Home Loan Comparison
IDFC First Bank Home Loan vs Aadhar Housing Finance Ltd. Home Loan
Introduction
Choosing the right home loan is essential for your financial future. In this comparison between IDFC First Bank Home Loan and Aadhar Housing Finance Ltd. Home Loan, we'll explore their loan terms, eligibility criteria, and customer support to help you make an informed decision.
Bank Highlights
IDFC First Bank Home Loan
- Minimal documentation, tailor-made loans
- Up to 100% top-up at the same rate as balance transfers
- Enhanced eligibility for salaried & self-employed customers
- Digital process for availing loans up to ₹10 crore and tenure up to 30 years
Aadhar Housing Finance Ltd. Home Loan
- •Home loans available without
- income proof
- Fast and transparent loan procedure
- Affordable EMIs
- Tax benefits under
- section 80C
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
IDFC First Bank vs Aadhar Housing Finance Ltd. Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When selecting between IDFC First Bank and Aadhar Housing Finance Ltd. for your home loan, evaluating the interest rates is crucial. IDFC First Bank offers rates of 8.85% - 14%, making it an attractive choice for those aiming to keep their monthly instalments low. On the other hand, Aadhar Housing Finance Ltd. provides rates of 8.75-10.5%, which might result in greater savings over the duration of the loan.
Loan Tenure
IDFC First Bank extends loan tenures up to Max 30 Years, which is perfect for borrowers who prefer smaller monthly payments. Conversely, Aadhar Housing Finance Ltd. allows loan periods of up to Max 30 years, catering to individuals who wish to pay off their loan more quickly and reduce the total interest burden.
Maximum Loan Amount
In terms of the maximum loan amount, IDFC First Bank permits loans up to Upto 5 Cr, suitable for purchasing luxury or high-value properties. Meanwhile, Aadhar Housing Finance Ltd. limits the loan amount to Upto 5cr, making it ideal for buyers looking at more affordable housing options.
Processing Fees
Processing fees are another important consideration. IDFC First Bank charges a flat fee of Up to 3% of loan amount, whereas Aadhar Housing Finance Ltd. levies a fee of Up to Rs.3500 Plus Applicable GST. These fees should be taken into account when calculating the overall cost of your home loan.
Conclusion
Selecting the right home loan involves careful consideration of important elements like interest rates, qualification requirements, loan durations, maximum loan limits, and any associated processing charges. Reviewing these factors in the offerings from IDFC First Bank and Aadhar Housing Finance Ltd. will help you make a well-informed choice tailored to your financial goals.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.