Home Loan Comparison
Karur Vyasya Bank Home Loan vs Bajaj Finance Home Loan
Introduction
Choosing between Karur Vyasya Bank and Bajaj Finance for your home loan? We'll analyse their interest rates, loan durations, and additional benefits to help you understand which bank provides the most advantageous terms for your home purchase.
Bank Highlights
Karur Vyasya Bank Home Loan
- Easy documentation
- No prepayment charges
- Fast Approval
- Easy Takeover
Bajaj Finance Home Loan
- Low-Interest Rates
- Approval in 48 Hours
- No Foreclosure Fee for individuals
- Hassle Free Application
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
Karur Vyasya Bank vs Bajaj Finance Calculations
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Feature Comparison
Rate of Interest
When comparing home loans from Karur Vyasya Bank and Bajaj Finance, the interest rates offered are a key differentiator. Karur Vyasya Bank provides rates of 9.00% - 11.50%, which is beneficial for minimizing monthly payments. In contrast, Bajaj Finance offers rates of 8.50% - 15.00%, potentially leading to greater long-term savings.
Loan Tenure
Karur Vyasya Bank extends loan tenures up to Max 30 Years, making it suitable for borrowers who prefer lower monthly commitments. On the other hand, Bajaj Finance offers loan tenures of up to Max 40 Years, which can help borrowers repay their loans more quickly and reduce the total interest paid.
Maximum Loan Amount
In terms of the maximum loan amount, Karur Vyasya Bank permits loans up to Upto 5cr, ideal for purchasing premium or high-value properties. Bajaj Finance restricts the loan amount to Upto 5cr, catering to those interested in more affordable housing options.
Processing Fees
Processing fees vary between the two banks. Karur Vyasya Bank charges a fixed fee of Upto Rs. 7,500/- + GST, while Bajaj Finance levies a fee of Up to 4% of the loan amount. These fees should be considered when evaluating the overall cost of your home loan.
Conclusion
To ensure you select a home loan that aligns with your financial objectives, consider important factors like interest rates, eligibility criteria, the length of the loan, maximum loan amounts, and processing fees. Evaluating these elements in the products from Karur Vyasya Bank and Bajaj Finance will guide you toward the best decision.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.