Dear Experts,
I'm planning to construct a house at my hometown and would like to avail loan for about 35L. I read quite a few reviews and finally narrowed down to SBI and LIC HFL.

Although the rate of interest SBI is the least and post sanction hassle free, I'm little confused after seeing the LIC HFL option.

SBI has only floating rate 10.15% pa and LIC has a scheme of 10.95% fixed for 10 years.
out of these two which one is the best and are there any hidden costs with LIC;s fixed rate?

The reason for looking at LIC is: i already have a housing loan which i took in 2007 9.5 floating and now it is 12.5% . so considering 3% increase in floating , does going with SBI's 10.15% would still be beneficial?

Please advice.
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  • Any help towards this is highly appreciated !! Thanks in advance !!