Bank Of India Home Loan vs Aadhar Housing Finance Ltd. Home Loan vs DCB Bank Home Loan vs Repco Home Finance Home Loan

Feature Comparison

Choosing between Bank Of India, Aadhar Housing Finance Ltd., DCB Bank, and Repco Home Finance for a home loan requires careful consideration of their interest rates. Bank Of India offers rates of 7.85% - 11%, attractive for minimising monthly payments. Aadhar Housing Finance Ltd. provides rates of 9.49% - 10.5%, which may result in significant long-term savings. DCB Bank's rates of 9.75%-14.50% potentially offer the lowest total interest over the life of the loan. Repco Home Finance offers rates of 10.10-15.00%, which could be the most competitive option for your financial situation.

The loan tenure affects both your monthly budget and the total interest paid. Bank Of India offers a tenure up to Max 30 Years, suitable for those who prefer extended repayment periods. Aadhar Housing Finance Ltd. allows a maximum tenure of Max 30 years, providing a middle ground option. DCB Bank offers a tenure of Max 20 years, ideal for borrowers who wish to clear their debt more quickly. Repco Home Finance provides tenures up to Max 30 years, catering to different repayment strategies.

Consider the maximum loan amounts when selecting a bank. Bank Of India provides up to Upto 5cr, making it ideal for premium property purchases. Aadhar Housing Finance Ltd. offers loans up to Upto 5cr, fitting for moderate investments. DCB Bank allows a maximum of Upto 5cr, perfect for smaller-scale property buying. Repco Home Finance extends loans up to Upto 10 cr, accommodating a wide range of property investments.

Processing fees can add to your initial loan costs. Bank Of India's processing fee is 0.25% of the loan amount + GST upto Rs 20,000, which should be accounted for in your budget. Aadhar Housing Finance Ltd. charges Up to Rs.3500 Plus Applicable GST, while DCB Bank sets its processing fee at Upto 2% or ₹ 5,000 (whichever is higher) Processing fee as applicable of sanction limit. Repco Home Finance requires 1.00% of the loan amount, impacting your upfront expenses. Evaluating these fees helps in understanding the overall cost of your loan.

Conclusion

By thoroughly assessing the critical aspects of home loans—such as interest rates, eligibility conditions, loan tenures, maximum loan amounts, and processing fees—from Bank Of India, Aadhar Housing Finance Ltd., DCB Bank, and Repco Home Finance, you can confidently choose the option that meets your financial needs and supports your journey to owning a home.