SBI Vs HDFC Home Loan: Which Bank Offers Lower EMIs On A ₹40 Lakh Loan Over 25 Years? Daily Udaipur

If you’re planning to take a home loan, this comparison between SBI and HDFC could save you lakhs. Home loans are long-term financial commitments, and even a small difference in interest rates can significantly impact the total repayment. Between SBI and HDFC, State Bank of India (SBI) currently offers lower home loan interest rates. Here’s a detailed breakdown of the interest rates and EMI amounts for a ₹40 lakh loan over 25 years from both banks.

sbi home loan rate cut how much you will save on emi for rs 20 lakh to rs 1 crore loans

SBI Home Loan Interest Rates

India’s largest lender, SBI, is offering home loans at interest rates ranging from 7.50% to 8.45%. If you’re opting for a top-up loan, the rates are slightly higher, ranging between 8% and 10.50%. For customers availing YONO Insta Home Top-Up Loan, the interest rate is fixed at 8.35%.

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HDFC Home Loan Interest Rates

HDFC Bank offers two categories of home loan interest rates: Special Housing Rates and Standard Housing Rates.

Special Housing Loans come with rates ranging from 8.15% to 9.20%.
Standard Housing Loans carry slightly higher rates, from 8.75% to 9.60%.

EMI on ₹40 Lakh Home Loan from SBI

If you borrow ₹40 lakh from SBI for 25 years at the minimum interest rate of 7.50%, your monthly EMI will be approximately ₹29,560. Over the 25-year tenure, you’ll repay a total of around ₹88,67,894, of which ₹48,67,894 will be the interest.

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EMI on ₹40 Lakh Home Loan from HDFC

For the same ₹40 lakh loan from HDFC over 25 years at a minimum interest rate of 8.15%, your EMI will be around ₹31,271. Over the loan period, your total interest outgo will be ₹53,81,351.

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Kuldeep Singh Chundawat: My name is Kuldeep Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.