Home Loan Comparison
LIC HFL Home Loan vs Aadhar Housing Finance Ltd. Home Loan vs Union Bank Of India Home Loan
Introduction
Choosing the right home loan can be overwhelming with so many options available. In this comparison, we'll look at home loans from LIC HFL, Aadhar Housing Finance Ltd., and Union Bank Of India. All three banks offer loans to both salaried and self-employed individuals and cover various property types. The best loan for you depends on your personal needs and circumstances. Let's explore what each bank has to offer to help you make an informed decision.
Bank Highlights
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
Aadhar Housing Finance Ltd. Home Loan
- •Home loans available without
- income proof
- Fast and transparent loan procedure
- Affordable EMIs
- Tax benefits under
- section 80C
Union Bank Of India Home Loan
- Zero processing charges
- Attractive interest rates
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
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
LIC HFL vs Aadhar Housing Finance Ltd. vs Union Bank Of India Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When evaluating home loan options from LIC HFL, Aadhar Housing Finance Ltd., and Union Bank Of India, consider their interest rates carefully. LIC HFL offers rates of 8.50% - 10.75%, which can lead to lower monthly payments. Aadhar Housing Finance Ltd. provides rates of 8.75-10.5%, potentially offering better savings over the life of the loan. Union Bank Of India has rates of 8.50%-10.75%, suitable for borrowers needing adaptable financing terms.
Loan Tenure
LIC HFL provides loan tenures up to Max 30 Years, ideal for reducing monthly financial commitments. Aadhar Housing Finance Ltd. offers loan durations up to Max 30 years, balancing repayment terms with financial flexibility. Union Bank Of India allows loan periods up to Max 30 years, perfect for those aiming to repay their loans more swiftly.
Maximum Loan Amount
In terms of maximum loan amounts, LIC HFL offers up to Upto 5cr, making it ideal for purchasing luxury properties. Aadhar Housing Finance Ltd. caps loans at Upto 5cr, suitable for standard home investments. Union Bank Of India provides loans up to Upto 5cr, catering to more modest real estate purchases.
Processing Fees
Processing fees are an important consideration. LIC HFL charges Rs 0.25% of the loan amount + GST, Aadhar Housing Finance Ltd. imposes Up to Rs.3500 Plus Applicable GST, and Union Bank Of India sets its fee at 0.50% of the loan amount subject to a maximum of Rs. 15000 plus GST. These fees should be factored into your initial loan costs to determine the most economical option.
Conclusion
Making the right choice among the home loans offered by LIC HFL, Aadhar Housing Finance Ltd., and Union Bank Of India involves a detailed evaluation of several critical factors. By thoroughly assessing interest rates, eligibility requirements, loan tenures, maximum loan amounts, and processing fees, you can select a loan that best aligns with your financial goals and facilitates a smooth path to homeownership.
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