Home Loan Comparison
IDFC First Bank Home Loan vs Equitas Small Finance Bank Home Loan vs Jana Small Finance Bank Home Loan vs Federal Bank Home Loan
Introduction
Securing a home loan doesn't have to be daunting. We'll break down the offerings from IDFC First Bank, Equitas Small Finance Bank, Jana Small Finance Bank, and Federal Bank, highlighting their rates, repayment options, and unique perks. This comparison will help you identify which bank aligns best with your home-buying goals.
Bank Highlights
IDFC First Bank Home Loan
- Minimal documentation, tailor-made loans
- Up to 100% top-up at the same rate as balance transfers
- Enhanced eligibility for salaried & self-employed customers
- Digital process for availing loans up to ₹10 crore and tenure up to 30 years
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
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
IDFC First Bank vs Equitas Small Finance Bank vs Jana Small Finance Bank vs Federal Bank Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When exploring home loan options from IDFC First Bank, Equitas Small Finance Bank, Jana Small Finance Bank, and Federal Bank, it's important to compare their interest rates. IDFC First Bank offers competitive rates of 8.85% - 14%, which can help reduce your monthly payments. Equitas Small Finance Bank provides rates of 11.00% - 14.00%, potentially offering better savings over the loan period. Jana Small Finance Bank presents rates of 9.75% - 11.00%, ideal for borrowers looking for adaptable financing solutions. Federal Bank offers rates of 9.15%-11.00%, which may provide the lowest initial costs.
Loan Tenure
IDFC First Bank offers loan tenures extending up to Max 30 Years, perfect for those who prefer lower monthly obligations. Equitas Small Finance Bank provides loan periods up to Max 20 years, balancing repayment duration and financial flexibility. Jana Small Finance Bank allows loan tenures up to Max 30 years, suitable for borrowers aiming to repay their loan more quickly. Federal Bank extends tenures up to Max 30 years, catering to various repayment preferences.
Maximum Loan Amount
Regarding the maximum loan amount, IDFC First Bank grants loans up to Upto 5 Cr, making it suitable for purchasing premium properties. Equitas Small Finance Bank offers a ceiling of Upto 3cr, ideal for standard home investments. Jana Small Finance Bank supports loans up to Upto 3 Cr, catering to more modest property acquisitions. Federal Bank provides up to Upto 15cr, accommodating diverse property values.
Processing Fees
Processing fees are an important consideration. IDFC First Bank charges Up to 3% of loan amount, Equitas Small Finance Bank levies Up to 2% on the sanctioned home loan, Jana Small Finance Bank imposes 0.5%-2% of the loan amount + GST applicable, and Federal Bank requires Low processing fees. These fees should be included in your initial cost calculations when selecting the most cost-effective loan option.
Conclusion
For a choice that best suits your financial objectives, evaluate key aspects such as interest rates, eligibility requirements, loan terms, maximum loan limits, and processing fees offered by IDFC First Bank, Equitas Small Finance Bank, Jana Small Finance Bank, and Federal Bank in their home loan products.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.