Home Loan Comparison
Axis Bank Home Loan vs ICICI Bank Home Loan vs Bank Of India Home Loan vs Equitas Small Finance Bank Home Loan
Introduction
Navigating home loans is simpler when you know what each bank offers. Let's examine Axis Bank, ICICI Bank, Bank Of India, and Equitas Small Finance Bank, comparing their interest rates, repayment plans, and unique offerings. This comparison will help you choose the loan that fits your financial plans.
Bank Highlights
Axis Bank Home Loan
- Competitive Interest Rates
- Hassle Free Loan Balance Transfer
- No Prepayment Charges
- Transparent Processing
- Flexible Tenure
ICICI Bank Home Loan
- Generous Loan Amount
- Flexible Tenure
- No Foreclosure Charges
- Minimal Documentation
- Instant Provisional Sanction
Bank Of India Home Loan
- Low Interest Rates
- No Hidden Charges
- Minimal Documentation
- Apply Online
- Finish up the process in 15 minutes
Equitas Small Finance Bank Home Loan
- Enjoy affordable EMI
- Get speedy approvals
- Pay at your convenience with flexible repayments
- Get loan of up to ₹300 Lakhs
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
Axis Bank vs ICICI Bank vs Bank Of India vs Equitas Small Finance Bank Calculations
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Feature Comparison
Rate of Interest
When selecting a home loan from Axis Bank, ICICI Bank, Bank Of India, 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. ICICI Bank provides rates of 8.55% - 10.00%, which might offer better long-term financial benefits. Bank Of India has rates of 7.35% - 11%, offering flexibility for various borrowing needs. Equitas Small Finance Bank presents rates of 11.00% - 14.00%, potentially providing the best initial rates.
Loan Tenure
Axis Bank extends loan tenures up to Max 30 Years, ideal for keeping monthly obligations low. ICICI Bank allows loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment timeline. Bank Of India 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.
Maximum Loan Amount
Regarding the maximum loan amount, Axis Bank provides loans up to Upto 5cr, suitable for high-value property purchases. ICICI Bank caps at Upto 5cr, fitting for standard housing investments. Bank Of India 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
Processing fees vary among the banks. Axis Bank charges 1% of the loan amount + GST or a minimum of Rs 10,000, ICICI Bank imposes 0.50% of the loan amount, Bank Of India requires 0.25% of the loan amount + GST upto Rs 20,000, 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, ICICI Bank, Bank Of India, 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.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.