Home Loan Comparison
IIFL Home Loan vs Piramal Capital & Housing Finance Home Loan vs Union Bank Of India Home Loan
Introduction
Finding the perfect home loan doesn't have to be complicated. We're here to compare the home loan offerings from IIFL, Piramal Capital & Housing Finance, and Union Bank Of India. These banks cater to different employment types and property categories. Your ideal choice will hinge on your specific situation. Let's dive into the details of each to see which one fits you best.
Bank Highlights
IIFL Home Loan
- Customized repayment solutions
- All round assistance
- No prepayment charges
- Door step services
- Minimal documentation
Piramal Capital & Housing Finance Home Loan
- •Easy Procedures
- Flexibility Of Repayment
- Home Loan EMI That Fits Your Pocket
- Minimal documentation
Union Bank Of India Home Loan
- Zero processing charges
- Attractive interest rates
- 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
IIFL vs Piramal Capital & Housing Finance vs Union Bank Of India Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When comparing home loan offerings from IIFL, Piramal Capital & Housing Finance, and Union Bank Of India, interest rates are a key consideration. IIFL provides rates of 8.75% - 10.5%, which can lead to lower monthly payments. Piramal Capital & Housing Finance offers rates of 9.50% - 10.5%, potentially resulting in greater long-term savings. Union Bank Of India has interest rates of 8.50%-9.50%, offering flexibility for different financial strategies.
Loan Tenure
IIFL offers loan tenures up to Max 30 years, ideal for reducing monthly financial commitments. Piramal Capital & Housing Finance provides loan periods up to Max 30 years, catering to those who prefer a balanced repayment schedule. Union Bank Of India allows loan tenures up to Max 30 years, perfect for borrowers aiming to repay their loans more quickly.
Maximum Loan Amount
For the maximum loan amount, IIFL extends up to Upto 5cr, making it suitable for purchasing premium properties. Piramal Capital & Housing Finance caps loans at Upto 5cr, fitting for standard home investments. Union Bank Of India offers loans up to Upto 5cr, catering to more modest real estate purchases.
Processing Fees
Processing fees differ across banks. IIFL charges Up to 1.75% of the loan amount, Piramal Capital & Housing Finance imposes Upto 5% of loan amount + applicable taxes, and Union Bank Of India sets its fee at 0.50% of the loan amount subject to a maximum of Rs. 15000 plus GST. These fees should be factored into your initial loan costs to determine the most cost-effective option.
Conclusion
To find the most suitable home loan among IIFL, Piramal Capital & Housing Finance, and Union Bank Of India, it's crucial to examine the specific features each bank offers. By evaluating factors such as interest rates, eligibility conditions, loan durations, maximum borrowing amounts, and processing fees, you can make an informed decision that aligns with your financial plans and helps you achieve your dream of owning a home.
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