Home Loan Comparison
HDFC Home Loan vs LIC HFL
Introduction
As we compare HDFC Home Loan Home Loan with LIC HFL Home Loan, it’s important to note a few similarities: both serve salaried and self-employed individuals and accommodate every property type. But remember, the effectiveness of this comparison largely depends on the borrower's profile—be it you or a family member. Keep this in mind as we explore what each home loan has to offer.
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 Home Loan vs LIC HFL Calculations
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Feature Comparison
Rate of Interest
When evaluating home loan choices between HDFC Home Loan Home Loan and LIC HFL Home Loan, consider several crucial aspects to determine the most suitable option for your finances. HDFC Home Loan Home Loan provides a competitive interest rate at 8.70% - 9.70% , appealing for those seeking lower monthly payments. Conversely, LIC HFL Home Loan, with its 8.50% - 10.75%, may offer more substantial long-term savings.
Loan Tenure
HDFC Home Loan Home Loan offers the longest tenure of up to Max 30 Years, suitable for those who want minimal impact on their monthly budget. Conversely, LIC HFL Home Loan provides a quicker route to becoming debt-free with a tenure of up to Max 30 Years.
Maximum Loan Amount
When considering the maximum loan amount, HDFC Home Loan Home Loan provides up to 6cr - 10cr, ideal for buying premium properties. Conversely, LIC HFL Home Loan allows a maximum of Upto 5cr, perfect for more modest investments.
Processing Fees
Furthermore, processing fees need attention as they affect your starting loan costs. HDFC Home Loan Home Loan imposes a fee of Rs 3000 + GST, while LIC HFL Home Loan sets its fee at Rs 0.25% of the loan amount + GST.
Conclusion
To make an educated choice that meets your financial goals, review these critical aspects—interest rate, eligibility, loan tenure, maximum loan limit, and processing fees—of the home loan products from HDFC Home Loan and LIC HFL.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.