Home Loan Comparison
HDFC Home Loan vs Axis Bank Home Loan vs Repco Home Finance Home Loan
Introduction
Looking for the right home loan can be tough with so many choices out there. In this guide, we'll compare home loans from HDFC, Axis Bank, and Repco Home Finance. All three banks offer loans to both salaried and self-employed people and cover different types of properties. But the best option for you depends on your personal needs and financial situation. Let's look at what each bank has to offer so you can make the best choice.
Bank Highlights
HDFC Home Loan
- Great Customer Service
- Process is Simple and Online
- Certain Restrictions on Online Prepayments
- Competitive Interest Rates
- Multi Branch Banking
- Non Salaried Cases Take Time
Axis Bank Home Loan
- Competitive Interest Rates
- Hassle Free Loan Balance Transfer
- No Prepayment Charges
- Transparent Processing
- Flexible Tenure
Repco Home Finance Home Loan
- Fast track approval process
- Balance Transfer facility
- Flexibility Tailored for You
- Dedicated Customer Support
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
HDFC vs Axis Bank vs Repco Home Finance Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When selecting a home loan among HDFC, Axis Bank, and Repco Home Finance, it's essential to assess the interest rates. HDFC offers rates of 8.50% - 9.65%, making it attractive for lower monthly instalments. Axis Bank provides rates of 8.75% - 10.30%, potentially yielding better long-term benefits. Meanwhile, Repco Home Finance has rates of 10.10-15.00%, suitable for borrowers seeking flexibility.
Loan Tenure
HDFC extends loan tenures up to Max 30 Years, ideal for minimising monthly financial strain. Axis Bank allows up to Max 30 Years, catering to those who prefer a balanced repayment period. Repco Home Finance offers up to Max 30 years, perfect for borrowers aiming for quicker loan settlement.
Maximum Loan Amount
For maximum loan amounts, HDFC supports up to 6cr - 10cr, ideal for high-value property purchases. Axis Bank caps at Upto 5cr, suitable for standard investments. Repco Home Finance provides up to Upto 10 cr, fitting for modest real estate ventures.
Processing Fees
Processing fees vary across banks. HDFC charges Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher, Axis Bank imposes 1% of the loan amount + GST or a minimum of Rs 10,000, and Repco Home Finance requires 1.00% of the loan amount. It's crucial to factor these fees into your initial loan costs.
Conclusion
To make an informed decision that aligns with your financial goals, carefully consider these crucial factors—interest rates, eligibility criteria, loan tenure, maximum loan amount, and processing fees—of the home loan products from HDFC, Axis Bank, and Repco Home Finance.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.