Home Loan Comparison
Axis Bank Home Loan vs IIFL Home Loan vs Union Bank Of India Home Loan vs L&T Housing Finance Home Loan
Introduction
Navigating home loans is simpler when you know what each bank offers. Let's examine Axis Bank, IIFL, Union Bank Of India, and L&T Housing Finance, 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
IIFL Home Loan
- Customized repayment solutions
- All round assistance
- No prepayment charges
- Door step services
- Minimal documentation
Union Bank Of India Home Loan
- Zero processing charges
- Attractive interest rates
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
L&T Housing Finance Home Loan
- Digitized Process
- Dedicated Relationship Manager
- Lowest Down Payment
- Flexibility Tailored for You.
- Easy top up loans in future.
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 IIFL vs Union Bank Of India vs L&T Housing Finance Calculations
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Feature Comparison
Rate of Interest
When selecting a home loan from Axis Bank, IIFL, Union Bank Of India, or L&T Housing Finance, interest rates play a crucial role. Axis Bank offers rates of 8.75% - 10.30%, attractive for those looking to minimise monthly payments. IIFL provides rates of 8.75% - 10.5%, which might offer better long-term financial benefits. Union Bank Of India has rates of 7.35%-10.75%, offering flexibility for various borrowing needs. L&T Housing Finance presents rates of 8.65%- 11.00%, potentially providing the best initial rates.
Loan Tenure
Axis Bank extends loan tenures up to Max 30 Years, ideal for keeping monthly obligations low. IIFL allows loan periods up to Max 30 years, catering to borrowers seeking a balanced repayment timeline. Union Bank Of India offers loan tenures up to Max 30 years, perfect for those who prefer to clear their loan faster. L&T Housing Finance provides tenures up to Max 25 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. IIFL caps at Upto 5cr, fitting for standard housing investments. Union Bank Of India supports loans up to Upto 5cr, ideal for more affordable real estate acquisitions. L&T Housing Finance offers maximum loans of Upto 10 Cr, 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, IIFL imposes Up to 1.75% of the loan amount, Union Bank Of India requires 0.50% of the loan amount subject to a maximum of Rs. 15000 plus GST, and L&T Housing Finance sets its fee at Up to 3% of sanctioned amount. 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, IIFL, Union Bank Of India, and L&T Housing Finance, 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.