Home Loan Comparison
Kotak Mahindra Home Loan vs Bajaj Finance Home Loan vs TATA Capital Home Loan vs Mahindra Housing Finance Home Loan
Introduction
When choosing a home loan, it's essential to understand your options. Compare Kotak Mahindra, Bajaj Finance, TATA Capital, and Mahindra 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
Bajaj Finance Home Loan
- Low-Interest Rates
- Approval in 48 Hours
- No Foreclosure Fee for individuals
- Hassle Free Application
TATA Capital Home Loan
- Digital Application Process
- Instant Provisional Sanction
- Online Prepayments are Easy and simple
- Minimal Documentation
- Approval in 48 Hours
Mahindra Housing Finance Home Loan
- Simple documentation
- Smaller EMIs
- Quick sanction & disbursements
- Pleasant & hassle free experience
- Flexible policy
- Extensive Branch Network
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 Bajaj Finance vs TATA Capital vs Mahindra Housing Finance Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When comparing home loans from Kotak Mahindra, Bajaj Finance, TATA Capital, and Mahindra Housing Finance, interest rates are a key factor. Kotak Mahindra provides rates of 8.75% - 9.85%, appealing to those wanting lower monthly payments. Bajaj Finance offers rates of 8.50% - 15.00%, which may result in greater long-term savings. TATA Capital features rates of 8.75% - 10%, offering flexibility for different financial plans. Mahindra Housing Finance presents rates of 9.30% - 11.80%, suitable for borrowers seeking competitive terms.
Loan Tenure
Kotak Mahindra allows loan tenures up to Max 30 Years, helping minimise the monthly financial burden. Bajaj Finance offers loan periods up to Max 40 Years, catering to borrowers seeking a balanced repayment schedule. TATA Capital provides loan tenures up to Max 30 Years, ideal for those who wish to settle their loan faster. Mahindra 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. Bajaj Finance caps at Upto 5cr, fitting for standard housing investments. TATA Capital offers up to Upto 5cr, perfect for more affordable real estate endeavours. Mahindra Housing Finance provides loans up to Upto 1.5 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, Bajaj Finance charges Up to 4% of the loan amount, TATA Capital requires upto 2% of loan amount+ GST, and Mahindra Housing Finance sets its fee at 1% + 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, Bajaj Finance, TATA Capital, and Mahindra Housing Finance.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.