Key facts: Bajaj Finance vs Bank of India vs ICICI Bank home loan
- Starting rate: Bajaj Finance 7.25%, Bank of India 8.40%, ICICI Bank 8.50%. This is the lowest rate each loan provider advertises for a home loan, not the rate everyone is offered.
- Gap between starting rates: 1.25 percentage points between the lowest and the highest.
- Top of the published range: Bajaj Finance up to 20%.
- Maximum tenure: Bajaj Finance 32 years, Bank of India 30 years, ICICI Bank 30 years.
- Type of loan provider: Bajaj Finance is an NBFC; Bank of India is a public sector bank; ICICI Bank is a private bank. Banks and NBFCs price floating rates differently.
- Official websites: bajajfinserv.in, bankofindia.co.in, icici.bank.in.
- Pages checked: 3 official pages opened for this loan type.
- Loan types with a published rate: Bajaj Finance 5, Bank of India 3, ICICI Bank 6 (out of 8 we track).
- EMI on ₹50 lakh over 20 years: Bajaj Finance ₹39,519, Bank of India ₹43,075, ICICI Bank ₹43,391 a month, at each starting rate.
- Total interest on the same loan: Bajaj Finance ₹44,84,512, Bank of India ₹53,38,054, ICICI Bank ₹54,13,879.
- Last checked: 12 October 2026, on each loan provider's own website.
Who each loan provider suits on a home loan
Built only from figures the loan providers publish. It says where each one is ahead on paper, not who will approve you.
Pick Bajaj Finance if you want
- The lowest published starting rate (7.25%)
- The longest maximum tenure (32 years)
Where Bank of India stands
No clear edge on the published figures we could compare for a home loan. Check the table below and the Key Fact Statement.
Where ICICI Bank stands
No clear edge on the published figures we could compare for a home loan. Check the table below and the Key Fact Statement.
Bajaj Finance vs Bank of India vs ICICI Bank home loan: rate, fees and tenure
Starting home loan rates as published: Bajaj Finance from 7.25%, Bank of India from 8.40% and ICICI Bank from 8.50%. Bajaj Finance is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. Bajaj Finance lists the longer maximum tenure (up to 32 years).
| Detail | Bajaj Finance | Bank of India | ICICI Bank |
|---|---|---|---|
| Published rate | Starts at 7.25% p.a. (range 7.25%-20% salaried; 7.70%-20% self-employed; 7.30%-20% professionals) | Starting from 8.40% | Starts from 8.50% p.a. |
| Rate basis | fixed or floating (floating can be linked to external benchmark such as repo rate) | daily reducing balance; linked to CIBIL personal score | floating (tied to RBI repo rate) or fixed; varies by profile |
| Loan amount | Up to Rs. 15 crore | Not published | Up to Rs 10 crore (og description says Rs 5 crore) |
| Maximum tenure | Up to 32 years | 360 months | Up to 30 years based on eligibility |
| Processing fee | Nominal fee at application stage; amount not stated | Individuals: 0.25% of loan amount, min Rs. 1,500, max Rs. 20,000; non-individuals 0.50%, min Rs. 3,000, max Rs. 40,000 | Up to 2% of loan amount + applicable taxes |
| Prepayment / foreclosure | Floating-rate individuals: Nil prepayment and foreclosure | No prepayment penalty | Nil for floating-rate home loans; fixed-rate not stated |
| Eligibility (as published) | Indian resident; age 23-67 salaried, 23-70 self-employed at maturity; CIBIL 725 or higher ideal | Resident Indians, NRIs, PIOs; age 18 to 70 at final repayment; trusts not eligible | Age 20-65 salaried, 21-70 self-employed; credit score 700+ (FAQ: ideally 750+); residents and NRIs |
| Other terms published |
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| Official source | bajajfinserv.in/home-loan | bankofindia.co.in/home-loan/star-home-loan | icici.bank.in/personal-banking/loans/home-loan |
EMI illustration: ₹50 lakh over 20 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Bajaj Finance | 7.25% | ₹39,519 | ₹44,84,512 | ₹94,84,512 |
| Bank of India | 8.40% | ₹43,075 | ₹53,38,054 | ₹1,03,38,054 |
| ICICI Bank | 8.50% | ₹43,391 | ₹54,13,879 | ₹1,04,13,879 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Read the full guide: Home loan
Bajaj Finance vs Bank of India vs ICICI Bank home loan EMI by amount and tenure
Monthly EMI at each loan provider's lowest published rate, on a reducing balance. Fees, GST and insurance are not included, and your offered rate may be higher.
By loan amount, over 20 years
| Loan amount | Bajaj Finance (7.25%) | Bank of India (8.40%) | ICICI Bank (8.50%) |
|---|---|---|---|
| ₹25 lakh | ₹19,759 | ₹21,538 | ₹21,696 |
| ₹50 lakh | ₹39,519 | ₹43,075 | ₹43,391 |
| ₹75 lakh | ₹59,278 | ₹64,613 | ₹65,087 |
| ₹1 crore | ₹79,038 | ₹86,150 | ₹86,782 |
By tenure, on ₹50 lakh
| Tenure | Bajaj Finance (7.25%) | Bank of India (8.40%) | ICICI Bank (8.50%) |
|---|---|---|---|
| 10 years | ₹58,701 interest ₹20,44,062 | ₹61,726 interest ₹24,07,090 | ₹61,993 interest ₹24,39,141 |
| 15 years | ₹45,643 interest ₹32,15,766 | ₹48,944 interest ₹38,09,980 | ₹49,237 interest ₹38,62,656 |
| 20 years | ₹39,519 interest ₹44,84,512 | ₹43,075 interest ₹53,38,054 | ₹43,391 interest ₹54,13,879 |
| 25 years | ₹36,140 interest ₹58,42,103 | ₹39,925 interest ₹69,77,490 | ₹40,261 interest ₹70,78,406 |
| 30 years | ₹34,109 interest ₹72,79,173 | ₹38,092 interest ₹87,13,078 | ₹38,446 interest ₹88,40,443 |
A longer tenure lowers the EMI and raises the total interest. Pick the shortest tenure your monthly budget can carry.
What each loan provider publishes about its home loan
Bajaj Finance
NBFC · Bajaj Finance Limited
- How the rate is set: fixed or floating (floating can be linked to external benchmark such as repo rate)
- Eligibility as published: Indian resident; age 23-67 salaried, 23-70 self-employed at maturity; CIBIL 725 or higher ideal
- Approval in 48 hours of submission
- Top-up loan up to Rs 1 crore or higher on balance transfer
- No foreclosure fee for individuals on floating-rate loans
- EMIs starting at Rs 671 per lakh
Bank of India
Public sector bank · Bank of India
- How the rate is set: daily reducing balance; linked to CIBIL personal score
- Eligibility as published: Resident Indians, NRIs, PIOs; age 18 to 70 at final repayment; trusts not eligible
- Moratorium of up to 36 months
- Smart Home Loan overdraft facility
- Takeover/balance transfer with additional loan
- Free accidental insurance up to Rs. 5.00 crores
ICICI Bank
Private bank · ICICI Bank Limited
- How the rate is set: floating (tied to RBI repo rate) or fixed; varies by profile
- Eligibility as published: Age 20-65 salaried, 21-70 self-employed; credit score 700+ (FAQ: ideally 750+); residents and NRIs
- Online sanction
- Nil prepayment charges
- Flexible tenure
Before you apply for a home loan
- Fees beyond the rate: Processing fee, legal and technical valuation charges and any administrative charge add to the cost. Ask for the full list in writing.
- Prepayment: RBI does not allow pre-closure charges on floating-rate home loans to individuals. Fixed-rate loans can still carry them.
- Tax benefit: Under the old tax regime, interest on a self-occupied home is deductible up to Rs 2 lakh a year under Section 24(b), and principal repaid counts within the Rs 1.5 lakh limit of Section 80C. The new regime does not allow these. Check with your tax adviser.
- Margin: The loan provider funds a share of the property value and you pay the rest as margin. The share you can borrow falls as the property price rises.
RBI requires every loan provider to hand you a Key Fact Statement before you sign. It shows the rate, every fee, the APR and the total you will repay.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources and last check
Every figure above is read from the loan provider's own website and was checked on 12 October 2026. A blank means the page does not show that figure, and we never estimate one.
- Bajaj Finance: bajajfinserv.in/home-loan
- Bank of India: bankofindia.co.in/home-loan/star-home-loan
- ICICI Bank: icici.bank.in/personal-banking/loans/home-loan
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More home loan comparisons
Bajaj Finance vs Bank of India vs ICICI Bank: every loan type on one page · All home loan comparisons · Home loan guide · Home loan EMI calculator
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Frequently asked questions
Which is better for a home loan: Bajaj Finance, Bank of India or ICICI Bank?
Bajaj Finance has the lowest published starting home loan rate at 7.25%, against 8.40% at Bank of India and 8.50% at ICICI Bank. On ₹50 lakh over 20 years the difference in total interest is ₹9,29,367. Rate is only one part of the cost, so also compare the processing fee, the prepayment terms and the total repayable amount in the Key Fact Statement.
Which has the lower home loan interest rate: Bajaj Finance, Bank of India or ICICI Bank?
Bajaj Finance has the lowest published starting home loan rate at 7.25%, against 8.40% at Bank of India and 8.50% at ICICI Bank. The published ranges run to Bajaj Finance up to 20%, so the rate you are offered can sit well above the starting rate.
What is the home loan processing fee at Bajaj Finance, Bank of India and ICICI Bank?
Bajaj Finance: Nominal fee at application stage; amount not stated. Bank of India: Individuals: 0.25% of loan amount, min Rs. 1,500, max Rs. 20,000; non-individuals 0.50%, min Rs. 3,000, max Rs. 40,000. ICICI Bank: Up to 2% of loan amount + applicable taxes. Fees can change, so confirm the amount in rupees, with GST, before you accept.
What is the maximum home loan tenure at Bajaj Finance, Bank of India and ICICI Bank?
Bajaj Finance: Up to 32 years. Bank of India: 360 months. ICICI Bank: Up to 30 years based on eligibility. A longer tenure lowers the EMI and raises the total interest.
Can I prepay or foreclose a home loan early at Bajaj Finance, Bank of India and ICICI Bank?
Bajaj Finance: Floating-rate individuals: Nil prepayment and foreclosure. Bank of India: No prepayment penalty. ICICI Bank: Nil for floating-rate home loans; fixed-rate not stated. Ask whether the rate on your loan is fixed or floating, because the charges depend on it.
What is the EMI on a ₹50 lakh home loan at Bajaj Finance, Bank of India and ICICI Bank?
Over 20 years at each loan provider's lowest published rate the monthly EMI is ₹39,519 at Bajaj Finance, ₹43,075 at Bank of India and ₹43,391 at ICICI Bank. This leaves out processing fees, GST and insurance, and your approved rate may be higher.
Who is eligible for a home loan at Bajaj Finance, Bank of India and ICICI Bank?
Bajaj Finance: Indian resident; age 23-67 salaried, 23-70 self-employed at maturity; CIBIL 725 or higher ideal. Bank of India: Resident Indians, NRIs, PIOs; age 18 to 70 at final repayment; trusts not eligible. ICICI Bank: Age 20-65 salaried, 21-70 self-employed; credit score 700+ (FAQ: ideally 750+); residents and NRIs. Each loan provider can ask for more documents once you apply.
Are Bajaj Finance, Bank of India and ICICI Bank regulated by the RBI?
Yes. Bajaj Finance is an NBFC, Bank of India is a public sector bank, ICICI Bank is a private bank, and all lend under RBI rules, including the requirement to give you a Key Fact Statement before you sign.
Where do these home loan figures come from?
From the official pages of Bajaj Finance, Bank of India and ICICI Bank, opened and checked on 12 October 2026. The sources are listed at the bottom of this page. We show a blank where a loan provider does not publish a figure, and we do not estimate one.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and eligibility change; always confirm with the loan provider. Read our editorial policy and how we make money.