Home Loan Comparison
IDFC First Bank Home Loan vs LIC HFL Home Loan vs Punjab National Bank Home Loan vs Jana Small Finance Bank Home Loan
Introduction
Securing a home loan doesn't have to be daunting. We'll break down the offerings from IDFC First Bank, LIC HFL, Punjab National Bank, and Jana Small Finance 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
LIC HFL Home Loan
- Online Home loan sanction facility
- Quick sanction and low EMI
- Takeover or balance transfer of existing Home Loans Possible
- No Pre-Payment Penalty
Punjab National Bank Home Loan
- Flexibility in Documentation
- High Tenure Loan
- Fund upto 90% of Property Value
- Great Offerings for Loan Against Property
- Quick Sanction and Disbursement
- Customised Eligibility as per Income
Jana Small Finance Bank Home Loan
- Lower EMI Options
- Transparent Terms and Conditions
- Dedicated Customer Support
- Fast Approval and Disbursement
- 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
IDFC First Bank vs LIC HFL vs Punjab National Bank vs Jana Small Finance Bank Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When exploring home loan options from IDFC First Bank, LIC HFL, Punjab National Bank, and Jana Small Finance 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. LIC HFL provides rates of 8.00% - 10.75%, potentially offering better savings over the loan period. Punjab National Bank presents rates of 8.50% - 11.05%, ideal for borrowers looking for adaptable financing solutions. Jana Small Finance Bank offers rates of 9.75% - 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. LIC HFL provides loan periods up to Max 30 Years, balancing repayment duration and financial flexibility. Punjab National Bank allows loan tenures up to Max 30 Years, suitable for borrowers aiming to repay their loan more quickly. Jana Small Finance 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. LIC HFL offers a ceiling of Upto 5cr, ideal for standard home investments. Punjab National Bank supports loans up to Upto 5cr, catering to more modest property acquisitions. Jana Small Finance Bank provides up to Upto 3 Cr, accommodating diverse property values.
Processing Fees
Processing fees are an important consideration. IDFC First Bank charges Up to 3% of loan amount, LIC HFL levies Rs 0.25% of the loan amount + GST, Punjab National Bank imposes up to 1% for Home Loan, and Jana Small Finance Bank requires 0.5%-2% of the loan amount + GST applicable. 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, LIC HFL, Punjab National Bank, and Jana Small Finance Bank in their home loan products.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.