Home Loan Comparison
Equitas Small Finance Bank Home Loan vs Mahindra Housing Finance Home Loan vs Ujjivan Small Finance Bank Home Loan
Introduction
Looking for the right home loan can be tough with so many choices out there. In this guide, we'll compare home loans from Equitas Small Finance Bank, Mahindra Housing Finance, and Ujjivan Small Finance Bank. All three banks offer loans to both salaried and self-employed people and cover different types of properties. But the best option for you depends on your personal needs and financial situation. Let's look at what each bank has to offer so you can make the best choice.
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
Mahindra Housing Finance Home Loan
- Simple documentation
- Smaller EMIs
- Quick sanction & disbursements
- Pleasant & hassle free experience
- Flexible policy
- Extensive Branch Network
Ujjivan Small Finance Bank Home Loan
- Easy documentation
- Lower EMIs
- Fast approval and disbursement
- Smooth, hassle-free process
- Flexible policies
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 Mahindra Housing Finance vs Ujjivan Small Finance 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, Mahindra Housing Finance, and Ujjivan Small Finance 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. Mahindra Housing Finance provides rates of 9.30% - 11.80%, potentially yielding better long-term benefits. Meanwhile, Ujjivan Small Finance Bank has rates of 9.50% - 11.70%, suitable for borrowers seeking flexibility.
Loan Tenure
Equitas Small Finance Bank extends loan tenures up to Max 20 years, ideal for minimising monthly financial strain. Mahindra Housing Finance allows up to Max 25 years, catering to those who prefer a balanced repayment period. Ujjivan Small Finance Bank offers up to Max 20 years, perfect for borrowers aiming for quicker loan settlement.
Maximum Loan Amount
For maximum loan amounts, Equitas Small Finance Bank supports up to Upto 3cr, ideal for high-value property purchases. Mahindra Housing Finance caps at Upto 1.5 Cr, suitable for standard investments. Ujjivan Small Finance Bank provides up to Upto 75 Lakhs, fitting for modest real estate ventures.
Processing Fees
Processing fees vary across banks. Equitas Small Finance Bank charges Up to 2% on the sanctioned home loan, Mahindra Housing Finance imposes 1% + Taxes, and Ujjivan Small Finance Bank requires ₹ 3,350 + GST applicable (Non – refundable). 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, Mahindra Housing Finance, and Ujjivan Small Finance Bank.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.