TATA Capital Home Loan vs Equitas Small Finance Bank Home Loan vs South Indian Bank Home Loan vs RBL Bank Home Loan

Feature Comparison

When comparing home loan offerings from TATA Capital, Equitas Small Finance Bank, South Indian Bank, and RBL Bank, interest rates are a key consideration. TATA Capital provides rates of 8.75% - 10%, which can lead to lower monthly payments. Equitas Small Finance Bank offers rates of 11.00% - 14.00%, potentially resulting in greater long-term savings. South Indian Bank has rates of 8.70% to 11.70%, offering flexibility for different financial strategies. RBL Bank offers rates of 9.00%-11.00%, which may be advantageous for those seeking competitive rates.

TATA Capital offers loan tenures up to Max 30 Years, ideal for reducing monthly financial commitments. Equitas Small Finance Bank provides loan periods up to Max 20 years, catering to those who prefer a balanced repayment schedule. South Indian Bank allows loan tenures up to Max 30 years, perfect for borrowers aiming to repay their loans more quickly. RBL Bank extends tenures up to Max 30 years, offering additional repayment options.

For the maximum loan amount, TATA Capital extends up to Upto 5cr, making it suitable for purchasing premium properties. Equitas Small Finance Bank caps loans at Upto 3cr, fitting for standard home investments. South Indian Bank offers loans up to Upto 15cr, catering to more modest real estate purchases. RBL Bank provides maximum loans of Upto 15 Cr, supporting a diverse range of property investments.

Processing fees differ across banks. TATA Capital charges upto 2% of loan amount+ GST, Equitas Small Finance Bank imposes Up to 2% on the sanctioned home loan, South Indian Bank sets its fee at 0.50% of the loan amount, with a minimum amount of Rs.10000.00, and RBL Bank requires Up to 1.5% of the loan amount or up to Rs 15,000. 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 TATA Capital, Equitas Small Finance Bank, South Indian Bank, and RBL Bank, 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.