Home Loan Comparison
Mahindra Housing Finance Home Loan vs Bank Of Baroda Home Loan
Introduction
Finding the best home loan doesn't have to be difficult. Let's take a closer look at what Mahindra Housing Finance and Bank Of Baroda offer, comparing their rates, loan terms, and customer services to help you select the loan that best suits your financial goals.
Bank Highlights
Mahindra Housing Finance Home Loan
- Simple documentation
- Smaller EMIs
- Quick sanction & disbursements
- Pleasant & hassle free experience
- Flexible policy
- Extensive Branch Network
Bank Of Baroda Home Loan
- Max savings under Baroda Max Savings Home loan.
- Concession for Women Borrowers- 0.05%
- Nil Processing fee
- Easy Takeover without income documents.
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
Mahindra Housing Finance vs Bank Of Baroda Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When comparing home loans from Mahindra Housing Finance and Bank Of Baroda, the interest rates are a key consideration. Mahindra Housing Finance provides rates of 9.30% - 11.80%, appealing to those who want to keep their monthly payments low. In contrast, Bank Of Baroda offers rates of 8.40% - 10.90%, which might result in more significant savings over the life of the loan.
Loan Tenure
Mahindra Housing Finance extends loan tenures up to Max 25 years, ideal for borrowers seeking lower monthly commitments. On the other hand, Bank Of Baroda offers tenures up to Max 30 Years, which can help reduce the total interest paid by shortening the repayment period.
Maximum Loan Amount
Mahindra Housing Finance allows a maximum loan amount of Upto 1.5 Cr, making it suitable for purchasing high-value or luxury properties. Bank Of Baroda limits the loan amount to Upto 20cr, catering to those interested in more affordable housing options.
Processing Fees
Processing fees differ between the two banks. Mahindra Housing Finance charges a fee of 1% + Taxes, whereas Bank Of Baroda imposes a fee of 0.25%-0.50% of loan amount (Rs 8,500-Rs 25,000). It's important to include these fees when assessing the overall cost of your home loan.
Conclusion
To make an educated choice that supports your financial aspirations, it's important to consider essential components such as interest rates, eligibility guidelines, loan durations, maximum loan amounts, and processing fees. By analyzing these aspects of the home loans offered by Mahindra Housing Finance and Bank Of Baroda, you can select the option that aligns best with your objectives.
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