Best Bank for Home Loan

[S_kapsat]

I need a loan of 45 lakhs for a home. Can you tell me which bank is the best for a home loan? Should I go with SBI since they offer a lower interest rate? This is the first time I am taking a loan; should it be floating or fixed?

[Siddarth]

SBI remains the best choice for a ₹45 lakh loan, with rates starting around 7.25%–7.50% for high CIBIL scorers, which is very competitive.

Choose floating rates because fixed rates usually cost more. Floating rates are tied to the RBI's repo rate. If market rates fall later, your interest costs will also decrease.

One more thing: many floating loans don't have foreclosure charges. This gives you the opportunity to pay early and save a significant amount of interest later.