Axis Bank Home Loan vs Bank Of India Home Loan vs Aadhar Housing Finance Ltd. Home Loan vs Equitas Small Finance Bank Home Loan

Feature Comparison

When selecting a home loan from Axis Bank, Bank Of India, Aadhar Housing Finance Ltd., or Equitas Small Finance Bank, interest rates play a crucial role. Axis Bank offers rates of 7.60% - 9.35%, attractive for those looking to minimise monthly payments. Bank Of India provides rates of 7.35% - 11%, which might offer better long-term financial benefits. Aadhar Housing Finance Ltd. has rates of 10.50% - 16.50%, offering flexibility for various borrowing needs. Equitas Small Finance Bank presents rates of 11.00% - 14.00%, potentially providing the best initial rates.

Axis Bank extends loan tenures up to Max 30 Years, ideal for keeping monthly obligations low. Bank Of India allows loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment timeline. Aadhar Housing Finance Ltd. offers loan tenures up to Max 30 years, perfect for those who prefer to clear their loan faster. Equitas Small Finance Bank provides tenures up to Max 20 years, offering options for different repayment preferences.

Regarding the maximum loan amount, Axis Bank provides loans up to Upto 5cr, suitable for high-value property purchases. Bank Of India caps at Upto 5cr, fitting for standard housing investments. Aadhar Housing Finance Ltd. supports loans up to Upto 5cr, ideal for more affordable real estate acquisitions. Equitas Small Finance Bank offers maximum loans of Upto 3cr, accommodating various property values.

Processing fees vary among the banks. Axis Bank charges 1% of the loan amount + GST or a minimum of Rs 10,000, Bank Of India imposes 0.25% of the loan amount + GST upto Rs 20,000, Aadhar Housing Finance Ltd. requires Up to Rs.3500 Plus Applicable GST, and Equitas Small Finance Bank sets its fee at Up to 2% on the sanctioned home loan. It's important to include these fees in your initial cost calculations when choosing the best loan option.

Conclusion

When deciding between the home loan options from Axis Bank, Bank Of India, Aadhar Housing Finance Ltd., and Equitas Small Finance Bank, it's essential to consider how each product fits your unique financial situation. Focus on comparing key aspects like interest rates, eligibility criteria, loan terms, maximum loan limits, and processing fees to ensure you choose a loan that supports both your current needs and future financial well-being.