24 years and maximum 60 years at the time of applying for a home loan if the applicant is a salaried employee. Salaried applicants should have a minimum monthly income of ₹25,000 per month in a metro city, and a minimum monthly income of ₹20,000 in other cities.