Home Loan Comparison
Kotak Mahindra Home Loan vs Mahindra Housing Finance Home Loan vs RBL Bank Home Loan
Introduction
Securing a home loan involves careful consideration of different banks' offerings. Kotak Mahindra, Mahindra Housing Finance, and RBL Bank are three prominent financial institutions that cater to a wide range of borrowers. This comparison focuses on their loan amounts, interest rates, and customer service to help you choose the most suitable home loan for your financial profile.
Bank Highlights
Kotak Mahindra Home Loan
- Attractive Interest Rates
- Minimal Documentation
- 50% off on processing fees for all digital applications
- Customizable Tenure
Mahindra Housing Finance Home Loan
- Simple documentation
- Smaller EMIs
- Quick sanction & disbursements
- Pleasant & hassle free experience
- Flexible policy
- Extensive Branch Network
RBL Bank Home Loan
- Housing Loans of up to INR 15 Crores
- Attractive interest rates
- Tax benefits up to 3.5 lakhs*
- Flexibility Tailored for You.
- Easy top up loans in future.
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 Mahindra Housing Finance vs RBL Bank Calculations
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Feature Comparison
Rate of Interest
When comparing home loans from Kotak Mahindra, Mahindra Housing Finance, and RBL Bank, interest rates are a key factor. Kotak Mahindra provides rates of 8.65% - 9.85%, appealing to those wanting lower monthly payments. Mahindra Housing Finance offers rates of 9.30% - 11.80%, which may result in greater long-term savings. RBL Bank features rates of 9.00%-11.00%, offering flexibility for different financial plans.
Loan Tenure
Kotak Mahindra allows loan tenures up to Max 30 Years, helping minimise the monthly financial burden. Mahindra Housing Finance offers loan periods up to Max 25 years, catering to borrowers seeking a balanced repayment schedule. RBL Bank provides loan tenures up to Max 30 years, ideal for those who wish to settle their loan faster.
Maximum Loan Amount
For the maximum loan amount, Kotak Mahindra extends up to Upto 5cr, suitable for high-end property purchases. Mahindra Housing Finance caps at Upto 1.5 Cr, fitting for standard housing investments. RBL Bank offers up to Upto 15 Cr, perfect for more affordable real estate endeavours.
Processing Fees
Processing fees differ among the banks. Kotak Mahindra imposes 0.5% - 1.00% of the loan amount, Mahindra Housing Finance charges 1% + Taxes, and RBL Bank requires Up to 1.5% of the loan amount or up to Rs 15,000. 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, Mahindra Housing Finance, and RBL Bank.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.