Karur Vyasya Bank Home Loan vs IDBI Bank Home Loan vs Equitas Small Finance Bank Home Loan vs HSBC Home Loan

Feature Comparison

When selecting a home loan from Karur Vyasya Bank, IDBI Bank, Equitas Small Finance Bank, or HSBC, the interest rate is a pivotal factor. Karur Vyasya Bank offers rates of 9.00% - 11.50%, potentially lowering your monthly repayments. IDBI Bank provides rates of 8.45% - 10%, which might result in significant savings over the loan's lifespan. Equitas Small Finance Bank presents rates of 11.00% - 14.00%, possibly offering the most favourable terms based on your financial objectives. HSBC offers rates of 8.75%-11.00%, 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. IDBI Bank offers a tenure of Max 30 Years, suitable for those aiming to pay off their loan more quickly. Equitas Small Finance Bank provides a tenure up to Max 20 years, offering flexibility to match your repayment strategy. HSBC extends tenures up to Max 25 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. IDBI Bank offers loans up to 5cr - 10cr, fitting for mid-range properties. Equitas Small Finance Bank approves maximum loan amounts of Upto 3cr, accommodating a wide spectrum of real estate prices. HSBC provides loans up to Upto 60 crore, 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. IDBI Bank imposes 0.50% of loan amount (Plus applicable taxes), impacting the overall cost of obtaining the loan. Equitas Small Finance Bank sets its fee at Up to 2% on the sanctioned home loan, while HSBC requires 1% of the loan amount sanctioned or INR10,000, whichever is higher. 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, IDBI Bank, Equitas Small Finance Bank, and HSBC. Evaluate factors like interest rates, who qualifies, repayment periods, maximum loan limits, and any processing fees to make an informed decision.