Loan comparison of Sundaram Home Finance Home Loan vs Muthoot Housing Finance Ltd Home Loan

Interest Rate

6.95% onwards per annum
12-19% per annum

Loan Amount

Up to Rs. 3 Cr
Up to Rs. 75,000 to Rs. 25 Lakhs or Rs. 2 Lakhs to Rs. 30 Lakhs

Loan Tenure

Up to 20 Years
Up to 3 to 20 Years

Loan Processing fees

Rs. 3,000 + GST PF (for salaried)
2.5% of the loan amount approved

EMI per Lakh

Rs. 772 Per Lakh
Rs.1101 Per Lakh

Part Payment Charges

NIL
NIL

Minimum Income

Rs. 20,000 and above
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                                                                                                            

PROOF OF RESIDENCE:

* Ration Card/Passport/Driving Licence/Voter's ID Card

* Bank Account Statement

* Current Telephone / Electricity / Gas Bill / Water Bill / Property Tax

PROOF OF IDENTITY:

* Passport/Driving Licence/Aadhar Card (UIDAI)

* Letter confirming identity from a commercial bank

* Employee ID Card issued by Central / State Government undertaking

* Voter’s ID Card/Pan Card

SALARIED INDIVIDUAL

* Salary Slip of last 3 months

* Bank Statement for the last 12 months

* ITR for last 2 years if available

BUSINESS INDIVIDUAL

* Business ownership proof documents like license, rent agreement of shop etc.

* Income documents like purchase bills, sales bills, sales register etc.

* Bank statement for last 12 months

* ITR for last 2 years if available


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