Home Loan Comparison
Canara Bank Home Loan vs HSBC Home Loan vs RBL Bank Home Loan
Introduction
Securing a home loan involves careful consideration of different banks' offerings. Canara Bank, HSBC, and RBL Bank are three prominent financial institutions that cater to a wide range of borrowers. This comparison focuses on their loan amounts, interest rates, and customer service to help you choose the most suitable home loan for your financial profile.
Bank Highlights
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
RBL Bank Home Loan
- Housing Loans of up to INR 15 Crores
- Attractive interest rates
- Tax benefits up to 3.5 lakhs*
- Flexibility Tailored for You.
- Easy top up loans in future.
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
Canara Bank vs HSBC vs RBL Bank Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When comparing home loans from Canara Bank, HSBC, and RBL Bank, interest rates are a key factor. Canara Bank provides rates of 8.50% - 11.00%, appealing to those wanting lower monthly payments. HSBC offers rates of 8.75%-11.00%, which may result in greater long-term savings. RBL Bank features rates of 9.00%-11.00%, offering flexibility for different financial plans.
Loan Tenure
Canara Bank allows loan tenures up to Upto 30 years or upto 75 years of age of the borrower, whichever is earlier., helping minimise the monthly financial burden. HSBC offers loan periods up to Max 25 years, catering to borrowers seeking a balanced repayment schedule. RBL Bank provides loan tenures up to Max 30 years, ideal for those who wish to settle their loan faster.
Maximum Loan Amount
For the maximum loan amount, Canara Bank extends up to Upto 5cr, suitable for high-end property purchases. HSBC caps at Upto 60 crore, fitting for standard housing investments. RBL Bank offers up to Upto 15 Cr, perfect for more affordable real estate endeavours.
Processing Fees
Processing fees differ among the banks. Canara Bank imposes 0.50% (Min Rs.1500/-+GST and Max. Rs.10,000/-), HSBC charges 1% of the loan amount sanctioned or INR10,000, whichever is higher, and RBL Bank requires Up to 1.5% of the loan amount or up to Rs 15,000. It's essential to account for these fees when calculating your overall loan expenses.
Conclusion
To ensure your home loan selection meets your financial needs, thoroughly review the critical elements—interest rates, eligibility conditions, loan tenures, maximum loan amounts, and processing fees—across the offerings from Canara Bank, HSBC, and RBL Bank.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.