Here are the following tests I have done with various codecs:
1) 50% quality M-JPEG: File was much smaller but rendering it was a lot worse.
2) MPEG-4: Render was quite blurry.
3) H-264: Minor blurs (really hard to notice unless I looked carefully). Decent quality.
4) MPEG-1: A lot of colour blurs.
5) I googled up something and found out about how to use XVid External codec (https://www.bandisoft.com/forum/viewtopic.php?f=4&t=1673) with bandicam. I set the motion precision to 0 and it shows very minor blurs. Graphics was decent.
All my render settings were “1080p Internet – MP4” with CPU only and Best for the project tab.
Thanks for the help John.