Home Loan Comparison
SBI Home Loan vs Axis Bank Home Loan vs Union Bank Of India Home Loan vs HSBC Home Loan
Introduction
Securing a home loan doesn't have to be daunting. We'll break down the offerings from SBI, Axis Bank, Union Bank Of India, and HSBC, highlighting their rates, repayment options, and unique perks. This comparison will help you identify which bank aligns best with your home-buying goals.
Bank Highlights
SBI Home Loan
- Low Processing charges. No hidden costs.
- No Prepayment penalties
- Home loan also available as an overdraft.
- Interest Calculation on Daily Reducing Balance
- Wide Product Range
Axis Bank Home Loan
- Competitive Interest Rates
- Hassle Free Loan Balance Transfer
- No Prepayment Charges
- Transparent Processing
- Flexible Tenure
Union Bank Of India Home Loan
- Zero processing charges
- Attractive interest rates
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
HSBC Home Loan
- Lower EMI Options
- Transparent Terms and Conditions
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
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
SBI vs Axis Bank vs Union Bank Of India vs HSBC Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When exploring home loan options from SBI, Axis Bank, Union Bank Of India, and HSBC, it's important to compare their interest rates. SBI offers competitive rates of 8.00% - 9.70%, which can help reduce your monthly payments. Axis Bank provides rates of 8.75% - 10.30%, potentially offering better savings over the loan period. Union Bank Of India presents rates of 7.35%-10.75%, ideal for borrowers looking for adaptable financing solutions. HSBC offers rates of 8.75%-11.00%, which may provide the lowest initial costs.
Loan Tenure
SBI offers loan tenures extending up to Max 30 Years, perfect for those who prefer lower monthly obligations. Axis Bank provides loan periods up to Max 30 Years, balancing repayment duration and financial flexibility. Union Bank Of India allows loan tenures up to Max 30 years, suitable for borrowers aiming to repay their loan more quickly. HSBC extends tenures up to Max 25 years, catering to various repayment preferences.
Maximum Loan Amount
Regarding the maximum loan amount, SBI grants loans up to Upto 5cr, making it suitable for purchasing premium properties. Axis Bank offers a ceiling of Upto 5cr, ideal for standard home investments. Union Bank Of India supports loans up to Upto 5cr, catering to more modest property acquisitions. HSBC provides up to Upto 60 crore, accommodating diverse property values.
Processing Fees
Processing fees are an important consideration. SBI charges 0.35% of the loan amount, Axis Bank levies 1% of the loan amount + GST or a minimum of Rs 10,000, Union Bank Of India imposes 0.50% of the loan amount subject to a maximum of Rs. 15000 plus GST, and HSBC requires 1% of the loan amount sanctioned or INR10,000, whichever is higher. These fees should be included in your initial cost calculations when selecting the most cost-effective loan option.
Conclusion
For a choice that best suits your financial objectives, evaluate key aspects such as interest rates, eligibility requirements, loan terms, maximum loan limits, and processing fees offered by SBI, Axis Bank, Union Bank Of India, and HSBC in their home loan products.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.