Home Loan Comparison
HDFC Home Loan vs Bajaj Finance Home Loan vs Equitas Small Finance Bank 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, Bajaj Finance, and Equitas Small Finance Bank. 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
Bajaj Finance Home Loan
- Low-Interest Rates
- Approval in 48 Hours
- No Foreclosure Fee for individuals
- Hassle Free Application
Equitas Small Finance Bank Home Loan
- Enjoy affordable EMI
- Get speedy approvals
- Pay at your convenience with flexible repayments
- Get loan of up to ₹300 Lakhs
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 Bajaj Finance vs Equitas Small Finance Bank Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When selecting a home loan among HDFC, Bajaj Finance, and Equitas Small Finance Bank, it's essential to assess the interest rates. HDFC offers rates of 8.50% - 9.65%, making it attractive for lower monthly instalments. Bajaj Finance provides rates of 7.99% - 15.00%, potentially yielding better long-term benefits. Meanwhile, Equitas Small Finance Bank has rates of 11.00% - 14.00%, suitable for borrowers seeking flexibility.
Loan Tenure
HDFC extends loan tenures up to Max 30 Years, ideal for minimising monthly financial strain. Bajaj Finance allows up to Max 40 Years, catering to those who prefer a balanced repayment period. Equitas Small Finance Bank offers up to Max 20 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. Bajaj Finance caps at Upto 5cr, suitable for standard investments. Equitas Small Finance Bank provides up to Upto 3cr, 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, Bajaj Finance imposes Up to 4% of the loan amount, and Equitas Small Finance Bank requires Up to 2% on the sanctioned home loan. 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, Bajaj Finance, and Equitas Small Finance Bank.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.