Axis Bank and HDFC are the two leading providers that are most popular in the country. Both banks provide a wide range of home loan products to meet the unique requirements of their customer base. Moreover, there are extensive benefits offered by both providers. The table below provides a detailed comparison between Axis Bank home loan and HDFC home loan, to help customers make an informed decision.
| Category | Axis Bank Home Loan | HDFC Ltd Home Loan |
| Purpose | Axis Bank home loans can be used for buying a new home/plot or renovating/expanding an existing property. There are multiple home loan schemes which can be used for distinctive purposes. | HDFC Ltd. housing loans can be availed for buying a new flat, ready to move-in house, or plot from MHADA, DDA, etc. The loan can also be used for home construction, extension and renovation. |
| Eligible Profiles | Resident and Non-Resident Salaried and Self-Employed Individuals | Resident and Non-Resident Salaried and Self-Employed Individuals |
| Age Criteria | Minimum: 21 years Maximum: 65 years |
Minimum: 18 years Maximum: 65 years |
| Loan Amount | Up to Rs. 5 crore or Up to 90% of property value |
Up to Rs.10 crore or Up to 90% of property value |
| Loan Tenure | Up to 30 years | Up to 30 years |
| Rate of Interest | 6.75% – 11.50% | 6.90% onwards |
| Processing fee | Up to 1% of the loan amount, subject to a minimum of Rs. 10,000 + GST | Up to 0.50% of the loan amount or Rs.3,000 (whichever is higher) |
| Prepayment charges | No prepayment charges for floating rates | No prepayment charges for floating rates |
| Features & Benefits | ● Affordable rate of interest ● Dedicated home loan scheme for NRIs ● Flexible repayment tenure ● Swift loan processing ● Availability of Top-up, overdraft and balance transfer facilities ● No hidden charges ● Generous Tax benefits |
● Interest rate concession to women borrowers ● Flexible loan repayment options ● Easy documentation process ● No hidden charges ● Attractive Tax benefits ● Availability of Top-up, overdraft and balance transfer facilities |
| Documents Required | ● Duly filled in and signed Axis Bank Home Loan Application Form ● Proof of Identity ● Proof of Address ● Proof of Age ● Signature Proof ● Proof of income ● Lease Rental Discounting ● Processing fee cheque in the name of the bank ● National Automated Clearance House (NACH) mandate/SI form and SPDC Note: Original documents are required for verification purpose only. Also, the above list is indicative. Additional documents may be asked by the lender on a case-to-case basis. |
● Completed HDFC home loan application form ● Three passport size photographs ● Employer Identity Card (for salaried applicants) ● Proof of Identity ● Proof of Residence ● Property Documents ● Account Statement: Last 6 months’ bank account statements ● Proof of Income Note: Original documents are required for verification purpose only. Also, the above list is indicative. Additional documents may be asked by the lender on a case-to-case basis. |
| Home Loan Schemes | ● Regular Home Loan ● QuikPay Home Loan ● Power Advantage Home Loan ● Shubh Aarambh Home Loan ● Fast Forward Home Loan ● Asha Home Loan ● Empower Home Loan ● Super Saver Home Loan ● Pradhan Mantri Awas Yojana/CLSS |
● Regular Home Loan ● HDFC Reach Logan ● Plot Loan ● Rural Housing Loan ● Home Improvement Loan ● Home Extension Loan ● Top-Up Loan ● Balance Transfer ● Loans for NRI/PIO ● Pradhan Mantri Awas Yojana/CLSS |
| Customer Service | ● Toll-Free Number: 1860 419 5555/1860 500 555 |
● Missed Call Service: +91-9289200017 ● SMS: HDFCHOME to 56767 |
| How to Apply | ● Fill the form by providing relevant details like the loan amount, city of the property, tenure, etc. ● On filling all the required details, click on the ‘Proceed’ button Soon, a representative from Paisabazaar will contact you on the provided contact number to process your application. |
● Fill the form by providing relevant details like the loan amount, city of the property, tenure, etc. ● On filling all the required details, click on the ‘Proceed’ button Soon, a representative from Paisabazaar will contact you on the provided contact number to process your application. |
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Taking into account the above facts and figures, both banks provide almost a similar set of services and benefits. To choose one amongst the two, it totally depends on a customer’s preference and how he/she weighs one provider to another.
Comparing multiple providers and then choosing is the ideal approach towards finding the desired home loan. This also helps customers to enhance their product knowledge and stay up-to-date with the current market conditions. Alternatively, to save themselves from such a hassle, customers may:
- Visit the Home Loan page at Paisabazaar.com
- Fill in the necessary information about the loan amount required, the type of home loan required, etc.
- Provide more details regarding your home loan requirements and personal information such as the cost of the property, your full name, date of birth, etc.
- Select the checkbox to agree on the terms and conditions
- Click the ‘Unlock Best Offers’ button to proceed
Best home loan offers according to the applicant’s eligibility will appear. Compare and apply for the best home loan offer as desired.
Also Check: Housing Loan Interest Rates