Home Loan Comparison
Mahindra Housing Finance vs Canara Bank
Introduction
Our comparison of Mahindra Housing Finance Home Loan and Canara Bank Home Loan reveals initial similarities: both are available to a diverse range of applicants and accommodate every property type. However, determining the right choice depends on who will use the home loan. Consider this as we proceed to examine each option in detail.
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 Canara Bank Calculations
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Feature Comparison
Rate of Interest
When deciding between Mahindra Housing Finance Home Loan and Canara Bank Home Loan, it’s crucial to consider what each offers. Mahindra Housing Finance’s competitive interest rate of 9.30% - 11.80% is great for those who want to reduce their monthly payments, while Canara Bank’s 9% - 13% could be advantageous for long-term savers
Loan Tenure
With Mahindra Housing Finance Home Loan, enjoy the flexibility of stretching your loan payments up to Max 25 years Years, perfect for those who need a longer period. On the other hand, Canara Bank Home Loan provides a shorter maximum tenure of up to Max 30 Years Years, catering to those who wish to settle their loans quickly.
Maximum Loan Amount
With Mahindra Housing Finance Home Loan, you can secure up to Upto 1.5 Cr for purchasing upscale properties. Canara Bank Home Loan offers up to Upto 5cr, making it a good option for moderate real estate investments
Processing Fees
Finally, consider the processing fees, as they affect your initial expenses. Mahindra Housing Finance Home Loan imposes a fee of 1% + Taxes, while Canara Bank Home Loan applies a fee of Rs 10000 + GST, potentially impacting your upfront loan costs.
Conclusion
Review the comprehensive details—interest rate, eligibility, loan duration, maximum loan value, and processing fees—of Mahindra Housing Finance Home Loan and Canara Bank Home Loan to make a knowledgeable decision that fits your financial strategy
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.