HDFC Home Loan Vs LIC Home Loan
Take a well-informed decision about the best home loan for you by comparing home loan interest rates from different banks, such as HDFC vs LIC. Both these financial institutions offer competitive interest rates and attractive features which make it easier and faster to get a home loan approved and your dream home a reality.
By understanding the differences and advantages of each, you can choose the right home loan for your requirements.
Compare HDFC Home Loan Vs LIC Home Loan
Here are the interest rates, processing fees, and other features such as loan amount and tenure of HDFC vs LIC home loans:
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Interest Rate | 8.60% p.a. onwards | 8.30% p.a. onwards |
Processing Fees | For salaried professionals and self-employed professionals - Up to 0.50% of loan amount or Rs.3,000, whichever is higher + taxes For self-employed non-professionals: Up to 1.50% of loan amount or Rs.4,500, whichever is higher + taxes | 0.25% to 0.50% of loan amount subject to Rs.5,000 minimum and Rs.15,000 maximum + GST |
Popular Home Loan Products |
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Retail Lending Rate | 16.05% | LHPLR: 14.60% |
Loan Amount | Contact the bank | Contact the bank |
Loan Tenure | 30 years | 30 years |
Eligibility | Resident Indian Between 21 to 65 years of age | Resident Indians and NRIs Salaried, self-employed, or professionals |
Prepayment Charges | Nil | Nil |
Penal Interest Rates | 24% p.a. | Up to 2% p.m. on defaulted instalment |
Which Bank Offers the Lowest Home Loan Interest Rate - HDFC Vs LIC?
HDFC Home Loans
- Interest Rates: Starting at 6.70% p.a.
- Special Offer: Concessions for women borrowers.
- Loan Variants: Choose from two-year fixed rate or adjustable rate home loans.
- Rate Change Factors: The interest rate varies based on the loan amount and other factors.
LIC Home Loans
- Interest Rates:
- For salaried/professional individuals with a CIBIL score of 700+, interest starts at 6.66% p.a.
- For others, interest rates start at 7.00% p.a.
- If the CIBIL score is below 700, rates start at 7.10% p.a.
- Loan Limit: These rates apply to home loans up to Rs. 50 lakh, with rates varying based on loan amount.
Other Banks Comparison
- SBI Vs BoB Home Loan
- HDFC Vs LIC Home Loan
- HDFC Vs PNB Home Loan
- SBI Vs Union Bank Of India Home Loan
- SBI Maxgain Vs SBI Regular Home Loan
- SBI Home Loan Vs LIC Housing Finance
- Axis Bank Vs SBI Home Loan
- Axis Bank Vs HDFC Bank
- SBI Bank Vs PNB Bank
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