Home Loan Comparison
Kotak Mahindra Home Loan vs ICICI Bank Home Loan vs IDFC First Bank Home Loan vs Aditya Birla Housing Finance Ltd Home Loan
Introduction
When choosing a home loan, it's essential to understand your options. Compare Kotak Mahindra, ICICI Bank, IDFC First Bank, and Aditya Birla Housing Finance Ltd 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
ICICI Bank Home Loan
- Generous Loan Amount
- Flexible Tenure
- No Foreclosure Charges
- Minimal Documentation
- Instant Provisional Sanction
IDFC First Bank Home Loan
- Minimal documentation, tailor-made loans
- Up to 100% top-up at the same rate as balance transfers
- Enhanced eligibility for salaried & self-employed customers
- Digital process for availing loans up to ₹10 crore and tenure up to 30 years
Aditya Birla Housing Finance Ltd Home Loan
- •Doorstep service by dedicated Relationship Manager
- Wide Loan amount range
- Flexible repayment period
- Complimentary Home beautification services
- Wide array of eligibility methods
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 ICICI Bank vs IDFC First Bank vs Aditya Birla Housing Finance Ltd Calculations
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Feature Comparison
Rate of Interest
When comparing home loans from Kotak Mahindra, ICICI Bank, IDFC First Bank, and Aditya Birla Housing Finance Ltd, interest rates are a key factor. Kotak Mahindra provides rates of 7.99% - 12.00%, appealing to those wanting lower monthly payments. ICICI Bank offers rates of 8.55% - 10.00%, which may result in greater long-term savings. IDFC First Bank features rates of 9.40% - 14%, offering flexibility for different financial plans. Aditya Birla Housing Finance Ltd presents rates of 8.25% - 11.85%, suitable for borrowers seeking competitive terms.
Loan Tenure
Kotak Mahindra allows loan tenures up to Max 30 Years, helping minimise the monthly financial burden. ICICI Bank offers loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment schedule. IDFC First Bank provides loan tenures up to Max 30 Years, ideal for those who wish to settle their loan faster. Aditya Birla Housing Finance Ltd extends tenures up to Max 30 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. ICICI Bank caps at Upto 5cr, fitting for standard housing investments. IDFC First Bank offers up to Upto 5 Cr, perfect for more affordable real estate endeavours. Aditya Birla Housing Finance Ltd provides loans up to Upto 5cr, 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, ICICI Bank charges 0.50% of the loan amount, IDFC First Bank requires Up to 3% of loan amount, and Aditya Birla Housing Finance Ltd sets its fee at Up to 1.75% of the loan amount. 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, ICICI Bank, IDFC First Bank, and Aditya Birla Housing Finance Ltd.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.