Axis bank is one of the leading home loan lenders in the country. Their exemplary loan products clubbed with their immaculate customer service has made it the go-to bank for home loans. Axis bank home loans can be availed either by visiting one of their several branches in the country or can be availed online as well. One of their competitors in the home loan market is undoubtedly ICICI bank. Like Axis bank, ICICI bank too offers top of the line home loan products, and is one of the most renowned banks in the country. The vast network that the bank contains and the competitive interest rates make it one of the biggest players in the home loan market. Sometimes, it can be a strenuous task to choose between the banks mentioned above. This article will provide you with an in-depth comparison of the home loan details provided by both the banks.
Both the banks are on the top of the home loan market and also have many accolades associated with their name. Their similarities with regard to accomplishments and their vast network that spreads throughout the country can make it quite a task to decide on which bank to avail your home loan from.
|Category||Axis bank||ICICI bank|
|Purpose||Axis bank provides home loan products to various types of individuals like salaried, self-employed, NRIs, etc., depending on their requirements||Home loan products offered by ICICI bank can be catered to a wide array of persons depending on their profession, repayment capacity, country of residence, etc.|
|Loan amount||Rs.5 lakh – Rs.10 crore||Rs.5 lakh – Rs.10 crore|
|Rate of interest||8.35% – 11.75% p.a.||8.50% - 8.85% p.a.|
|Loan tenure||1 year – 30 years||3 years – 30 years|
|Eligibility||Applicant must be at least 24 years of age and not more than 65 years of age||Applicant must be at least 21 years of age and not more than 65 years of age|
|Processing fee||0.5% of the loan amount up to a maximum of Rs.10,000||0.5% of the loan amount up to a maximum of Rs.11,800|
|Application process||You can either apply for a loan online or by visiting one of their branches||You can either apply for a loan online or by visiting one of their branches|
It is important to compare home loans before applying for one, as it will give you an insight on the charges and hidden details, if any. Going through this table can help you understand the differences between the banks and can also guide you in choosing the right bank for your home loan depending on your income, profession, needs, etc.
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