Home Loan Comparison
LIC HFL Home Loan vs Equitas Small Finance Bank Home Loan vs Repco Home Finance 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, Equitas Small Finance Bank, and Repco Home Finance. 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
Equitas Small Finance Bank Home Loan
- Enjoy affordable EMI
- Get speedy approvals
- Pay at your convenience with flexible repayments
- Get loan of up to ₹300 Lakhs
Repco Home Finance Home Loan
- Fast track approval process
- Balance Transfer facility
- Flexibility Tailored for You
- Dedicated Customer Support
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 Equitas Small Finance Bank vs Repco Home Finance Calculations
Calculator
Home Loan EMI Calculator
WhatsApp UsLoan Amount
₹ 0
Interest Amount
₹ 0
Total Payable
₹ 0
Monthly EMI
₹ 0
Your Amortization details(Yearly/Monthly)
Feature Comparison
Rate of Interest
When evaluating home loan options from LIC HFL, Equitas Small Finance Bank, and Repco Home Finance, consider their interest rates carefully. LIC HFL offers rates of 8.50% - 10.75%, which can lead to lower monthly payments. Equitas Small Finance Bank provides rates of 11.00% - 14.00%, potentially offering better savings over the life of the loan. Repco Home Finance has rates of 10.10-15.00%, 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. Equitas Small Finance Bank offers loan durations up to Max 20 years, balancing repayment terms with financial flexibility. Repco Home Finance 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. Equitas Small Finance Bank caps loans at Upto 3cr, suitable for standard home investments. Repco Home Finance provides loans up to Upto 10 cr, 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, Equitas Small Finance Bank imposes Up to 2% on the sanctioned home loan, and Repco Home Finance sets its fee at 1.00% of the loan amount. 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, Equitas Small Finance Bank, and Repco Home Finance 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.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.