Home Loan Comparison
IDBI Bank Home Loan vs LIC HFL Home Loan vs Can Fin 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 IDBI Bank, LIC HFL, and Can Fin. 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
IDBI Bank Home Loan
- Quick Processing
- Top up facility up to 100%
- Power-Packed customized Features to suit your Home Loan requirements.
- Flexible Loan Repayment Options
- Most experienced personnel for smooth and easy loan processing.
- Already approved projects for convenience of Home Loan buyers
LIC HFL Home Loan
- Online Home loan sanction facility
- Quick sanction and low EMI
- Takeover or balance transfer of existing Home Loans Possible
- No Pre-Payment Penalty
Can Fin 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
IDBI Bank vs LIC HFL vs Can Fin Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When selecting a home loan among IDBI Bank, LIC HFL, and Can Fin, it's essential to assess the interest rates. IDBI Bank offers rates of 8.00% - 12.50%, making it attractive for lower monthly instalments. LIC HFL provides rates of 8.00% - 10.75%, potentially yielding better long-term benefits. Meanwhile, Can Fin has rates of 9.35% - 14.25%, suitable for borrowers seeking flexibility.
Loan Tenure
IDBI Bank extends loan tenures up to Max 30 Years, ideal for minimising monthly financial strain. LIC HFL allows up to Max 30 Years, catering to those who prefer a balanced repayment period. Can Fin offers up to Max 30 years, perfect for borrowers aiming for quicker loan settlement.
Maximum Loan Amount
For maximum loan amounts, IDBI Bank supports up to 5cr - 10cr, ideal for high-value property purchases. LIC HFL caps at Upto 5cr, suitable for standard investments. Can Fin provides up to Upto 10 cr, fitting for modest real estate ventures.
Processing Fees
Processing fees vary across banks. IDBI Bank charges 0.50% of loan amount (Plus applicable taxes), LIC HFL imposes Rs 0.25% of the loan amount + GST, and Can Fin requires 1.00% of the loan amount. 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 IDBI Bank, LIC HFL, and Can Fin.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.