ICICI Bank Home Loan vs Aadhar Housing Finance Ltd. Home Loan vs Jana Small Finance Bank Home Loan vs Dhanlaxmi Bank Home Loan

Feature Comparison

When exploring home loan options among ICICI Bank, Aadhar Housing Finance Ltd., Jana Small Finance Bank, and Dhanlaxmi Bank, the interest rate is a pivotal factor. ICICI Bank offers rates of 8.50% - 10.00%, making it appealing for those who prefer lower monthly instalments. Aadhar Housing Finance Ltd. provides rates of 9.49% - 10.5%, which might lead to considerable savings over the loan's duration. Jana Small Finance Bank presents rates of 9.75% - 11.00%, potentially offering the most economical choice based on your financial goals. Dhanlaxmi Bank offers rates of 8.60%-11.00%, which could be the best fit for cost-conscious borrowers.

The length of the loan term can significantly affect your repayment schedule. ICICI Bank offers a maximum tenure of Max 30 Years, ideal for borrowers seeking to minimise their monthly payments. Aadhar Housing Finance Ltd. allows for a tenure of up to Max 30 years, striking a balance between the loan period and total interest paid. Jana Small Finance Bank provides a tenure of Max 30 years, suitable for those who aim to repay their loan sooner. Dhanlaxmi Bank extends tenures up to Max 30 years, offering flexibility for different repayment goals.

Your required loan amount is crucial in selecting the right bank. ICICI Bank extends loans up to Upto 5cr, suitable for purchasing high-end properties. Aadhar Housing Finance Ltd. offers a maximum amount of Upto 5cr, catering to mid-range investments. Jana Small Finance Bank provides loans up to Upto 3 Cr, perfect for smaller property acquisitions. Dhanlaxmi Bank offers maximum loans of Upto 10 cr, accommodating a variety of property values.

Initial costs like processing fees can impact your loan's overall affordability. ICICI Bank charges 0.50% of the loan amount, which could influence your starting expenses. Aadhar Housing Finance Ltd. imposes Up to Rs.3500 Plus Applicable GST, Jana Small Finance Bank sets its fee at 0.5%-2% of the loan amount + GST applicable, and Dhanlaxmi Bank requires 1.00% of the loan amount. Comparing these fees is essential to understand the overall expenses involved.

Conclusion

Making a wise choice between the home loans from ICICI Bank, Aadhar Housing Finance Ltd., Jana Small Finance Bank, and Dhanlaxmi Bank involves a careful look at their specific terms. Focus on comparing interest rates, eligibility requirements, loan durations, the highest loan amounts available, and processing fees to select the loan that best suits your financial situation.