Hello Om, I can tell you about the ICICI Bank vs HDFC Bank home loan, which is better. I was comparing several banks while looking for a home loan. So, I can share which one is better.
ICICI vs HDFC Home Loan?
I am sharing a few details about the home loan of HDFC and ICICI below.
| ICICI | HDFC |
The eligible age is 20 to 65 years for salaried and 21 to 70 years for self-employed individuals. |
The eligible age for a home loan is between 21 to 65 years. |
The minimum salary required is Rs. 25,000 per month. |
The minimum salary required is Rs. 10,000 per month. |
You get up to Rs. 5 crores of loan amount. |
You get a loan amount up to Rs. 10 crore. |
The interest rate ranges between 9.25% and 10.05%. |
Interest rate ranges between 8.75% and 9.95%. |
The processing fee is 0.50% plus the applicable taxes |
The processing fee starts at 0.50% of the loan amount plus taxes depending on the type of home loan. |
The maximum tenure is 30 years. |
The maximum loan tenure is 30 years. |
So, this will help you decide between HDFC home loan vs ICICI home loan. I recommend you see your priorities and then make a decision.
If your importance lies on interest rate, you can understand which one to pick between home loan interest rate ICICI vs HDFC through this.
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Hey,
Purchasing a house requires conducting in-depth research on the best available loan in the market. Home loans with minimal documentation and low-interest rates are preferred by borrowers. To stay ahead of the curve, you need to check for closing costs and other miscellaneous charges as well. I will share with you HDFC or ICICI home loan which is better.
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Which home loan is better: HDFC or ICICI?Both ICICI and HDFC Bank offer attractive home loans to borrowers. To help you compare the features of both the leading banks, I have made this table. Take a look to know more.
Particulars |
HDFC Home Loan |
ICICI Home Loan |
Age of Primary Applicant |
18-65 years |
21-65 years |
Profession |
Salaried/Self Employed |
Salaried/Self Employed |
Maximum Funding |
Up to Rs. 10 crore |
Up to Rs. 5 crore |
Processing Fees |
0.50% of the amount or Rs. 3,000 plus GST
(whichever is higher) |
0.50% – 1% of the amount plus GST |
Nationality |
Resident Indian |
Resident Indian |
Repayment Tenor |
Up to 30 years |
Up to 30 years |
Interest Rates |
8.60% to 9.50% |
8.60% to 9.60% |
Documents Required |
KYC, Income Proof, property documents, bank statements, signed the application form, a cheque for processing fee |
KYC, Income Proof, property documents, bank statements, signed the application form, a cheque for processing fee |
The amount available for a Home Loan depends on a number of factors including age, income, credit score, and a number of applicants. Lenders may have their own eligibility criteria for the same. The answer to HDFC or ICICI home loan which is better may be subjective. I prefer HDFC bank because of their quick customer service.
Read more:
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Authors Of The Question
HDFC or ICICI home loan Which is Better?
Om
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1 Year
2022-12-27T13:35:00+00:00 2024-06-24T14:29:20+00:00Comment
2 Answers
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