Home Loan Comparison
L&T Housing Finance Home Loan vs Axis Bank Home Loan
Introduction
Choosing the right home loan is essential for your financial future. In this comparison between L&T Housing Finance Home Loan and Axis Bank Home Loan, we'll explore their loan terms, eligibility criteria, and customer support to help you make an informed decision.
Bank Highlights
L&T Housing Finance Home Loan
- Digitized Process
- Dedicated Relationship Manager
- Lowest Down Payment
- Flexibility Tailored for You.
- Easy top up loans in future.
Axis Bank Home Loan
- Competitive Interest Rates
- Hassle Free Loan Balance Transfer
- No Prepayment Charges
- Transparent Processing
- Flexible Tenure
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
L&T Housing Finance vs Axis Bank Calculations
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Feature Comparison
Rate of Interest
When selecting between L&T Housing Finance and Axis Bank for your home loan, evaluating the interest rates is crucial. L&T Housing Finance offers rates of 8.65%- 11.00%, making it an attractive choice for those aiming to keep their monthly instalments low. On the other hand, Axis Bank provides rates of 8.75% - 10.30%, which might result in greater savings over the duration of the loan.
Loan Tenure
L&T Housing Finance extends loan tenures up to Max 25 years., which is perfect for borrowers who prefer smaller monthly payments. Conversely, Axis Bank allows loan periods of up to Max 30 Years, catering to individuals who wish to pay off their loan more quickly and reduce the total interest burden.
Maximum Loan Amount
In terms of the maximum loan amount, L&T Housing Finance permits loans up to Upto 10 Cr, suitable for purchasing luxury or high-value properties. Meanwhile, Axis Bank limits the loan amount to Upto 5cr, making it ideal for buyers looking at more affordable housing options.
Processing Fees
Processing fees are another important consideration. L&T Housing Finance charges a flat fee of Up to 3% of sanctioned amount, whereas Axis Bank levies a fee of 1% of the loan amount + GST or a minimum of Rs 10,000. These fees should be taken into account when calculating the overall cost of your home loan.
Conclusion
Selecting the right home loan involves careful consideration of important elements like interest rates, qualification requirements, loan durations, maximum loan limits, and any associated processing charges. Reviewing these factors in the offerings from L&T Housing Finance and Axis Bank will help you make a well-informed choice tailored to your financial goals.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.