Punjab National Bank Home Loan vs Equitas Small Finance Bank Home Loan vs South Indian Bank Home Loan vs Ujjivan Small Finance Bank Home Loan

Feature Comparison

When selecting a home loan from Punjab National Bank, Equitas Small Finance Bank, South Indian Bank, or Ujjivan Small Finance Bank, interest rates play a crucial role. Punjab National Bank offers rates of 8.50% - 11.05%, attractive for those looking to minimise monthly payments. Equitas Small Finance Bank provides rates of 11.00% - 14.00%, which might offer better long-term financial benefits. South Indian Bank has rates of 8.30% to 11.70%, offering flexibility for various borrowing needs. Ujjivan Small Finance Bank presents rates of 8.75% - 16.75%, potentially providing the best initial rates.

Punjab National Bank extends loan tenures up to Max 30 Years, ideal for keeping monthly obligations low. Equitas Small Finance Bank allows loan periods up to Max 20 years, catering to borrowers seeking a balanced repayment timeline. South Indian Bank offers loan tenures up to Max 30 years, perfect for those who prefer to clear their loan faster. Ujjivan Small Finance Bank provides tenures up to Max 20 years, offering options for different repayment preferences.

Regarding the maximum loan amount, Punjab National Bank provides loans up to Upto 5cr, suitable for high-value property purchases. Equitas Small Finance Bank caps at Upto 3cr, fitting for standard housing investments. South Indian Bank supports loans up to Upto 15cr, ideal for more affordable real estate acquisitions. Ujjivan Small Finance Bank offers maximum loans of Upto 75 Lakhs, accommodating various property values.

Processing fees vary among the banks. Punjab National Bank charges up to 1% for Home Loan, Equitas Small Finance Bank imposes Up to 2% on the sanctioned home loan, South Indian Bank requires 0.50% of the loan amount, with a minimum amount of Rs.10000.00, and Ujjivan Small Finance Bank sets its fee at ₹ 3,350 + GST applicable (Non – refundable). It's important to include these fees in your initial cost calculations when choosing the best loan option.

Conclusion

When deciding between the home loan options from Punjab National Bank, Equitas Small Finance Bank, South Indian Bank, and Ujjivan Small Finance Bank, it's essential to consider how each product fits your unique financial situation. Focus on comparing key aspects like interest rates, eligibility criteria, loan terms, maximum loan limits, and processing fees to ensure you choose a loan that supports both your current needs and future financial well-being.