L&T Housing Finance Home Loan vs Mahindra Housing Finance Home Loan

Feature Comparison

When selecting between L&T Housing Finance and Mahindra Housing Finance 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, Mahindra Housing Finance provides rates of 9.30% - 11.80%, which might result in greater savings over the duration of the loan.

L&T Housing Finance extends loan tenures up to Max 25 years., which is perfect for borrowers who prefer smaller monthly payments. Conversely, Mahindra Housing Finance allows loan periods of up to Max 25 years, catering to individuals who wish to pay off their loan more quickly and reduce the total interest burden.

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, Mahindra Housing Finance limits the loan amount to Upto 1.5 Cr, making it ideal for buyers looking at more affordable housing options.

Processing fees are another important consideration. L&T Housing Finance charges a flat fee of Up to 3% of sanctioned amount, whereas Mahindra Housing Finance levies a fee of 1% + Taxes. 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 Mahindra Housing Finance will help you make a well-informed choice tailored to your financial goals.