Home Loan Comparison
Equitas Small Finance Bank Home Loan vs Jana Small Finance Bank Home Loan vs HSBC Home Loan vs Federal Bank Home Loan
Introduction
Buying a home is a major milestone, and finding the right loan is key. Let's explore what Equitas Small Finance Bank, Jana Small Finance Bank, HSBC, and Federal Bank offer in terms of interest rates, loan terms, and special benefits. By comparing their features, you can make an informed decision that fits your financial situation.
Bank Highlights
Equitas Small Finance Bank Home Loan
- Enjoy affordable EMI
- Get speedy approvals
- Pay at your convenience with flexible repayments
- Get loan of up to ₹300 Lakhs
Jana Small Finance Bank Home Loan
- Lower EMI Options
- Transparent Terms and Conditions
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
HSBC Home Loan
- Lower EMI Options
- Transparent Terms and Conditions
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
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
Equitas Small Finance Bank vs Jana Small Finance Bank vs HSBC vs Federal Bank Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When selecting a home loan among Equitas Small Finance Bank, Jana Small Finance Bank, HSBC, and Federal Bank, it's essential to assess the interest rates. Equitas Small Finance Bank offers rates of 11.00% - 14.00%, making it attractive for lower monthly instalments. Jana Small Finance Bank provides rates of 9.75% - 11.00%, potentially yielding better long-term benefits. Meanwhile, HSBC has rates of 8.25%-11.00%, suitable for borrowers seeking flexibility. Federal Bank offers rates of 9.15%-11.00%, ideal for those prioritizing competitive initial rates.
Loan Tenure
Equitas Small Finance Bank extends loan tenures up to Max 20 years, ideal for minimising monthly financial strain. Jana Small Finance Bank allows up to Max 30 years, catering to those who prefer a balanced repayment period. HSBC offers up to Max 25 years, perfect for borrowers aiming for quicker loan settlement. Federal Bank provides loan tenures up to Max 30 years, offering additional flexibility for repayment plans.
Maximum Loan Amount
For maximum loan amounts, Equitas Small Finance Bank supports up to Upto 3cr, ideal for high-value property purchases. Jana Small Finance Bank caps at Upto 3 Cr, suitable for standard investments. HSBC provides up to Upto 60 crore, fitting for modest real estate ventures. Federal Bank offers loans up to Upto 15cr, accommodating a wide range of property values.
Processing Fees
Processing fees vary across banks. Equitas Small Finance Bank charges Up to 2% on the sanctioned home loan, Jana Small Finance Bank imposes 0.5%-2% of the loan amount + GST applicable, HSBC requires 1% of the loan amount sanctioned or INR10,000, whichever is higher, and Federal Bank sets its fee at Low processing fees. It's crucial to factor these fees into your initial loan costs.
Conclusion
To make an informed decision that aligns with your financial goals, carefully consider these crucial factors—interest rates, eligibility criteria, loan tenure, maximum loan amount, and processing fees—of the home loan products from Equitas Small Finance Bank, Jana Small Finance Bank, HSBC, and Federal Bank.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.