Home Loan Comparison
IDFC First Bank Home Loan vs IIFL Home Loan vs Sammaan Capital Home Loan vs Shriram Housing Finance Home Loan
Introduction
Securing a home loan doesn't have to be daunting. We'll break down the offerings from IDFC First Bank, IIFL, Sammaan Capital, and Shriram Housing Finance, 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
IIFL Home Loan
- Customized repayment solutions
- All round assistance
- No prepayment charges
- Door step services
- Minimal documentation
Sammaan Capital Home Loan
- •Customized repayment solutions
- All round assistance
- No prepayment charges
- Door step services
- Minimal documentation
Shriram Housing Finance Home Loan
- Flexible Repayment
- Easy Documentation
- Life insurance cover is offered to housing loan borrowers
- Dedicated Relationship Manager
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 IIFL vs Sammaan Capital vs Shriram Housing Finance Calculations
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Feature Comparison
Rate of Interest
When exploring home loan options from IDFC First Bank, IIFL, Sammaan Capital, and Shriram Housing Finance, 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. IIFL provides rates of 8.75% - 10.5%, potentially offering better savings over the loan period. Sammaan Capital presents rates of 8.75% - 10.5%, ideal for borrowers looking for adaptable financing solutions. Shriram Housing Finance offers rates of 9.50% - 10.5%, 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. IIFL provides loan periods up to Max 30 years, balancing repayment duration and financial flexibility. Sammaan Capital allows loan tenures up to Max 30 years, suitable for borrowers aiming to repay their loan more quickly. Shriram Housing Finance extends tenures up to Max 25 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. IIFL offers a ceiling of Upto 5cr, ideal for standard home investments. Sammaan Capital supports loans up to Upto 5cr, catering to more modest property acquisitions. Shriram Housing Finance provides up to Upto 10 Cr, accommodating diverse property values.
Processing Fees
Processing fees are an important consideration. IDFC First Bank charges Up to 3% of loan amount, IIFL levies Up to 1.75% of the loan amount, Sammaan Capital imposes 0.50% onwards of loan amount, and Shriram Housing Finance requires Up to 2.5% of the loan amount plus applicable taxes.. 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, IIFL, Sammaan Capital, and Shriram Housing Finance in their home loan products.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.