Home Loan Comparison
RBL Bank Home Loan vs Bajaj Finance Home Loan
Introduction
Securing a home loan can be overwhelming. To simplify your choice between RBL Bank Home Loan and Bajaj Finance Home Loan, we'll compare their interest rates, loan flexibility, and additional benefits, ensuring you find the best fit for your home purchase.
Bank Highlights
RBL Bank Home Loan
- Housing Loans of up to INR 15 Crores
- Attractive interest rates
- Tax benefits up to 3.5 lakhs*
- Flexibility Tailored for You.
- Easy top up loans in future.
Bajaj Finance Home Loan
- Low-Interest Rates
- Approval in 48 Hours
- No Foreclosure Fee for individuals
- Hassle Free Application
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
RBL Bank vs Bajaj 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
Choosing between RBL Bank and Bajaj Finance involves a careful look at their interest rates. RBL Bank offers rates of 9.00%-11.00%, appealing to those who want lower monthly obligations. In contrast, Bajaj Finance has rates of 7.99% - 15.00%, which may offer better long-term financial benefits.
Loan Tenure
RBL Bank provides a loan tenure of up to Max 30 years, ideal for borrowers who prefer spreading out their payments. Bajaj Finance, however, offers up to Max 40 Years, which can help reduce the overall interest paid by shortening the repayment period.
Maximum Loan Amount
When it comes to the maximum loan amount, RBL Bank allows you to borrow up to Upto 15 Cr, making it suitable for high-end property purchases. Bajaj Finance caps the loan at Upto 5cr, fitting those who are investing in more moderately priced homes.
Processing Fees
Processing fees vary between the two banks. RBL Bank imposes a fee of Up to 1.5% of the loan amount or up to Rs 15,000, whereas Bajaj Finance charges Up to 4% of the loan amount. It's essential to consider these fees as part of your initial loan expenses.
Conclusion
In conclusion, to find a home loan that meets your financial plans, you should assess critical aspects such as the interest rate, eligibility conditions, loan term lengths, the highest loan amounts available, and processing fees. By comparing these features between RBL Bank and Bajaj Finance, you can decide on the option that best fits your needs.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.