TATA Capital Home Loan vs Shriram Housing Finance Home Loan

Feature Comparison

When choosing between TATA Capital and Shriram Housing Finance for a home loan, the interest rates offered are a primary factor. TATA Capital presents rates of 8.75% - 10%, which is advantageous for those aiming to reduce their monthly financial burden. Conversely, Shriram Housing Finance offers rates of 9.50% - 10.5%, potentially leading to enhanced savings over the loan's tenure.

TATA Capital provides a loan tenure that extends up to Max 30 Years, making it suitable for borrowers who prefer lower monthly repayments. In comparison, Shriram Housing Finance offers loan tenures of up to Max 25 years, appealing to those who wish to pay off their loan more swiftly and minimize total interest costs.

In terms of the maximum loan amount, TATA Capital permits borrowing up to Upto 5cr, ideal for purchasing premium or high-value properties. Shriram Housing Finance restricts the maximum loan to Upto 10 Cr, which is better suited for buyers looking at more moderately priced homes.

Processing fees are a critical aspect to consider. TATA Capital charges a processing fee of upto 2% of loan amount+ GST, whereas Shriram Housing Finance sets its fee at Up to 2.5% of the loan amount plus applicable taxes.. These fees should be accounted for when determining the overall expense of your home loan.

Conclusion

Choosing a home loan that fits your financial needs involves assessing key factors like the interest rate, qualification criteria, loan tenure, maximum loan limits, and any processing charges. By thoroughly reviewing these points in the home loan options from TATA Capital and Shriram Housing Finance, you can make a decision that's right for you.