Home Loan Comparison
Aadhar Housing Finance Ltd. Home Loan vs IDFC First Bank Home Loan
Introduction
Finding a home loan that suits your needs is easier when you know your options. Let's examine Aadhar Housing Finance Ltd. and IDFC First Bank, comparing their mortgage rates, loan conditions, and extra features to help you choose the right bank for your home financing journey.
Bank Highlights
Aadhar Housing Finance Ltd. Home Loan
- •Home loans available without
- income proof
- Fast and transparent loan procedure
- Affordable EMIs
- Tax benefits under
- section 80C
IDFC First Bank Home Loan
- Minimal documentation, tailor-made loans
- Up to 100% top-up at the same rate as balance transfers
- Enhanced eligibility for salaried & self-employed customers
- Digital process for availing loans up to ₹10 crore and tenure up to 30 years
Disclaimer
The interest rates, maximum tenures, and other charges are subject to change, and it's advisable to check with our experts for the most current information.
Home Loan Calculations
Aadhar Housing Finance Ltd. vs IDFC First Bank Calculations
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Feature Comparison
Rate of Interest
When deciding between Aadhar Housing Finance Ltd. and IDFC First Bank for your home loan, the interest rates are a vital consideration. Aadhar Housing Finance Ltd. offers rates of 8.75-10.5%, which is advantageous for borrowers looking to reduce their monthly financial commitments. On the other hand, IDFC First Bank provides rates of 8.85% - 14%, potentially resulting in greater savings over the duration of the loan.
Loan Tenure
Aadhar Housing Finance Ltd. extends loan tenures up to Max 30 years, making it an excellent choice for those who prefer spreading their repayments over a longer period. Conversely, IDFC First Bank offers loan tenures of up to Max 30 Years, appealing to borrowers who aim to pay off their loan more quickly and minimize total interest costs.
Maximum Loan Amount
In terms of the maximum loan amount, Aadhar Housing Finance Ltd. allows borrowing up to Upto 5cr, suitable for purchasing high-value or luxury properties. Meanwhile, IDFC First Bank caps the loan amount at Upto 5 Cr, ideal for those investing in more moderately priced homes.
Processing Fees
Processing fees are an essential factor to consider. Aadhar Housing Finance Ltd. charges a fixed processing fee of Up to Rs.3500 Plus Applicable GST, whereas IDFC First Bank imposes a fee of Up to 3% of loan amount. It's important to account for these fees when calculating the overall cost of your home loan.
Conclusion
In summary, to find a home loan that fits your financial plans, it's vital to assess significant factors like the interest rate, eligibility criteria, loan duration, maximum borrowing capacity, and any processing fees. By analyzing these critical elements between Aadhar Housing Finance Ltd. and IDFC First Bank, you can make a choice that aligns with your financial objectives.
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