ICICI vs BoB Balance Transfer, 2026.
Reviewed by Jay Patel· Last reviewed:
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 listed starting 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 | ||
| Salaried processing depends on lender assessment | ||
| Legal and valuation charges vary | ||
| Listed BT processing fee | ||
| Top-up facility | ||
| Government-employee criteria may vary | ||
| Review all applicable charges |
Up to 30% top-up
Online BT application
Salaried processing depends on lender assessment
Legal and valuation charges vary
Listed BT processing fee
Top-up facility
Government-employee criteria may vary
Review all applicable 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%)
Need context for this comparison? Contact Money Matrix Hub to discuss the displayed lender information. Any service terms and lender decisions should be confirmed before proceeding.
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 shows a lower published starting rate of 8.25% p.a. for balance transfer. However, the actual rate you receive depends on lender eligibility, current documentation, credit score, income, and loan amount. Money Matrix Hub can help you compare available lender information 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 lists a processing fee of 0.50% (max Rs 15,000), while BoB lists 0.25% (max Rs 7,500). Fees and waivers can depend on lender policy and borrower eligibility, so confirm the current Key Fact Statement before accepting an offer.
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?
Money Matrix Hub can help you compare available lender information for ICICI and BoB. Any application, credit enquiry, offer, sanction decision, lender fee, and borrower charge are subject to the relevant lender's current policy and documentation.
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