SBI vs PNB home loan
SBI and PNB open at the same typical home loan rate (7.75%), so fees, reset terms and service decide it. On fees, PNB is waiving its processing fee until 31 Dec 2026, against ₹ 15,000 at SBI on ₹ 50 Lakhs. Rate bands checked against both lenders' public cards on 10 Oct 2026 and 11 Oct 2026.
What you'll learn:
- SBI and PNB home loan rates side by side
- What the gap costs on your loan
- Complaints and borrower reports
Compare Offers
Enter both offers to compare.
SBI or PNB home loan: which is better?
On paper these two open at the same typical rate. The October repo hike is what separates them. PNB raised its repo-linked rate on 8 October, so its card is current. SBI's is not yet, and when SBI resets, its rates should move up by about a quarter of a point. On that reading PNB is the slightly cheaper bank today.
PNB's card is short and clear: 7.45% for a CIBIL score of 800 or more, rising to 8.05% at 700 to 749, and it only lists scores of 700 and up. SBI's regular loan spans 7.25% to 8.55%. Below 700, ask PNB directly; its card does not say.
PNB is also waiving its home-loan processing, takeover and documentation charges until 31 December 2026, against up to ₹15,000 at SBI. One mix-up to avoid: PNB Housing Finance is a separate company with its own rates, not Punjab National Bank's home loan.
Pick SBI if
- your score is below 700, where PNB's card publishes no rate
- you want MaxGain's overdraft feature
Pick PNB if
- you are borrowing before 31 December 2026 and want the fee waiver
- you want a card that already includes the October hike
SBI vs PNB home loan comparison
The compare loan offers calculator above opens with each lender's typical home loan rate on ₹ 50 Lakhs over 20 years. Add the processing fee from each quote to compare total cost, not just EMI, then model your own loan on the home loan EMI calculator.
| Measure | SBI | PNB |
|---|---|---|
| Rate band | 7.25% to 8.55% | 7.45% to 8.05% |
| Starting rate | 7.25% | 7.45% |
| Typical rate we model | 7.75% | 7.75% |
| EMI at starting rate (₹ 50 Lakhs, 20 yrs) | ₹ 39,519 | ₹ 40,127 |
| EMI at typical rate | ₹ 41,047 | ₹ 41,047 |
| EMI at top of band | ₹ 43,550 | ₹ 41,978 |
| Total interest at typical rate | ₹ 48.5 Lakhs | ₹ 48.5 Lakhs |
| Processing fee on ₹ 50 Lakhs | ₹ 15,000 | Waived until 31 Dec 2026 |
| Interest + fee, full term | ₹ 48.7 Lakhs | ₹ 48.5 Lakhs |
| Longest tenure | 30 years | 30 years |
| Prepayment charge | No prepayment penalty | Nil on individual floating loans |
| October 2026 repo hike in the card | Not yet | Yes |
| Card checked | 11 Oct 2026 | 10 Oct 2026 |
SBI: Regular term loan by CIBIL score (EBLR 7.90%); Maxgain and top-up price higher. PNB: RLLR 8.35% based (from 8 Oct 2026); CIBIL 700+ on the Oct–Dec 2026 card, lower scores price higher. Fees are before 18% GST and come from each lender's fee page, checked 11 Oct 2026; SBI charges 0.35%, min ₹5,000, max ₹15,000 (salaried); PNB charges 0.35%, min ₹2,500, max ₹15,000, plus ₹1,350 documentation. The calculator opens with both fees filled in. PNB is waiving its home loan processing fee until 31 Dec 2026.
After the October 2026 repo hike
RBI raised the repo rate from 5.25% to 5.50% on 7 October 2026. PNB's card already carries the 0.25% rise; SBI's still did not on 11 Oct 2026, so today's gap flatters SBI. If it passes on the full hike, its typical rate becomes about 8.00% and PNB is cheaper by 0.25 points. Floating loans already running at either lender reset on the lender's own schedule, so existing borrowers feel it a few weeks apart.
What the gap costs at different loan amounts
Both open at 7.75%, so this compares the starting rates a top credit profile can get (SBI 7.25%, PNB 7.45%). 20 years, reducing balance.
| Loan | SBI EMI | PNB EMI | Monthly gap | Interest gap, full term |
|---|---|---|---|---|
| ₹ 30 Lakhs | ₹ 23,711 | ₹ 24,076 | ₹ 365 | ₹ 87.6 Thousand |
| ₹ 50 Lakhs | ₹ 39,519 | ₹ 40,127 | ₹ 608 | ₹ 1.46 Lakhs |
| ₹ 75 Lakhs | ₹ 59,278 | ₹ 60,190 | ₹ 912 | ₹ 2.19 Lakhs |
| ₹ 1 Cr | ₹ 79,038 | ₹ 80,254 | ₹ 1,216 | ₹ 2.92 Lakhs |
Complaints record
SBI's complaints fell 26% in 2025-26 to 21,09,520, but those about loans rose 68% to 26,102. PNB's complaints fell 50% in 2025-26 to 5,74,498, and those about loans fell 16% to 9,009.
| FY 2025-26 | SBI | PNB |
|---|---|---|
| Complaints received | 21,09,520 (-26%) | 5,74,498 (-50%) |
| Escalated to the RBI Ombudsman | 24,356 (-11%) | 7,272 (-8%) |
| About loans and advances | 26,102 (+68%) | 9,009 (-16%) |
Bigger lenders log more because they have more customers, so read the trend, not the raw count. Read the trend and the ombudsman share rather than ranking banks on the raw count. Sources: SBI Annual Report 2025-26, pp. 264–265 (Schedule 18, note 18.11); PNB Annual Report 2025-26, pp. 378–380 (note 11).
What borrowers report
| Lender | App | Google Play rating |
|---|---|---|
| SBI | YONO SBI | 4.2★ from 30.7 lakh ratings |
| PNB | PNB ONE | 4.3★ from 16.8 lakh ratings |
Ratings read on 11 Oct 2026.
SBI: recurring themes
- Complaint: Slow home-loan processing: borrowers describe gaps between sanction and disbursal, and being passed between the branch and SBI's loan processing centre (RACPC). (Moneylife, ConsumerComplaints.in)
Themes are listed only when two independent sources (court rulings, news or complaint forums) agree; treat them as things to check, not a verdict. For PNB we found no loan theme that met that bar.
What to ask before you sign
- PNB: confirm the waiver covers your loan and when it must be sanctioned or disbursed by
- SBI: whether your quote is pre-hike and when it will reset
Then put both written quotes, with their fees, into the calculator at the top of this page, and try a prepayment on the home loan EMI calculator to see how the gap changes if you pay early.
More on each lender: the SBI EMI calculator and the PNB EMI calculator, each with its full rate card by loan type. Every lender's home loan rate and fee is on the home loan interest rates page.
Other comparisons
- SBI vs HDFC home loan
- SBI vs LIC Housing Finance home loan
- SBI vs ICICI home loan
- SBI vs Bank of Baroda home loan
Sources
The lender pages behind the rate bands, and RBI's disclosure rules. This site does not update rates in real time; check the effective date on each card.
- SBI Home Loans Interest Rates (Current)Official home-loan card, starting band, and effective-date notes.
- SBI Personal Loan scheme interest ratesMCLR-linked personal-loan spreads and effective rate bands.
- SBI auto loan interest ratesCar loan rates by CIBIL score and tenure.
- SBI education loan interest ratesStudent Loan Scheme, Scholar, and Global Ed-Vantage rates.
- SBI home loan fees and chargesProcessing fee, tenure and prepayment terms used in the table above.
- Punjab National Bank retail loan interest ratesRLLR-linked rates for housing, car, personal, and education loans by CIBIL score.
- Punjab National Bank MCLR and RLLRCurrent RLLR (8.35% from 8 October 2026) and its revision history.
- PNB home loan fees and chargesProcessing fee, tenure and prepayment terms used in the table above.
- RBI notifications indexKey Facts Statement and retail-lending disclosure rules for rate, fees, and EMI.
- RBI (Pre-payment Charges on Loans) Directions, 2025When regulated lenders may not levy pre-payment charges on floating-rate individual loans for non-business purposes.
Last updated on 11 Oct 2026.