Kotak Mahindra Home Loan vs TATA Capital Home Loan vs Punjab National Bank Home Loan vs South Indian Bank Home Loan

Feature Comparison

When comparing home loans from Kotak Mahindra, TATA Capital, Punjab National Bank, and South Indian Bank, interest rates are a key factor. Kotak Mahindra provides rates of 8.75% - 9.85%, appealing to those wanting lower monthly payments. TATA Capital offers rates of 8.75% - 10%, which may result in greater long-term savings. Punjab National Bank features rates of 8.50% - 11.05%, offering flexibility for different financial plans. South Indian Bank presents rates of 8.70% to 11.70%, suitable for borrowers seeking competitive terms.

Kotak Mahindra allows loan tenures up to Max 30 Years, helping minimise the monthly financial burden. TATA Capital offers loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment schedule. Punjab National Bank provides loan tenures up to Max 30 Years, ideal for those who wish to settle their loan faster. South Indian Bank extends tenures up to Max 30 years, providing additional options for repayment.

For the maximum loan amount, Kotak Mahindra extends up to Upto 5cr, suitable for high-end property purchases. TATA Capital caps at Upto 5cr, fitting for standard housing investments. Punjab National Bank offers up to Upto 5cr, perfect for more affordable real estate endeavours. South Indian Bank provides loans up to Upto 15cr, accommodating a broad range of property prices.

Processing fees differ among the banks. Kotak Mahindra imposes 0.5% - 1.00% of the loan amount, TATA Capital charges upto 2% of loan amount+ GST, Punjab National Bank requires up to 1% for Home Loan, and South Indian Bank sets its fee at 0.50% of the loan amount, with a minimum amount of Rs.10000.00. It's essential to account for these fees when calculating your overall loan expenses.

Conclusion

To ensure your home loan selection meets your financial needs, thoroughly review the critical elements—interest rates, eligibility conditions, loan tenures, maximum loan amounts, and processing fees—across the offerings from Kotak Mahindra, TATA Capital, Punjab National Bank, and South Indian Bank.