Home Loan Comparison
HDFC Home Loan vs Karur Vyasya Bank Home Loan vs Union Bank Of India 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, Karur Vyasya Bank, and Union Bank Of India. 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
Karur Vyasya Bank Home Loan
- Easy documentation
- No prepayment charges
- Fast Approval
- Easy Takeover
Union Bank Of India Home Loan
- Zero processing charges
- Attractive interest rates
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
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 Karur Vyasya Bank vs Union Bank Of India Calculations
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Feature Comparison
Rate of Interest
When selecting a home loan among HDFC, Karur Vyasya Bank, and Union Bank Of India, it's essential to assess the interest rates. HDFC offers rates of 8.50% - 9.65%, making it attractive for lower monthly instalments. Karur Vyasya Bank provides rates of 9.00% - 11.50%, potentially yielding better long-term benefits. Meanwhile, Union Bank Of India has rates of 7.35%-10.75%, suitable for borrowers seeking flexibility.
Loan Tenure
HDFC extends loan tenures up to Max 30 Years, ideal for minimising monthly financial strain. Karur Vyasya Bank allows up to Max 30 Years, catering to those who prefer a balanced repayment period. Union Bank Of India 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. Karur Vyasya Bank caps at Upto 5cr, suitable for standard investments. Union Bank Of India provides up to Upto 5cr, 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, Karur Vyasya Bank imposes Upto Rs. 7,500/- + GST, and Union Bank Of India requires 0.50% of the loan amount subject to a maximum of Rs. 15000 plus GST. 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, Karur Vyasya Bank, and Union Bank Of India.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.