Home Loan Comparison
Kotak Mahindra Home Loan vs Bank Of India Home Loan vs LIC HFL Home Loan vs Equitas Small Finance Bank Home Loan
Introduction
When choosing a home loan, it's essential to understand your options. Compare Kotak Mahindra, Bank Of India, LIC HFL, and Equitas Small Finance Bank 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
Bank Of India Home Loan
- Low Interest Rates
- No Hidden Charges
- Minimal Documentation
- Apply Online
- Finish up the process in 15 minutes
LIC HFL Home Loan
- Online Home loan sanction facility
- Quick sanction and low EMI
- Takeover or balance transfer of existing Home Loans Possible
- No Pre-Payment Penalty
Equitas Small Finance Bank Home Loan
- Enjoy affordable EMI
- Get speedy approvals
- Pay at your convenience with flexible repayments
- Get loan of up to ₹300 Lakhs
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 Bank Of India vs LIC HFL vs Equitas Small Finance Bank Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When comparing home loans from Kotak Mahindra, Bank Of India, LIC HFL, and Equitas Small Finance Bank, interest rates are a key factor. Kotak Mahindra provides rates of 8.65% - 9.85%, appealing to those wanting lower monthly payments. Bank Of India offers rates of 7.85% - 11%, which may result in greater long-term savings. LIC HFL features rates of 8.00% - 10.75%, offering flexibility for different financial plans. Equitas Small Finance Bank presents rates of 11.00% - 14.00%, suitable for borrowers seeking competitive terms.
Loan Tenure
Kotak Mahindra allows loan tenures up to Max 30 Years, helping minimise the monthly financial burden. Bank Of India offers loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment schedule. LIC HFL provides loan tenures up to Max 30 Years, ideal for those who wish to settle their loan faster. Equitas Small Finance Bank extends tenures up to Max 20 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. Bank Of India caps at Upto 5cr, fitting for standard housing investments. LIC HFL offers up to Upto 5cr, perfect for more affordable real estate endeavours. Equitas Small Finance Bank provides loans up to Upto 3cr, 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, Bank Of India charges 0.25% of the loan amount + GST upto Rs 20,000, LIC HFL requires Rs 0.25% of the loan amount + GST, and Equitas Small Finance Bank sets its fee at Up to 2% on the sanctioned home loan. 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, Bank Of India, LIC HFL, and Equitas Small Finance Bank.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.