Home Loan Comparison
Bank Of Baroda Home Loan vs Canara Bank Home Loan vs HSBC Home Loan vs Cholamandalam Home Loan
Introduction
Your dream home deserves the best financing. Compare the home loan options from Bank Of Baroda, Canara Bank, HSBC, and Cholamandalam, focusing on their interest rates, loan terms, and special features. This overview will guide you in selecting the loan that best supports your homeownership journey.
Bank Highlights
Bank Of Baroda Home Loan
- Max savings under Baroda Max Savings Home loan.
- Concession for Women Borrowers- 0.05%
- Nil Processing fee
- Easy Takeover without income documents.
Canara Bank Home Loan
- No upper limit on housing loan quantum
- No Prepayment penalty
- Minimal processing charges
- Complimentary Credit Card
- Reducing Balance Interest Rate
HSBC Home Loan
- Lower EMI Options
- Transparent Terms and Conditions
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
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
Bank Of Baroda vs Canara Bank vs HSBC vs Cholamandalam Calculations
Calculator
Home Loan EMI Calculator
WhatsApp UsLoan Amount
₹ 0
Interest Amount
₹ 0
Total Payable
₹ 0
Monthly EMI
₹ 0
Your Amortization details(Yearly/Monthly)
Feature Comparison
Rate of Interest
When evaluating home loans from Bank Of Baroda, Canara Bank, HSBC, and Cholamandalam, interest rates are a key consideration. Bank Of Baroda offers rates of 8.40% - 10.90%, potentially lowering your monthly repayments. Canara Bank provides rates of 8.50% - 11.00%, which could lead to greater savings over the life of the loan. HSBC presents rates of 8.75%-11.00%, possibly offering the most favourable terms for your needs. Cholamandalam offers rates of 9.00%-15.00%, which might be the most competitive option.
Loan Tenure
Loan tenure impacts the repayment timeline. Bank Of Baroda offers a tenure of up to Max 30 Years, perfect for those preferring extended periods to ease monthly payments. Canara Bank provides a tenure of Upto 30 years or upto 75 years of age of the borrower, whichever is earlier., ideal for borrowers aiming to repay their loan sooner. HSBC allows for a maximum tenure of Max 25 years, offering flexibility based on your financial plans. Cholamandalam offers tenures up to Max 30 years, accommodating different repayment preferences.
Maximum Loan Amount
The maximum loan amount determines the value of the property you can purchase. Bank Of Baroda provides loans up to Upto 20cr, suitable for luxury properties. Canara Bank offers a maximum of Upto 5cr, aligning with moderate investment properties. HSBC approves loans up to Upto 60 crore, catering to a diverse range of property values. Cholamandalam extends maximum loans of Upto 5cr, supporting various real estate investments.
Processing Fees
Processing fees can affect your overall loan cost. Bank Of Baroda charges NIL, which should be considered in your initial budget. Canara Bank imposes 0.50% (Min Rs.1500/-+GST and Max. Rs.10,000/-), impacting your upfront expenses. HSBC sets its fee at 1% of the loan amount sanctioned or INR10,000, whichever is higher, while Cholamandalam requires Up to Rs 5,000 (including GST). These fees should be included in your cost calculations.
Conclusion
Selecting the right home loan is crucial for your financial future. By comparing the interest rates, eligibility criteria, loan tenures, maximum loan amounts, and processing fees offered by Bank Of Baroda, Canara Bank, HSBC, and Cholamandalam, you can choose the option that best fits your needs and helps you achieve your homeownership goals.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.