Home Loan Comparison
Axis Bank Home Loan vs Bank Of Baroda Home Loan
Introduction
So as we start comparing these two home loans we have some basic guide for both of them. First, both home loans, Axis Bank Home Loan & Bank Of Baroda Home Loan offer loans to Salaried & Self employed applicants. Second, we know that both banks provides to every property type. And finally, any comparison is ultimately futile without considering the use case. Who is buying the home loan? You, your family, your parents? That's something you'll need to answer before using this guide. So with that introduction out of the way, we can get to comparing the home loans.
Disclaimer
The interest rates, maximum tenures, and other charges are subject to change, and it's advisable to check with our experst for the most current information.
Home Loan Calculations
Axis Bank Home Loan vs Bank Of Baroda Home Loan Calculations
Compare Home Loans | ||
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Loan Amount | ₹ 50,00,000 | ₹ 50,00,000 |
Loan Tenure | 20 years | 20 years |
Rate of Interest | 8.70% - 10.25% | 8.40% - 10.90% |
Monthly EMI | ₹ 44,026 - ₹ 49,082 | ₹ 43,075 - ₹ 51,269 |
Calculator
Home Loan EMI Calculator
Your Amortization details(Yearly/Monthly)
Feature Comparison
Rate of Interest
When comparing the home loan options between Axis Bank Home Loan and Bank Of Baroda Home Loan, several key factors help you make the best choice for your financial needs. Axis Bank Home Loan offers a competitive rate of interest at 8.70% - 10.25%, which might be more appealing if you're looking for lower monthly repayments. On the other hand, Bank Of Baroda Home Loan stands out with its 8.40% - 10.90%, which is potentially beneficial for long-term savings.
Loan Tenure
In terms of loan tenure, Axis Bank Home Loan allows for flexibility up to Max 30 Years, ideal for those who prefer spreading out payments over a longer period. Conversely, Bank Of Baroda Home Loan offers a tenure of up to Max 30 Years, which might suit you if you're looking to pay off the loan sooner.
Maximum Loan Amount
The maximum loan amount is another critical consideration. Axis Bank Home Loan offers Upto 5cr, making it a viable option for purchasing high-value properties. Bank Of Baroda Home Loan, with a maximum loan offer of 10cr - 20cr, could be better suited for those looking at a moderate investment.
Processing Fees
Lastly, processing fees can impact your upfront costs. Axis Bank Home Loan charges a fee of 1% of the loan amount + GST or a minimum of Rs 10,000, whereas Bank Of Baroda Home Loan has set its fees at Rs 4000 - 10000 + GST. This difference could influence your initial loan cost.
Conclusion
By examining these factors—the interest rate, eligibility, loan tenure, maximum loan amount, and processing fees—you can better understand the home loan offerings from Axis Bank Home Loan and Bank Of Baroda Home Loan, making an informed decision that aligns with your financial goals.