Bank Of Baroda Home Loan vs Canara Bank Home Loan vs LIC HFL Home Loan vs Aadhar Housing Finance Ltd. Home Loan

Feature Comparison

When evaluating home loans from Bank Of Baroda, Canara Bank, LIC HFL, and Aadhar Housing Finance Ltd., interest rates are a key consideration. Bank Of Baroda offers rates of 8.00% - 10.90%, potentially lowering your monthly repayments. Canara Bank provides rates of 7.90% - 10.75%, which could lead to greater savings over the life of the loan. LIC HFL presents rates of 8.00% - 10.75%, possibly offering the most favourable terms for your needs. Aadhar Housing Finance Ltd. offers rates of 9.49% - 10.5%, which might be the most competitive option.

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. LIC HFL allows for a maximum tenure of Max 30 Years, offering flexibility based on your financial plans. Aadhar Housing Finance Ltd. offers tenures up to Max 30 years, accommodating different repayment preferences.

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. LIC HFL approves loans up to Upto 5cr, catering to a diverse range of property values. Aadhar Housing Finance Ltd. extends maximum loans of Upto 5cr, supporting various real estate investments.

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. LIC HFL sets its fee at Rs 0.25% of the loan amount + GST, while Aadhar Housing Finance Ltd. requires Up to Rs.3500 Plus Applicable 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, LIC HFL, and Aadhar Housing Finance Ltd., you can choose the option that best fits your needs and helps you achieve your homeownership goals.