Home Loan Comparison
Axis Bank Home Loan vs IDBI Bank Home Loan
Introduction
Finding the best home loan doesn't have to be difficult. Let's take a closer look at what Axis Bank and IDBI Bank offer, comparing their rates, loan terms, and customer services to help you select the loan that best suits your financial goals.
Bank Highlights
Axis Bank Home Loan
- Competitive Interest Rates
- Hassle Free Loan Balance Transfer
- No Prepayment Charges
- Transparent Processing
- Flexible Tenure
IDBI Bank Home Loan
- Quick Processing
- Top up facility up to 100%
- Power-Packed customized Features to suit your Home Loan requirements.
- Flexible Loan Repayment Options
- Most experienced personnel for smooth and easy loan processing.
- Already approved projects for convenience of Home Loan buyers
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 IDBI Bank Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When comparing home loans from Axis Bank and IDBI Bank, the interest rates are a key consideration. Axis Bank provides rates of 8.75% - 10.30%, appealing to those who want to keep their monthly payments low. In contrast, IDBI Bank offers rates of 8.45% - 10%, which might result in more significant savings over the life of the loan.
Loan Tenure
Axis Bank extends loan tenures up to Max 30 Years, ideal for borrowers seeking lower monthly commitments. On the other hand, IDBI Bank offers tenures up to Max 30 Years, which can help reduce the total interest paid by shortening the repayment period.
Maximum Loan Amount
Axis Bank allows a maximum loan amount of Upto 5cr, making it suitable for purchasing high-value or luxury properties. IDBI Bank limits the loan amount to 5cr - 10cr, catering to those interested in more affordable housing options.
Processing Fees
Processing fees differ between the two banks. Axis Bank charges a fee of 1% of the loan amount + GST or a minimum of Rs 10,000, whereas IDBI Bank imposes a fee of 0.50% of loan amount (Plus applicable taxes). It's important to include these fees when assessing the overall cost of your home loan.
Conclusion
To make an educated choice that supports your financial aspirations, it's important to consider essential components such as interest rates, eligibility guidelines, loan durations, maximum loan amounts, and processing fees. By analyzing these aspects of the home loans offered by Axis Bank and IDBI Bank, you can select the option that aligns best with your objectives.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.