Skip to content
Menu

Comparing home loan offers in Bangalore (Bengaluru): a checklist

Last reviewed against the official sources listed below. General information, not financial advice.

Short answer

To compare two home loan offers fairly, put them on the same footing: the same amount, the same tenure and the same day. Then line up the rate type, fees, early repayment terms and how the loan is released. This page gives a checklist and a blank table you fill in yourself. It names no lender and ranks none.

Why compare offers on the same footing?

Offers rarely arrive in the same shape. One may be quoted for a different loan amount, another for a longer tenure, a third read from a web page last month. Put side by side, those numbers say little. Before you compare anything, fix the amount and the tenure, note the date, and ask each lender for the same information in writing.

This page does not rank lenders. It gives you a way to do the comparison yourself, with your own figures, so the result reflects your case and not a general claim about the market.

What should go on the checklist?

Each line below changes what a loan costs you or how it behaves. The table further down has a row for every one of them.

  • Rate type: fixed, floating, or fixed for a period and floating after it.
  • For a floating rate, the benchmark it is linked to, the spread over it and how often it resets.
  • Processing fees and any other charges, and which of them are due up front.
  • Tenure, and the monthly instalment that results from it.
  • The annual percentage rate (APR) if the lender states one, and how the lender works it out.
  • Insurance, and whether it is optional or built into the offer.
  • Any charge for repaying early, in part or in full.
  • How the loan is released, which matters most for an under-construction home.

EMI calculator

Floating or fixed: what changes the comparison?

A floating offer and a fixed offer are not measured by the same yardstick. The floating one can move after you sign, so ask how often it resets and what happens to your instalment or tenure when it does. The fixed one holds for the period the agreement names, so ask what happens when that period ends.

RBI directions on external benchmark linked loans say the benchmark forms part of the contract, so you can see what a floating rate is tied to. Our interest rates page explains how resets work, without quoting any rate.

How home loan interest rates work

Why must an offer be in writing?

A figure said on a call, or shown on a web page, is not an offer. A written sanction letter or loan agreement is where the terms become fixed, and it is the document you compare. The RBI Pre-payment Charges Directions, 2025 require the sanction letter and loan agreement to say whether pre-payment charges apply, and they bar charges that were not disclosed in that way.

An RBI circular on floating rate EMI based personal loans also describes lenders disclosing switching and service charges in the sanction letter, and sending a quarterly statement that includes the APR. If something matters to you, ask for it to appear in the document you will sign.

How do you use the blank table?

Fill one column for each offer you collect, using the figures from the written terms. The table stays on your device: it has no save button, sends nothing and is not read by us. If you want to keep it, print the page or copy the entries into your own notes.

Once the columns are full, run each amount, rate and tenure through the EMI calculator to check the monthly instalment, then compare the fees and early repayment terms line by line. The rows that differ most are the ones to ask the lenders about.

What should you do before you sign?

Read the whole agreement, not only the summary, and ask about anything you do not follow. Check that the project's RERA registration number on the brochure matches the record on the K-RERA website. Look at the rate once more on the day you sign if it is floating. Keep a copy of every document, and the date you received it.

Check a RERA number

Your comparison table

Blank on purpose. Type the figures from each written offer. Nothing you type is saved or sent.

What to compareOffer 1Offer 2Offer 3
Loan amount
Tenure
Date you read the offer
Rate type (fixed or floating)
Benchmark and spread, if floating
How often the rate resets
Processing and other fees
Insurance included or optional
Charge for early repayment
How the loan is released
Monthly instalment (EMI)
Anything else the lender added

Common questions

What is APR and why compare it?
APR, the annual percentage rate, is a way of showing the yearly cost of a loan that may include some charges as well as interest. Two offers with the same stated rate can differ in APR, so ask each lender how it works its figure out.
Does a lower rate always mean a lower total cost?
No. Fees, insurance, the tenure and the rate type also change what you pay. Put the whole offer in the table before you judge it.
Should I compare offers on the same day?
Yes where you can. A floating rate resets, and published figures change, so offers read weeks apart are not like for like. Note the date beside each one.
Can I ask a lender to put an offer in writing?
Yes, and you should. A written sanction letter or agreement is the document that fixes the terms. Keep a copy and compare from it, not from a call.

Questions about this page? Get a callback about home loans

An advisor can call you to talk through your questions. We do not offer or price loans, and asking is optional.

Official sources

Each page below was opened and read on the date shown. Rules and pages change, so check the current position there.