Home Loan Comparison
Kotak Mahindra Home Loan vs Punjab National Bank Home Loan vs Federal Bank Home Loan vs L&T Housing Finance Home Loan
Introduction
When choosing a home loan, it's essential to understand your options. Compare Kotak Mahindra, Punjab National Bank, Federal Bank, and L&T 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
Punjab National Bank Home Loan
- Flexibility in Documentation
- High Tenure Loan
- Fund upto 90% of Property Value
- Great Offerings for Loan Against Property
- Quick Sanction and Disbursement
- Customised Eligibility as per Income
Federal Bank Home Loan
- Repayment holiday up to 36 months.
- Optional funding for life insurance
- No pre closure charges
- Maximum funding for your dream house -85% of the project cost.
- Easy top up loans in future.
L&T Housing Finance Home Loan
- Digitized Process
- Dedicated Relationship Manager
- Lowest Down Payment
- 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 Punjab National Bank vs Federal Bank vs L&T Housing Finance Calculations
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Feature Comparison
Rate of Interest
When comparing home loans from Kotak Mahindra, Punjab National Bank, Federal Bank, and L&T Housing Finance, interest rates are a key factor. Kotak Mahindra provides rates of 8.65% - 9.85%, appealing to those wanting lower monthly payments. Punjab National Bank offers rates of 8.50% - 11.05%, which may result in greater long-term savings. Federal Bank features rates of 9.15%-11.00%, offering flexibility for different financial plans. L&T Housing Finance presents rates of 8.65%- 11.00%, suitable for borrowers seeking competitive terms.
Loan Tenure
Kotak Mahindra allows loan tenures up to Max 30 Years, helping minimise the monthly financial burden. Punjab National Bank offers loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment schedule. Federal Bank provides loan tenures up to Max 30 years, ideal for those who wish to settle their loan faster. L&T 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. Punjab National Bank caps at Upto 5cr, fitting for standard housing investments. Federal Bank offers up to Upto 15cr, perfect for more affordable real estate endeavours. L&T 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, Punjab National Bank charges up to 1% for Home Loan, Federal Bank requires Low processing fees, and L&T Housing Finance sets its fee at Up to 3% of sanctioned 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, Punjab National Bank, Federal Bank, and L&T Housing Finance.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.