Home Loan Comparison
TATA Capital Home Loan vs ICICI Bank Home Loan vs Federal Bank Home Loan vs Grihum Housing Finance Home Loan
Introduction
Choosing the right home loan is crucial for your financial future. We'll analyse the home loan options from TATA Capital, ICICI Bank, Federal Bank, and Grihum Housing Finance, looking at their rates, terms, and customer benefits. This comparison aims to help you find the most suitable loan for your new home.
Bank Highlights
TATA Capital Home Loan
- Digital Application Process
- Instant Provisional Sanction
- Online Prepayments are Easy and simple
- Minimal Documentation
- Approval in 48 Hours
ICICI Bank Home Loan
- Generous Loan Amount
- Flexible Tenure
- No Foreclosure Charges
- Minimal Documentation
- Instant Provisional Sanction
Federal Bank Home Loan
- Repayment holiday up to 36 months.
- Optional funding for life insurance
- No pre closure charges
- Maximum funding for your dream house -85% of the project cost.
- Easy top up loans in future.
Grihum Housing Finance Home Loan
- Comprehensive Solutions for Every Dream House
- Affordability at its Core
- Financial Freedom, Simplified
- Flexibility Tailored for You.
- Easy top up loans in future.
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
TATA Capital vs ICICI Bank vs Federal Bank vs Grihum Housing Finance Calculations
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Feature Comparison
Rate of Interest
When comparing home loan offerings from TATA Capital, ICICI Bank, Federal Bank, and Grihum Housing Finance, interest rates are a key consideration. TATA Capital provides rates of 8.75% - 10%, which can lead to lower monthly payments. ICICI Bank offers rates of 8.75% - 10.00%, potentially resulting in greater long-term savings. Federal Bank has rates of 8.80%-11.00%, offering flexibility for different financial strategies. Grihum Housing Finance offers rates of 9.90% - 17.25%., which may be advantageous for those seeking competitive rates.
Loan Tenure
TATA Capital offers loan tenures up to Max 30 Years, ideal for reducing monthly financial commitments. ICICI Bank provides loan periods up to Max 30 Years, catering to those who prefer a balanced repayment schedule. Federal Bank allows loan tenures up to Max 30 years, perfect for borrowers aiming to repay their loans more quickly. Grihum Housing Finance extends tenures up to Max 30 years, offering additional repayment options.
Maximum Loan Amount
For the maximum loan amount, TATA Capital extends up to Upto 5cr, making it suitable for purchasing premium properties. ICICI Bank caps loans at Upto 5cr, fitting for standard home investments. Federal Bank offers loans up to Upto 15cr, catering to more modest real estate purchases. Grihum Housing Finance provides maximum loans of Upto 5cr, supporting a diverse range of property investments.
Processing Fees
Processing fees differ across banks. TATA Capital charges upto 2% of loan amount+ GST, ICICI Bank imposes 0.50% of the loan amount, Federal Bank sets its fee at Low processing fees, and Grihum Housing Finance requires 0.50% of your sanctioned loan amount. 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, ICICI Bank, Federal Bank, and Grihum Housing Finance, 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.
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