Home Loan Comparison
Aditya Birla Housing Finance Ltd vs Canara Bank
Introduction
In comparing Aditya Birla Housing Finance Ltd Home Loan with Canara Bank Home Loan, it's essential to first acknowledge their similarities—both are accessible to salaried and self-employed applicants and are suitable for various property types. However, the real value of this comparison will depend on your specific needs and those of your potential co-borrowers. Now, let’s get into the details of each home loan.
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
Aditya Birla Housing Finance Ltd vs Canara Bank Calculations
| Compare Home Loans |  |  |
|---|---|---|
| Loan Amount | ₹ 50,00,000 | ₹ 50,00,000 |
| Loan Tenure | 20 years | 20 years |
| Rate of Interest | 8.60% - 10.5% | 9% - 13% |
| Monthly EMI | ₹ 43,708 - ₹ 49,918 | ₹ 44,986 - ₹ 58,578 |
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
In comparing Aditya Birla Housing Finance Ltd Home Loan with Canara Bank Home Loan, several factors are essential for making an informed decision. Aditya Birla Housing Finance Ltd’s rate of 8.60% - 10.5% may suit those looking to minimize their monthly outgoings. In contrast, Canara Bank’s 9% - 13% could be better for those aiming for savings over time.
Loan Tenure
Aditya Birla Housing Finance Ltd Home Loan supports long-term financial planning with loan tenures that can extend to Max 30 years, allowing for lower monthly payments. In contrast, Canara Bank Home Loan's shorter maximum tenure of up to Max 30 Years could help you become debt-free quicker
Maximum Loan Amount
If you’re in the market for luxury properties, Aditya Birla Housing Finance Ltd Home Loan’s maximum of Upto 5cr is suitable. For those making moderate property investments, Canara Bank Home Loan, offering up to Upto 5cr, could be ideal.
Processing Fees
The processing fees can also impact your initial loan expenses. Aditya Birla Housing Finance Ltd Home Loan’s fee is Up to 1.75% of the loan amount while Canara Bank Home Loan charges a fee of Rs 10000 + GST.
Conclusion
Assessing factors like interest rates, eligibility requirements, loan duration, maximum loan amounts, and processing charges will help you understand and compare the home loan services from Aditya Birla Housing Finance Ltd Home Loan and Canara Bank Home Loan for a well-informed financial decision
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