Home Loan Comparison
HDFC Home Loan vs Bank Of India Home Loan vs Hinduja Housing 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, Bank Of India, and Hinduja Housing 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
Bank Of India Home Loan
- Low Interest Rates
- No Hidden Charges
- Minimal Documentation
- Apply Online
- Finish up the process in 15 minutes
Hinduja Housing 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 Bank Of India vs Hinduja Housing Finance Calculations
Calculator
Home Loan EMI Calculator
WhatsApp UsLoan Amount
₹ 0
Interest Amount
₹ 0
Total Payable
₹ 0
Monthly EMI
₹ 0
Your Amortization details(Yearly/Monthly)
Feature Comparison
Rate of Interest
When selecting a home loan among HDFC, Bank Of India, and Hinduja Housing Finance, it's essential to assess the interest rates. HDFC offers rates of 8.50% - 9.65%, making it attractive for lower monthly instalments. Bank Of India provides rates of 7.85% - 10.75%, potentially yielding better long-term benefits. Meanwhile, Hinduja Housing Finance has rates of 10.50%-15.00%, suitable for borrowers seeking flexibility.
Loan Tenure
HDFC extends loan tenures up to Max 30 Years, ideal for minimising monthly financial strain. Bank Of India allows up to Max 30 Years, catering to those who prefer a balanced repayment period. Hinduja Housing Finance offers up to Max 25 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. Bank Of India caps at Upto 5cr, suitable for standard investments. Hinduja Housing Finance provides up to Upto 1 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, Bank Of India imposes 0.25% of the loan amount + GST upto Rs 20,000, and Hinduja Housing Finance requires Rs. 4,600. 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, Bank Of India, and Hinduja Housing Finance.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.