Karur Vyasya Bank Home Loan vs Canara Bank Home Loan vs Punjab National Bank Home Loan vs DCB Bank Home Loan

Feature Comparison

When selecting a home loan from Karur Vyasya Bank, Canara Bank, Punjab National Bank, or DCB Bank, the interest rate is a pivotal factor. Karur Vyasya Bank offers rates of 7.95% - 10.90%, potentially lowering your monthly repayments. Canara Bank provides rates of 7.40% - 10.25%, which might result in significant savings over the loan's lifespan. Punjab National Bank presents rates of 7.50% - 10.70%, possibly offering the most favourable terms based on your financial objectives. DCB Bank offers rates of 9.75%-14.50%, which could be the most competitive for your needs.

The loan tenure influences the duration of your repayment period. Karur Vyasya Bank allows a maximum tenure of Max 30 Years, ideal for spreading out payments to reduce monthly expenses. Canara Bank offers a tenure of Upto 30 years or upto 75 years of age of the borrower, whichever is earlier., suitable for those aiming to pay off their loan more quickly. Punjab National Bank provides a tenure up to Max 30 Years, offering flexibility to match your repayment strategy. DCB Bank extends tenures up to Max 20 years, accommodating various financial plans.

The maximum loan amount determines the value of the property you can purchase. Karur Vyasya Bank finances up to Upto 5cr, catering to high-end property investments. Canara Bank offers loans up to Upto 5cr, fitting for mid-range properties. Punjab National Bank approves maximum loan amounts of Upto 5cr, accommodating a wide spectrum of real estate prices. DCB Bank provides loans up to Upto 5cr, supporting diverse property values.

Processing fees affect your initial loan costs. Karur Vyasya Bank charges Upto Rs. 7,500/- + GST, which should be factored into your upfront expenses. Canara Bank imposes 0.50% (Min Rs.1500/-+GST and Max. Rs.10,000/-), impacting the overall cost of obtaining the loan. Punjab National Bank sets its fee at up to 1% for Home Loan, while DCB Bank requires Upto 2% or ₹ 5,000 (whichever is higher) Processing fee as applicable of sanction limit. These fees should be included in your budget considerations.

Conclusion

To find the home loan that aligns with your financial plans, consider the key features of the offerings from Karur Vyasya Bank, Canara Bank, Punjab National Bank, and DCB Bank. Evaluate factors like interest rates, who qualifies, repayment periods, maximum loan limits, and any processing fees to make an informed decision.