Owing to the fact that a home loan is a long-term commitment, it is vital that you get a suitable deal. However, considering the number of offers, you are spoilt for choice and many are attractive deals. This is why it is important to compare your loan offers and zero in on the best one for you.
Home Loan Interest Rates from Leading Lenders
Here is a table to help you compare the offers from some of the top lenders in India.
| Lender | Interest Rate |
| HDFC Home Loan | 8.70% onwards |
| Bajaj Housing Finance Limited | 8.50% onwards |
| ICICI Bank | 9.00% onwards |
| Kotak Mahindra Bank | 8.70% onwards |
| Bank of India | 8.30% onwards |
| Axis Bank | 8.75% onwards |
| Central Bank of India | 8.50% onwards |
Disclaimer: The rates mentioned above are subject to change at the lender’s discretion.
Keep in mind that lenders revise their offers periodically. For instance, the Bajaj Housing Finance Home Loan interest rate on offer right now won’t be the same in a few months. This is one of the reasons why you should compare lenders.
Important Reasons to Compare Home Loan Lenders
Aside from the changing rates, comparing home loan lenders is the only way to get a suitable offering. Considering that it is a long-term loan, you must ensure that the features align with your needs. Otherwise, you could end up with a loan that isn’t easy to manage or lacks the facilities you need.
Here are a few more reasons why it is crucial to compare lenders.
Highlights the key features of the loan
Lenders offer various loan features and some may have better provisions for the modern borrower. Be it a dedicated Bajaj Markets Loan App, an easy-to-access loan dashboard, or even doorstep services, the features you get make a difference. Comparing lenders helps you learn about these features and assess which of these makes the most sense for you.
Remember, there are a few features that you should definitely look for when availing a home loan. These include:
- Top-up facility
- Digital onboarding and loan dashboard
- Specialised calculators for easy planning
- Quick process and disbursal protocols
- Lengthy tenure options
All of these add a great deal of value to the borrowing experience and minimise hassles right from the start.
Provides insight into the fee structure
Comparing loans helps you assess more than just the interest rate. It also gives you an opportunity to check out the fees that will add to the cost of borrowing. Some of the top things to look for include:
- Processing fees
- Administrative charges
- Verification charges
- Origination fees
Some of these can be quite high and can make a loan offer unfeasible.
Helps you understand the application process
Digital application processes are incredibly convenient and they save a lot of time. However, not all lenders have this provision. Some may still require you to make physical trips to the branch to handle loan processing. This isn’t ideal for all borrowers, especially if you can’t spare time for multiple trips.
Also Read: Bajaj Housing Finance Home Loan Interest Rate: Understanding Your Financial Options
Sheds light on the customer service options
Having dedicated customer service provisions is important to ensuring a hassle-free experience. Comparing helps you check if the lender has all the services you need, including 24×7 support.
A platform you can rely on to find affordable home loan interest rates is Bajaj Markets. As a leading financial marketplace, you get access to exclusive offers, making it a lot easier to find the best deal. On the platform, you can:
- Check loan offers from leading lenders instantly
- Use a home loan EMI and eligibility calculator
- Apply for a home loan completely online
When availing instruments like a home loan, a digital marketplace like Bajaj Markets can help you scout for the best deal with ease. Click here to get started.
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