anuragmukherjee28
Moderator
this table will help you to decide the best bank for taking a home loan
| Lender | Interest Rate (p.a.) | Processing Fee | Max Amount | Max Tenure | Other Legal Charges | Any Other Charges (Loan Closure, Prepayment, etc) |
| Axis Bank | Fixed Rate - 14.00% Floating Rate - 9.10% - 9.40% | Upto 1% of the loan amount (min INR 10,000/-) + GST | 5 CR | 30 years | No | Prepayment charges - 2% Penal interest - 24% Re-Pricing charges - 1% (min - 10,000) (Floating to Fixed) 2% (min - 10,000) (Fixed to Floating ) |
| LIC Housing Finance | Floating Rate - 8.45% - 9.60% | 0% - 0.50% + GST | 15 CR | 30 years | Yes. (INR 3,000 - 7,500) | Document Retrieval Charges -Rs.2,500 Providing List of Documents -Rs.500 Photocopies of Title Documents -Rs.1,000 Late EMI Payment Charges -1.5% - 2% p.m |
| Federal Bank | Floating Rate - 10.10% onwards | 0.50% + GST (INR 3,000 to INR 7,500) | 15 CR | 30 years | No | Re-Pricing charges- 0.25% |
| Tata Capital | Fixed Rate - 19.75% Floating Rate - 8.60% onwards | 0.50% + GST. | 5 CR | 30 years | Yes. Negotiable | Delayed EMI Payments - 2% per month variable amount charges Foreclosure Charges Collection Agency charges Legal Charges home loan registration charges MOD charges for home loan PDC charges loan cancellation charges cheque bounce charges account maintenance charges NOI charges for home loans |
| HDFC Home Loan | Floating Rate - 8.45% onwards | Up to 0.50% ( min 3000 )+ GST | 10 CR | 30 years | Yes. Negotiable | Delayed EMI Payments - 2% per month Variable Charges Property Insurance Incidental Charges standard Statutory / Regulatory Charges |
| Indian Overseas Bank | Floating Rate - 8.85% - 9.55% | 0.50% ( max - 25,000 ) | Not Mentioned | 30 years | Yes. Negotiable | standard Statutory / Regulatory Charges + insurance |
| IDBI | Floating Rate - 8.65% - 12.25% | 0.50%+ GST | 10 CR | 30 Years | Yes. (INR 3,000 - 7,500) | log in and account opening charges - 2500 penal interest charges - 5% per annum on the overdue payment Copy of Property Documents - INR 225/- Swapping of PDCs/ECS or change of repayment mode to PDC or ECS - INR 575/- Cheque Return/ ECS Return Charges - INR 300/- Duplicate Statement Charge- INR 115/- Re issuance of PO/DD -INR 115/- Duplicate Certificate / Interest Paid Certificate - INR 150/- Copy of credit information obtained from CIBIL -INR 50/- |
| HSBC | Floating Rate - 8.75% onwards | 1% (min INR 10,000/-) + GST | 4 CR | 25 Years | No. Other Charges like Annual Fees, Commitment Charges of 2-3% | commitment fees - upto 1% conversion fees - 5000 penal interest - 2% per month Annual fee - 1% of the loan amount |
| SBI | Floating Rate - 8.85% - 12.95 | 0.35% - 1.00% + GST | 50 CR | 30 years | Yes. Negotiable | Failed / Non Payment of EMI - Rs.500 + GST per EMI missed. Cheque returned - Rs.225 - Rs.350 + GST Failed SI- Rs.225 + GST per failed SI Conversion charges - 0.50% + GST ( min 5000) variable charges Insurance charges Legal Opinion & Search Report charges Valuation Fee |
| PNB Housing Finance | Floating Rate - 8.75% - 11.85% | 1% (min INR 10,000 ) + GST | Not Mentioned | 30 years | Yes. (INR 5,000 - 10,000) | repayment schedule fees - 500 + gst list of documents fees - 750 + gst pre-closure charges - 750+gst copy of documents - 500 - 1500 interest change from fixed to floating - 3%+gst interest change from floating to fixed - 0.5%+gst custody charges - 1000 + gst swap of property fees - 25,000 + gst cheque bounce charges- variable late payment interest - 2% per month / 24% per year |
