Home Loan Comparison
IIFL Home Loan vs Aavas Housing Finance Home Loan vs Jana Small Finance Bank Home Loan vs HSBC Home Loan
Introduction
Choosing the right home loan is crucial for your financial future. We'll analyse the home loan options from IIFL, Aavas Housing Finance, Jana Small Finance Bank, and HSBC, looking at their rates, terms, and customer benefits. This comparison aims to help you find the most suitable loan for your new home.
Bank Highlights
IIFL Home Loan
- Customized repayment solutions
- All round assistance
- No prepayment charges
- Door step services
- Minimal documentation
Aavas Housing Finance Home Loan
- Wide Range of Eligible Properties
- Integrated Branch Network
- Loan Amount Flexibility
- Flexible Tenure Options
Jana Small Finance Bank Home Loan
- Lower EMI Options
- Transparent Terms and Conditions
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
HSBC Home Loan
- Lower EMI Options
- Transparent Terms and Conditions
- 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
IIFL vs Aavas Housing Finance vs Jana Small Finance Bank vs HSBC Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When comparing home loan offerings from IIFL, Aavas Housing Finance, Jana Small Finance Bank, and HSBC, interest rates are a key consideration. IIFL provides rates of 8.75% - 10.5%, which can lead to lower monthly payments. Aavas Housing Finance offers rates of 8.50-10.5%, potentially resulting in greater long-term savings. Jana Small Finance Bank has rates of 9.75% - 11.00%, offering flexibility for different financial strategies. HSBC offers rates of 8.75%-11.00%, which may be advantageous for those seeking competitive rates.
Loan Tenure
IIFL offers loan tenures up to Max 30 years, ideal for reducing monthly financial commitments. Aavas Housing Finance provides loan periods up to Max 30 years, catering to those who prefer a balanced repayment schedule. Jana Small Finance Bank allows loan tenures up to Max 30 years, perfect for borrowers aiming to repay their loans more quickly. HSBC extends tenures up to Max 25 years, offering additional repayment options.
Maximum Loan Amount
For the maximum loan amount, IIFL extends up to Upto 5cr, making it suitable for purchasing premium properties. Aavas Housing Finance caps loans at Upto 3cr, fitting for standard home investments. Jana Small Finance Bank offers loans up to Upto 3 Cr, catering to more modest real estate purchases. HSBC provides maximum loans of Upto 60 crore, supporting a diverse range of property investments.
Processing Fees
Processing fees differ across banks. IIFL charges Up to 1.75% of the loan amount, Aavas Housing Finance imposes Up to 2% + GST, Jana Small Finance Bank sets its fee at 0.5%-2% of the loan amount + GST applicable, and HSBC requires 1% of the loan amount sanctioned or INR10,000, whichever is higher. These fees should be factored into your initial loan costs to determine the most cost-effective option.
Conclusion
To find the most suitable home loan among IIFL, Aavas Housing Finance, Jana Small Finance Bank, and HSBC, it's crucial to examine the specific features each bank offers. By evaluating factors such as interest rates, eligibility conditions, loan durations, maximum borrowing amounts, and processing fees, you can make an informed decision that aligns with your financial plans and helps you achieve your dream of owning a home.
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