Home Loan Comparison
Kotak Mahindra Home Loan vs Axis Bank Home Loan vs Aavas Housing Finance Home Loan vs Shriram Housing Finance Home Loan
Introduction
When choosing a home loan, it's essential to understand your options. Compare Kotak Mahindra, Axis Bank, Aavas Housing Finance, and Shriram Housing Finance to see how they differ in terms of interest rates, loan flexibility, and customer service. This guide will assist you in selecting the loan that best meets your needs.
Bank Highlights
Kotak Mahindra Home Loan
- Attractive Interest Rates
- Minimal Documentation
- 50% off on processing fees for all digital applications
- Customizable Tenure
Axis Bank Home Loan
- Competitive Interest Rates
- Hassle Free Loan Balance Transfer
- No Prepayment Charges
- Transparent Processing
- Flexible Tenure
Aavas Housing Finance Home Loan
- Wide Range of Eligible Properties
- Integrated Branch Network
- Loan Amount Flexibility
- Flexible Tenure Options
Shriram Housing Finance Home Loan
- Flexible Repayment
- Easy Documentation
- Life insurance cover is offered to housing loan borrowers
- Dedicated Relationship Manager
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
Kotak Mahindra vs Axis Bank vs Aavas Housing Finance vs Shriram Housing Finance Calculations
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Feature Comparison
Rate of Interest
When comparing home loans from Kotak Mahindra, Axis Bank, Aavas Housing Finance, and Shriram Housing Finance, interest rates are a key factor. Kotak Mahindra provides rates of 8.65% - 9.85%, appealing to those wanting lower monthly payments. Axis Bank offers rates of 8.75% - 10.30%, which may result in greater long-term savings. Aavas Housing Finance features rates of 8.50-10.5%, offering flexibility for different financial plans. Shriram Housing Finance presents rates of 9.50% - 10.5%, suitable for borrowers seeking competitive terms.
Loan Tenure
Kotak Mahindra allows loan tenures up to Max 30 Years, helping minimise the monthly financial burden. Axis Bank offers loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment schedule. Aavas Housing Finance provides loan tenures up to Max 30 years, ideal for those who wish to settle their loan faster. Shriram Housing Finance extends tenures up to Max 25 years, providing additional options for repayment.
Maximum Loan Amount
For the maximum loan amount, Kotak Mahindra extends up to Upto 5cr, suitable for high-end property purchases. Axis Bank caps at Upto 5cr, fitting for standard housing investments. Aavas Housing Finance offers up to Upto 3cr, perfect for more affordable real estate endeavours. Shriram Housing Finance provides loans up to Upto 10 Cr, accommodating a broad range of property prices.
Processing Fees
Processing fees differ among the banks. Kotak Mahindra imposes 0.5% - 1.00% of the loan amount, Axis Bank charges 1% of the loan amount + GST or a minimum of Rs 10,000, Aavas Housing Finance requires Up to 2% + GST, and Shriram Housing Finance sets its fee at Up to 2.5% of the loan amount plus applicable taxes.. It's essential to account for these fees when calculating your overall loan expenses.
Conclusion
To ensure your home loan selection meets your financial needs, thoroughly review the critical elements—interest rates, eligibility conditions, loan tenures, maximum loan amounts, and processing fees—across the offerings from Kotak Mahindra, Axis Bank, Aavas Housing Finance, and Shriram Housing Finance.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.