Home Loan Comparison
Punjab National Bank Home Loan vs SBI Home Loan vs HDFC Home Loan
Introduction
When deciding on a home loan, Punjab National Bank, SBI, and HDFC are three of the leading options to consider. Each bank offers competitive interest rates, flexible repayment plans, and supports different property types. This comparison will break down their offerings to help you understand which home loan aligns best with 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
SBI Home Loan
- Low Processing charges. No hidden costs.
- No Prepayment penalties
- Home loan also available as an overdraft.
- Interest Calculation on Daily Reducing Balance
- Wide Product Range
HDFC Home Loan
- Great Customer Service
- Process is Simple and Online
- Certain Restrictions on Online Prepayments
- Competitive Interest Rates
- Multi Branch Banking
- Non Salaried Cases Take Time
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 SBI vs HDFC Calculations
Calculator
Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When selecting a home loan from Punjab National Bank, SBI, or HDFC, interest rates play a crucial role. Punjab National Bank offers rates of 8.50% - 11.05%, attractive for those looking to minimise monthly payments. SBI provides rates of 8.00% - 9.70%, which might offer better long-term financial benefits. HDFC has rates of 8.75% - 9.65%, offering flexibility for various borrowing needs.
Loan Tenure
Punjab National Bank extends loan tenures up to Max 30 Years, ideal for keeping monthly obligations low. SBI allows loan periods up to Max 30 Years, catering to borrowers seeking a balanced repayment timeline. HDFC offers loan tenures up to Max 30 Years, perfect for those who prefer to clear their loan faster.
Maximum Loan Amount
Regarding the maximum loan amount, Punjab National Bank provides loans up to Upto 5cr, suitable for high-value property purchases. SBI caps at Upto 5cr, fitting for standard housing investments. HDFC supports loans up to 6cr - 10cr, ideal for more affordable real estate acquisitions.
Processing Fees
Processing fees vary among the banks. Punjab National Bank charges up to 1% for Home Loan, SBI imposes 0.35% of the loan amount, and HDFC requires Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher. 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, SBI, and HDFC, 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.
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