Home Loan Comparison
ICICI Bank Home Loan vs Ujjivan Small Finance Bank Home Loan vs Hinduja Housing Finance Home Loan
Introduction
Finding the right home loan doesn't have to be stressful. Let's compare ICICI Bank, Ujjivan Small Finance Bank, and Hinduja Housing Finance to see which one suits you best. All three offer loans to both salaried and self-employed individuals and cover different property types. Your unique situation will determine the best fit. Let's look at what each bank brings to the table.
Bank Highlights
ICICI Bank Home Loan
- Generous Loan Amount
- Flexible Tenure
- No Foreclosure Charges
- Minimal Documentation
- Instant Provisional Sanction
Ujjivan Small Finance Bank Home Loan
- Easy documentation
- Lower EMIs
- Fast approval and disbursement
- Smooth, hassle-free process
- Flexible policies
Hinduja Housing Finance Home Loan
- Fast track approval process
- Balance Transfer facility
- Flexibility Tailored for You
- Dedicated Customer Support
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
ICICI Bank vs Ujjivan Small Finance Bank vs Hinduja Housing Finance Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When exploring home loan options among ICICI Bank, Ujjivan Small Finance Bank, and Hinduja Housing Finance, the interest rate is a pivotal factor. ICICI Bank offers a competitive rate of 8.50% - 10.00%, making it appealing for those who prefer lower monthly instalments. Ujjivan Small Finance Bank provides rates of 8.75% - 16.75%, which might lead to considerable savings over the loan's duration. Hinduja Housing Finance presents rates of 10.50%-15.00%, potentially offering the most economical choice based on your financial goals.
Loan Tenure
The length of the loan term can significantly affect your repayment schedule. ICICI Bank offers a maximum tenure of Max 30 Years, ideal for borrowers seeking to minimise their monthly payments. Ujjivan Small Finance Bank allows for a tenure of up to Max 20 years, striking a balance between the loan period and total interest paid. Hinduja Housing Finance provides a tenure of Max 25 years., suitable for those who aim to repay their loan sooner.
Maximum Loan Amount
Your required loan amount is crucial in selecting the right bank. ICICI Bank extends loans up to Upto 5cr, suitable for purchasing high-end properties. Ujjivan Small Finance Bank offers a maximum amount of Upto 75 Lakhs, catering to mid-range investments. Hinduja Housing Finance provides loans up to Upto 1 cr, perfect for smaller property acquisitions.
Processing Fees
Initial costs like processing fees can impact your loan's overall affordability. ICICI Bank charges a fee of 0.50% of the loan amount, which could influence your starting expenses. Ujjivan Small Finance Bank imposes a processing fee of ₹ 3,350 + GST applicable (Non – refundable), while Hinduja Housing Finance sets its fee at Rs. 4,600. Comparing these fees is essential to understand the upfront costs involved.
Conclusion
Making a wise choice between the home loans from ICICI Bank, Ujjivan Small Finance Bank, and Hinduja Housing Finance involves a careful look at their specific terms. Focus on comparing interest rates, eligibility requirements, loan durations, the highest loan amounts available, and processing fees to select the loan that best suits your financial situation.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.