ICICI vs BoB Balance Transfer, 2026.
Reviewed by Jay Patel· Last reviewed: stale
A ledger-columns read on ICICI Bank and Bank of Baroda— rate, EMI, fee, fine print. Which one wins your file, not the pitch deck.
ICICI vs BoB — Balance Transfer Comparison
Key parameters compared side by side.
| Parameter | ICICI | BoB |
|---|---|---|
| Interest Rate (p.a.) | 8.35% – 9.15% | 8.25% – 9% |
| Processing Fee | 0.50% (max Rs 15,000) | 0.25% (max Rs 7,500) |
| Max Loan Amount | Rs 10 Cr | Rs 10 Cr |
| Max Tenure | 30 Years | 30 Years |
| Bank Type | Private Sector | Public Sector |
| Founded | 1994 | 1908 |
| Headquarters | Mumbai | Vadodara |
Interest Rate (p.a.)
ICICI
8.35% – 9.15%
BoB
8.25% – 9%
Lower/better: BoB
Processing Fee
ICICI
0.50% (max Rs 15,000)
BoB
0.25% (max Rs 7,500)
Max Loan Amount
ICICI
Rs 10 Cr
BoB
Rs 10 Cr
Max Tenure
ICICI
30 Years
BoB
30 Years
Bank Type
ICICI
Private Sector
BoB
Public Sector
Founded
ICICI
1994
BoB
1908
Headquarters
ICICI
Mumbai
BoB
Vadodara
Rates as of April 2026. Subject to change based on RBI policy and bank revisions.
EMI Comparison
Estimated EMI for Rs 50 Lakh balance transfer for 20 years at each bank's lowest rate.
ICICI
BoB
Savings: Choosing BoB saves you approximately ₹315 per month, or ₹75,600 in total interest over the loan tenure.
Feature Comparison
Key features offered by ICICI and BoB for balance transfer.
| Feature | ICICI | BoB |
|---|---|---|
| Up to 30% top-up | ||
| Online BT application | ||
| 48-hour sanction for salaried | ||
| Free legal & valuation | ||
| Lowest BT processing fee | ||
| Top-up facility | ||
| Fast track for Govt employees | ||
| No hidden charges |
Up to 30% top-up
Online BT application
48-hour sanction for salaried
Free legal & valuation
Lowest BT processing fee
Top-up facility
Fast track for Govt employees
No hidden charges
Which Is Better — ICICI or BoB?
It depends on your priorities. Here is a quick guide.
Choose ICICI If...
- Trusted brand with strong balance transfer offerings
Choose BoB If...
- Lower starting interest rate (8.25% vs 8.35%)
- Government-backed (public sector bank)
- Lower maximum rate (9% vs 9.15%)
Still unsure? Contact Money Matrix Hub for a free personalised recommendation based on your income, credit score, and loan requirement.
Eligibility Comparison
General eligibility criteria for balance transfer at both banks.
ICICI Eligibility
- CIBIL score: 700+ preferred
- Min income: Rs 25,000 per month (salaried)
- Self-employed: 3+ years of business vintage
- Age: 21–65 years (salaried), 25–70 years (self-employed)
- Indian resident or NRI (with conditions)
Criteria may vary. Contact Money Matrix Hub for exact eligibility assessment.
BoB Eligibility
- CIBIL score: 650+ preferred
- Min income: Rs 20,000 per month (salaried)
- Self-employed: 3+ years of business vintage
- Age: 21–65 years (salaried), 25–70 years (self-employed)
- Indian resident or NRI (with conditions)
Criteria may vary. Contact Money Matrix Hub for exact eligibility assessment.
Frequently Asked Questions
Common questions about ICICI vs BoB balance transfer.
Which bank has a lower balance transfer interest rate in 2026 — ICICI or BoB?
BoB currently offers a lower starting rate of 8.25% p.a. for balance transfer. However, the actual rate you receive depends on your credit score, income, and loan amount. Money Matrix Hub can help you get the best negotiated rate from both banks.
What is the maximum balance transfer amount I can get from ICICI vs BoB?
ICICI offers a higher maximum loan amount of up to Rs 10 Cr. ICICI offers up to Rs 10 Cr while BoB offers up to Rs 10 Cr for balance transfer.
Which bank charges a lower processing fee for balance transfer — ICICI or BoB?
ICICI charges a processing fee of 0.50% (max Rs 15,000), while BoB charges 0.25% (max Rs 7,500). Processing fees are often negotiable, and Money Matrix Hub can help waive or reduce these charges.
Should I choose ICICI or BoB for balance transfer in 2026?
The best choice depends on your specific needs. ICICI offers rates from 8.35%–9.15% with a max tenure of 30 years, while BoB offers 8.25%–9% with 30 years tenure. Contact Money Matrix Hub for a personalised comparison based on your profile.
Can Money Matrix Hub help me apply for a balance transfer from both ICICI and BoB?
Yes. Money Matrix Hub is an authorised DSA partner for both ICICI and BoB. We can submit parallel applications at no extra cost and help you pick the best sanction offer. Our service is 100% free for borrowers.
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