Home Loan Comparison
TATA Capital Home Loan vs IDFC First Bank Home Loan vs Ujjivan Small Finance Bank Home Loan
Introduction
Finding the perfect home loan doesn't have to be complicated. We're here to compare the home loan offerings from TATA Capital, IDFC First Bank, and Ujjivan Small Finance Bank. These banks cater to different employment types and property categories. Your ideal choice will hinge on your specific situation. Let's dive into the details of each to see which one fits you best.
Bank Highlights
TATA Capital Home Loan
- Digital Application Process
- Instant Provisional Sanction
- Online Prepayments are Easy and simple
- Minimal Documentation
- Approval in 48 Hours
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
Ujjivan Small Finance Bank Home Loan
- Easy documentation
- Lower EMIs
- Fast approval and disbursement
- Smooth, hassle-free process
- Flexible policies
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 IDFC First Bank vs Ujjivan Small Finance Bank Calculations
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Home Loan EMI Calculator
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Feature Comparison
Rate of Interest
When comparing home loan offerings from TATA Capital, IDFC First Bank, and Ujjivan Small Finance Bank, interest rates are a key consideration. TATA Capital provides rates of 8.75% - 10%, which can lead to lower monthly payments. IDFC First Bank offers rates of 8.85% - 14%, potentially resulting in greater long-term savings. Ujjivan Small Finance Bank has interest rates of 8.75% - 16.75%, offering flexibility for different financial strategies.
Loan Tenure
TATA Capital offers loan tenures up to Max 30 Years, ideal for reducing monthly financial commitments. IDFC First Bank provides loan periods up to Max 30 Years, catering to those who prefer a balanced repayment schedule. Ujjivan Small Finance Bank allows loan tenures up to Max 20 years, perfect for borrowers aiming to repay their loans more quickly.
Maximum Loan Amount
For the maximum loan amount, TATA Capital extends up to Upto 5cr, making it suitable for purchasing premium properties. IDFC First Bank caps loans at Upto 5 Cr, fitting for standard home investments. Ujjivan Small Finance Bank offers loans up to Upto 75 Lakhs, catering to more modest real estate purchases.
Processing Fees
Processing fees differ across banks. TATA Capital charges upto 2% of loan amount+ GST, IDFC First Bank imposes Up to 3% of loan amount, and Ujjivan Small Finance Bank sets its fee at ₹ 3,350 + GST applicable (Non – refundable). 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, IDFC First Bank, and Ujjivan Small Finance 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.
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