Karur Vyasya Bank Home Loan vs South Indian Bank Home Loan vs Grihum Housing Finance Home Loan vs Can Fin Home Loan

Feature Comparison

When selecting a home loan from Karur Vyasya Bank, South Indian Bank, Grihum Housing Finance, or Can Fin, the interest rate is a pivotal factor. Karur Vyasya Bank offers rates of 7.95% - 10.90%, potentially lowering your monthly repayments. South Indian Bank provides rates of 8.30% to 11.70%, which might result in significant savings over the loan's lifespan. Grihum Housing Finance presents rates of 9.30% - 17.25%, possibly offering the most favourable terms based on your financial objectives. Can Fin offers rates of 9.20% - 14.10%, 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. South Indian Bank offers a tenure of Max 30 years, suitable for those aiming to pay off their loan more quickly. Grihum Housing Finance provides a tenure up to Max 30 years, offering flexibility to match your repayment strategy. Can Fin extends tenures up to Max 30 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. South Indian Bank offers loans up to Upto 15cr, fitting for mid-range properties. Grihum Housing Finance approves maximum loan amounts of Upto 5cr, accommodating a wide spectrum of real estate prices. Can Fin provides loans up to Upto 10 cr, 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. South Indian Bank imposes 0.50% of the loan amount, with a minimum amount of Rs.10000.00, impacting the overall cost of obtaining the loan. Grihum Housing Finance sets its fee at 0.50% of your sanctioned loan amount, while Can Fin requires 1.00% of the loan amount. 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, South Indian Bank, Grihum Housing Finance, and Can Fin. Evaluate factors like interest rates, who qualifies, repayment periods, maximum loan limits, and any processing fees to make an informed decision.