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My uncle works in an HDFC bank. So, when I was confused about LIC vs HDFC home loan, he kept telling me the better features of HDFC home loans. But I knew a close friend who got a home loan through LIC HFL and his entire loan process was smooth.
So, I made a list of the key things I wanted to consider about both the bank’s home loans so that I could make a decision. Let me share the list with you for your help.
These are a few key things you should about when it comes to LIC vs HDFC home loan.
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LIC Home Loan Vs HDFC Home Loan
I will tell you the interest rates, loan-to-property cost, different kinds of home loans offered by both banks and maximum repayment tenure offered by both HDFC bank and LIC HFL.HDFC vs LIC Home Loan
Compare | HDFC Home Loan | LIC Home Loan |
Interest Rate | Policy Repo Rate + 2.90% to 3.45% = 9.40% to 9.95% for both salaried and non-salaried individuals. | -8.50% Up to 2 Crs 8.70% More than 2 Crs and & up to 15 Crs for salaried individuals. -8.60% Up to 2 Crs 8.80% More than 2 Crs and & up to 15 Crs for non-salaried individuals. |
Loan to Property Cost | -Loans up to and including ₹30 lacs- 90% of the property cost -Loans from ₹30.01 lacs to ₹75 lacs- 80% of the property cost -Loans above ₹75 lacs- 75% of the property cost | -90% of Property value for loans up to Rs.30 lakh -80% of Property value for loans more than Rs. 30 lakh and up to Rs.75 lakh -75% of Property value for loan above Rs.75 lakh |
Popular Home Loan Products | -Home Loans -Plot Loans -Rural Housing Loan -Home Renovation Loan -Home Extension Loan -Top-Up Loan -Loan Against Property -Home Loan Balance Transfer -NRI Housing Loans | -Home Loans -Plot Loans -Griha Suvidha Home Loan -Home Loan for NRI -Home Loan for Pensioners -Home Improvement Loan -Home Construction Loan -Home Extension Loan -Top-Up Loans -Home Loan Balance Transfer |
Maximum Repayment Tenure | -The maximum tenure for balance transfer and home loans is thirty years, or until the age of retirement, whichever is lower. -The maximum tenure for home extension loans is 20 years, or until the borrower reaches retirement age, whichever comes first. -The maximum tenure for home renovation and top-up loans is fifteen years, or until the age of retirement, whichever comes first. | -For Salaried up to 30 YEARS -For Self-employed up to 25 YEARS |
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Which is Better LIC Vs HDFC Home Loan?
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2024-05-07T10:58:37+00:00 2024-05-07T10:58:52+00:00Comment
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