Loan comparison of Sundaram Home Finance Home Loan vs Mahindra & Mahindra Financial Services Limited Home Loan

Interest Rate

6.95% onwards per annum
11.5% onwards per annum

Loan Amount

Up to Rs. 3 Cr
Up to 85% of project cost

Loan Tenure

Up to 20 Years
Up to 10 to 20 Years

Loan Processing fees

Rs. 3,000 + GST PF (for salaried)
1.75% - 3.5% of Sanction amount

EMI per Lakh

Rs. 772 Per Lakh
Rs. 1406 Per Lakh

Part Payment Charges

NIL
N/A

Minimum Income

Rs. 20,000 and above
Consistency and regularity in the income; Rs. 10,000- Rs. 25,000 per month and above

Documents

General documents are: 

* Aadhaar Card/Driving Licence/PAN Card/Passport/Voter ID Card/Bank Passbook with photo

* Photo Credit Card

* Any other Photo ID 

For Salaried the extra documents required are: 

* Salary Slips from past 6  months 

* Last 6 months Bank Statements showing salary credits

* Latest Form-16 and IT returns

For Self Employed the extra documents required are:

* Last 12 months GST Returns

* Last 6 months Bank Statements

 * Last 3 years IT returns                                                                                                            

* Duly filled application form

* Passport size photographs

* Proof of Identity such as PAN Card, Aadhaar Card, Passport, Voter’s ID Card, Driving License, Voter’s ID Card, etc.

* Proof of Residence such as Aadhaar Card, Passport, Voter’s ID Card, Driving License, Utility Bills, Voter’s ID Card, etc.

* Property Documents such as Agreement of Sale, Ownership Deed, House Tax Receipt, Power of Attorney, etc.


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