Home Loan Comparison
ICICI Bank Home Loan vs Union Bank Of India Home Loan vs Federal Bank Home Loan vs Can Fin Home Loan
Introduction
Finding the right home loan can make a significant difference in your home-buying experience. Let's compare the offerings from ICICI Bank, Union Bank Of India, Federal Bank, and Can Fin, focusing on their interest rates, loan terms, and additional benefits. This comparison will help you choose the loan that best fits your needs.
Bank Highlights
ICICI Bank Home Loan
- Generous Loan Amount
- Flexible Tenure
- No Foreclosure Charges
- Minimal Documentation
- Instant Provisional Sanction
Union Bank Of India Home Loan
- Zero processing charges
- Attractive interest rates
- 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.
Can Fin 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 Union Bank Of India vs Federal Bank vs Can Fin Calculations
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Feature Comparison
Rate of Interest
When exploring home loan options among ICICI Bank, Union Bank Of India, Federal Bank, and Can Fin, the interest rate is a pivotal factor. ICICI Bank offers rates of 8.75% - 10.00%, making it appealing for those who prefer lower monthly instalments. Union Bank Of India provides rates of 8.50%-10.75%, which might lead to considerable savings over the loan's duration. Federal Bank presents rates of 8.80%-11.00%, potentially offering the most economical choice based on your financial goals. Can Fin offers rates of 9.60% - 14.85%, which could be the best fit for cost-conscious borrowers.
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. Union Bank Of India allows for a tenure of up to Max 30 years, striking a balance between the loan period and total interest paid. Federal Bank provides a tenure of Max 30 years, suitable for those who aim to repay their loan sooner. Can Fin extends tenures up to Max 30 years, offering flexibility for different repayment goals.
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. Union Bank Of India offers a maximum amount of Upto 5cr, catering to mid-range investments. Federal Bank provides loans up to Upto 15cr, perfect for smaller property acquisitions. Can Fin offers maximum loans of Upto 10 cr, accommodating a variety of property values.
Processing Fees
Initial costs like processing fees can impact your loan's overall affordability. ICICI Bank charges 0.50% of the loan amount, which could influence your starting expenses. Union Bank Of India imposes 0.50% of the loan amount subject to a maximum of Rs. 15000 plus GST, Federal Bank sets its fee at Low processing fees, and Can Fin requires 1.00% of the loan amount. Comparing these fees is essential to understand the overall expenses involved.
Conclusion
Making a wise choice between the home loans from ICICI Bank, Union Bank Of India, Federal Bank, and Can Fin 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.