Home Loan Comparison
Punjab National Bank Home Loan vs Aavas Housing Finance Home Loan vs Mahindra Housing Finance Home Loan
Introduction
When deciding on a home loan, Punjab National Bank, Aavas Housing Finance, and Mahindra Housing Finance are three of the leading options to consider. Each bank offers competitive interest rates, flexible repayment plans, and supports different property types. This comparison will break down their offerings to help you understand which home loan aligns best with your financial goals.
Bank Highlights
Punjab National Bank Home Loan
- Flexibility in Documentation
- High Tenure Loan
- Fund upto 90% of Property Value
- Great Offerings for Loan Against Property
- Quick Sanction and Disbursement
- Customised Eligibility as per Income
Aavas Housing Finance Home Loan
- Wide Range of Eligible Properties
- Integrated Branch Network
- Loan Amount Flexibility
- Flexible Tenure Options
Mahindra Housing Finance Home Loan
- Simple documentation
- Smaller EMIs
- Quick sanction & disbursements
- Pleasant & hassle free experience
- Flexible policy
- Extensive Branch Network
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
Punjab National Bank vs Aavas Housing Finance vs Mahindra Housing 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 selecting a home loan from Punjab National Bank, Aavas Housing Finance, or Mahindra Housing Finance, interest rates play a crucial role. Punjab National Bank offers rates of 8.50% - 11.05%, attractive for those looking to minimise monthly payments. Aavas Housing Finance provides rates of 8.50-10.5%, which might offer better long-term financial benefits. Mahindra Housing Finance has rates of 9.30% - 11.80%, offering flexibility for various borrowing needs.
Loan Tenure
Punjab National Bank extends loan tenures up to Max 30 Years, ideal for keeping monthly obligations low. Aavas Housing Finance allows loan periods up to Max 30 years, catering to borrowers seeking a balanced repayment timeline. Mahindra Housing Finance offers loan tenures up to Max 25 years, perfect for those who prefer to clear their loan faster.
Maximum Loan Amount
Regarding the maximum loan amount, Punjab National Bank provides loans up to Upto 5cr, suitable for high-value property purchases. Aavas Housing Finance caps at Upto 3cr, fitting for standard housing investments. Mahindra Housing Finance supports loans up to Upto 1.5 Cr, ideal for more affordable real estate acquisitions.
Processing Fees
Processing fees vary among the banks. Punjab National Bank charges up to 1% for Home Loan, Aavas Housing Finance imposes Up to 2% + GST, and Mahindra Housing Finance requires 1% + Taxes. It's important to include these fees in your initial cost calculations when choosing the best loan option.
Conclusion
When deciding between the home loan options from Punjab National Bank, Aavas Housing Finance, and Mahindra Housing Finance, it's essential to consider how each product fits your unique financial situation. Focus on comparing key aspects like interest rates, eligibility criteria, loan terms, maximum loan limits, and processing fees to ensure you choose a loan that supports both your current needs and future financial well-being.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.