Home Loan Comparison
Axis Bank Home Loan vs Karur Vyasya Bank Home Loan vs Aavas Housing Finance Home Loan vs Cholamandalam Home Loan
Introduction
Navigating home loans is simpler when you know what each bank offers. Let's examine Axis Bank, Karur Vyasya Bank, Aavas Housing Finance, and Cholamandalam, 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
Karur Vyasya Bank Home Loan
- Easy documentation
- No prepayment charges
- Fast Approval
- Easy Takeover
Aavas Housing Finance Home Loan
- Wide Range of Eligible Properties
- Integrated Branch Network
- Loan Amount Flexibility
- Flexible Tenure Options
Cholamandalam Home Loan
- Minimum Documentation
- Personalised Doorstep Service
- Fast track approval process
- Balance Transfer with better interest rates
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 Karur Vyasya Bank vs Aavas Housing Finance vs Cholamandalam Calculations
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Feature Comparison
Rate of Interest
When selecting a home loan from Axis Bank, Karur Vyasya Bank, Aavas Housing Finance, or Cholamandalam, interest rates play a crucial role. Axis Bank offers rates of 8.75% - 10.30%, attractive for those looking to minimise monthly payments. Karur Vyasya Bank provides rates of 9.00% - 11.50%, which might offer better long-term financial benefits. Aavas Housing Finance has rates of 8.50-10.5%, offering flexibility for various borrowing needs. Cholamandalam presents rates of 9.00%-15.00%, potentially providing the best initial rates.
Loan Tenure
Axis Bank extends loan tenures up to Max 30 Years, ideal for keeping monthly obligations low. Karur Vyasya Bank allows loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment timeline. Aavas Housing Finance offers loan tenures up to Max 30 years, perfect for those who prefer to clear their loan faster. Cholamandalam provides tenures up to Max 30 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. Karur Vyasya Bank caps at Upto 5cr, fitting for standard housing investments. Aavas Housing Finance supports loans up to Upto 3cr, ideal for more affordable real estate acquisitions. Cholamandalam offers maximum loans of Upto 5cr, 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, Karur Vyasya Bank imposes Upto Rs. 7,500/- + GST, Aavas Housing Finance requires Up to 2% + GST, and Cholamandalam sets its fee at Up to Rs 5,000 (including GST). 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, Karur Vyasya Bank, Aavas Housing Finance, and Cholamandalam, 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.
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