Home Loan Comparison
Kotak Mahindra Home Loan vs TATA Capital Home Loan vs Aditya Birla Housing Finance Ltd Home Loan vs Cholamandalam Home Loan
Introduction
When choosing a home loan, it's essential to understand your options. Compare Kotak Mahindra, TATA Capital, Aditya Birla Housing Finance Ltd, and Cholamandalam 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
TATA Capital Home Loan
- Digital Application Process
- Instant Provisional Sanction
- Online Prepayments are Easy and simple
- Minimal Documentation
- Approval in 48 Hours
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
Cholamandalam Home Loan
- Minimum Documentation
- Personalised Doorstep Service
- Fast track approval process
- Balance Transfer with better interest rates
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 TATA Capital vs Aditya Birla Housing Finance Ltd vs Cholamandalam Calculations
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Feature Comparison
Rate of Interest
When comparing home loans from Kotak Mahindra, TATA Capital, Aditya Birla Housing Finance Ltd, and Cholamandalam, interest rates are a key factor. Kotak Mahindra provides rates of 7.99% - 12.00%, appealing to those wanting lower monthly payments. TATA Capital offers rates of 7.70% - 10%, which may result in greater long-term savings. Aditya Birla Housing Finance Ltd features rates of 8.25% - 11.85%, offering flexibility for different financial plans. Cholamandalam presents rates of 10.00%-15.00%, suitable for borrowers seeking competitive terms.
Loan Tenure
Kotak Mahindra allows loan tenures up to Max 30 Years, helping minimise the monthly financial burden. TATA Capital offers loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment schedule. Aditya Birla Housing Finance Ltd provides loan tenures up to Max 30 years, ideal for those who wish to settle their loan faster. Cholamandalam 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. TATA Capital caps at Upto 5cr, fitting for standard housing investments. Aditya Birla Housing Finance Ltd offers up to Upto 5cr, perfect for more affordable real estate endeavours. Cholamandalam 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, TATA Capital charges upto 2% of loan amount+ GST, Aditya Birla Housing Finance Ltd requires Up to 1.75% of the loan amount, and Cholamandalam sets its fee at Up to Rs 5,000 (including GST). 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, TATA Capital, Aditya Birla Housing Finance Ltd, and Cholamandalam.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.