Bank Of Baroda Home Loan vs Canara Bank Home Loan vs Shriram Housing Finance Home Loan vs DCB Bank Home Loan

Feature Comparison

When evaluating home loans from Bank Of Baroda, Canara Bank, Shriram Housing Finance, and DCB Bank, 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. Shriram Housing Finance presents rates of 9.50% - 10.5%, possibly offering the most favourable terms for your needs. DCB Bank offers rates of 9.75%-14.50%, 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. Shriram Housing Finance allows for a maximum tenure of Max 25 years, offering flexibility based on your financial plans. DCB Bank offers tenures up to Max 20 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. Shriram Housing Finance approves loans up to Upto 10 Cr, catering to a diverse range of property values. DCB Bank 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. Shriram Housing Finance sets its fee at Up to 2.5% of the loan amount plus applicable taxes., while DCB Bank requires Upto 2% or ₹ 5,000 (whichever is higher) Processing fee as applicable of sanction limit. 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, Shriram Housing Finance, and DCB Bank, you can choose the option that best fits your needs and helps you achieve your homeownership goals.