Home Loan Comparison
Aavas Housing Finance Home Loan vs Federal Bank Home Loan vs Dhanlaxmi Bank Home Loan
Introduction
When it comes to financing your home, Aavas Housing Finance, Federal Bank, and Dhanlaxmi Bank are top contenders. These banks provide home loans to both salaried and self-employed borrowers, accommodating various property types from apartments to villas. Let's compare their interest rates, processing fees, and loan terms to determine which option offers the best value for your situation.
Bank Highlights
Aavas Housing Finance Home Loan
- Wide Range of Eligible Properties
- Integrated Branch Network
- Loan Amount Flexibility
- Flexible Tenure Options
Federal Bank Home Loan
- Repayment holiday up to 36 months.
- Optional funding for life insurance
- No pre closure charges
- Maximum funding for your dream house -85% of the project cost.
- Easy top up loans in future.
Dhanlaxmi Bank Home Loan
- Fast track approval process
- Balance Transfer facility
- Flexibility Tailored for You
- Dedicated Customer Support
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
Aavas Housing Finance vs Federal Bank vs Dhanlaxmi Bank Calculations
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Feature Comparison
Rate of Interest
When exploring home loan options from Aavas Housing Finance, Federal Bank, and Dhanlaxmi Bank, it's important to compare their interest rates. Aavas Housing Finance offers competitive rates of 8.50-10.5%, which can help reduce your monthly payments. Federal Bank provides rates of 8.80%-11.00%, potentially offering better savings over the loan period. Dhanlaxmi Bank presents rates of 8.60%-11.00%, ideal for borrowers looking for adaptable financing solutions.
Loan Tenure
Aavas Housing Finance offers loan tenures extending up to Max 30 years, perfect for those who prefer lower monthly obligations. Federal Bank provides loan periods up to Max 30 years, balancing repayment duration and financial flexibility. Dhanlaxmi Bank allows loan tenures up to Max 30 years, suitable for borrowers aiming to repay their loan more quickly.
Maximum Loan Amount
Regarding the maximum loan amount, Aavas Housing Finance grants loans up to Upto 3cr, making it suitable for purchasing premium properties. Federal Bank offers a ceiling of Upto 15cr, ideal for standard home investments. Dhanlaxmi Bank supports loans up to Upto 10 cr, catering to more modest property acquisitions.
Processing Fees
Processing fees are an important consideration. Aavas Housing Finance charges Up to 2% + GST, Federal Bank levies Low processing fees, and Dhanlaxmi Bank imposes 1.00% of the loan amount. These fees should be included in your initial cost calculations when selecting the most cost-effective loan option.
Conclusion
For a choice that best suits your financial objectives, evaluate key aspects such as interest rates, eligibility requirements, loan terms, maximum loan limits, and processing fees offered by Aavas Housing Finance, Federal Bank, and Dhanlaxmi Bank in their home loan products.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.