Home Loan Comparison
Punjab National Bank Home Loan vs IDFC First Bank Home Loan
Introduction
Finding the best home loan doesn't have to be difficult. Let's take a closer look at what Punjab National Bank and IDFC First Bank offer, comparing their rates, loan terms, and customer services to help you select the loan that best suits your financial goals.
Bank Highlights
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
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
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
Punjab National Bank vs IDFC First Bank Calculations
Calculator
Home Loan EMI Calculator
WhatsApp UsLoan Amount
₹ 0
Interest Amount
₹ 0
Total Payable
₹ 0
Monthly EMI
₹ 0
Your Amortization details(Yearly/Monthly)
Feature Comparison
Rate of Interest
When comparing home loans from Punjab National Bank and IDFC First Bank, the interest rates are a key consideration. Punjab National Bank provides rates of 8.50% - 11.05%, appealing to those who want to keep their monthly payments low. In contrast, IDFC First Bank offers rates of 8.85% - 14%, which might result in more significant savings over the life of the loan.
Loan Tenure
Punjab National Bank extends loan tenures up to Max 30 Years, ideal for borrowers seeking lower monthly commitments. On the other hand, IDFC First Bank offers tenures up to Max 30 Years, which can help reduce the total interest paid by shortening the repayment period.
Maximum Loan Amount
Punjab National Bank allows a maximum loan amount of Upto 5cr, making it suitable for purchasing high-value or luxury properties. IDFC First Bank limits the loan amount to Upto 5 Cr, catering to those interested in more affordable housing options.
Processing Fees
Processing fees differ between the two banks. Punjab National Bank charges a fee of up to 1% for Home Loan, whereas IDFC First Bank imposes a fee of Up to 3% of loan amount. It's important to include these fees when assessing the overall cost of your home loan.
Conclusion
To make an educated choice that supports your financial aspirations, it's important to consider essential components such as interest rates, eligibility guidelines, loan durations, maximum loan amounts, and processing fees. By analyzing these aspects of the home loans offered by Punjab National Bank and IDFC First Bank, you can select the option that aligns best with your objectives.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.