Home Loan Comparison
Canara Bank Home Loan vs Punjab National Bank Home Loan vs Sammaan Capital Home Loan vs Federal Bank Home Loan
Introduction
When choosing a home loan, it's essential to understand your options. Compare Canara Bank, Punjab National Bank, Sammaan Capital, and Federal Bank to see how they differ in terms of interest rates, loan flexibility, and customer service. This guide will assist you in selecting the loan that best meets your needs.
Bank Highlights
Canara Bank Home Loan
- No upper limit on housing loan quantum
- No Prepayment penalty
- Minimal processing charges
- Complimentary Credit Card
- Reducing Balance Interest Rate
Punjab National Bank Home Loan
- Flexibility in Documentation
- High Tenure Loan
- Fund upto 90% of Property Value
- Great Offerings for Loan Against Property
- Quick Sanction and Disbursement
- Customised Eligibility as per Income
Sammaan Capital Home Loan
- •Customized repayment solutions
- All round assistance
- No prepayment charges
- Door step services
- Minimal documentation
Federal Bank Home Loan
- Repayment holiday up to 36 months.
- Optional funding for life insurance
- No pre closure charges
- Maximum funding for your dream house -85% of the project cost.
- Easy top up loans in future.
Disclaimer
The interest rates, maximum tenures, and other charges are subject to change, and it's advisable to check with our experts for the most current information.
Home Loan Calculations
Canara Bank vs Punjab National Bank vs Sammaan Capital vs Federal Bank Calculations
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Feature Comparison
Rate of Interest
When comparing home loans from Canara Bank, Punjab National Bank, Sammaan Capital, and Federal Bank, interest rates are a key factor. Canara Bank provides rates of 7.90% - 10.75%, appealing to those wanting lower monthly payments. Punjab National Bank offers rates of 8.50% - 11.05%, which may result in greater long-term savings. Sammaan Capital features rates of 8.75% - 15.00%, offering flexibility for different financial plans. Federal Bank presents rates of 9.15%-11.00%, suitable for borrowers seeking competitive terms.
Loan Tenure
Canara Bank allows loan tenures up to Upto 30 years or upto 75 years of age of the borrower, whichever is earlier., helping minimise the monthly financial burden. Punjab National Bank offers loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment schedule. Sammaan Capital provides loan tenures up to Max 30 years, ideal for those who wish to settle their loan faster. Federal Bank extends tenures up to Max 30 years, providing additional options for repayment.
Maximum Loan Amount
For the maximum loan amount, Canara Bank extends up to Upto 5cr, suitable for high-end property purchases. Punjab National Bank caps at Upto 5cr, fitting for standard housing investments. Sammaan Capital offers up to Upto 5cr, perfect for more affordable real estate endeavours. Federal Bank provides loans up to Upto 15cr, accommodating a broad range of property prices.
Processing Fees
Processing fees differ among the banks. Canara Bank imposes 0.50% (Min Rs.1500/-+GST and Max. Rs.10,000/-), Punjab National Bank charges up to 1% for Home Loan, Sammaan Capital requires 0.50% onwards of loan amount, and Federal Bank sets its fee at Low processing fees. It's essential to account for these fees when calculating your overall loan expenses.
Conclusion
To ensure your home loan selection meets your financial needs, thoroughly review the critical elements—interest rates, eligibility conditions, loan tenures, maximum loan amounts, and processing fees—across the offerings from Canara Bank, Punjab National Bank, Sammaan Capital, and Federal Bank.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.