Home Loan Comparison
TATA Capital Home Loan vs Ujjivan Small Finance Bank Home Loan vs Union Bank Of India 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, Ujjivan Small Finance Bank, and Union Bank Of India. 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
Ujjivan Small Finance Bank Home Loan
- Easy documentation
- Lower EMIs
- Fast approval and disbursement
- Smooth, hassle-free process
- Flexible policies
Union Bank Of India Home Loan
- Zero processing charges
- Attractive interest rates
- Dedicated Customer Support
- Fast Approval and Disbursement
- 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 Ujjivan Small Finance Bank vs Union Bank Of India Calculations
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Feature Comparison
Rate of Interest
When comparing home loan offerings from TATA Capital, Ujjivan Small Finance Bank, and Union Bank Of India, interest rates are a key consideration. TATA Capital provides rates of 8.75% - 10%, which can lead to lower monthly payments. Ujjivan Small Finance Bank offers rates of 8.75% - 16.75%, potentially resulting in greater long-term savings. Union Bank Of India has interest rates of 7.35%-10.75%, offering flexibility for different financial strategies.
Loan Tenure
TATA Capital offers loan tenures up to Max 30 Years, ideal for reducing monthly financial commitments. Ujjivan Small Finance Bank provides loan periods up to Max 20 years, catering to those who prefer a balanced repayment schedule. Union Bank Of India allows loan tenures up to Max 30 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. Ujjivan Small Finance Bank caps loans at Upto 75 Lakhs, fitting for standard home investments. Union Bank Of India offers loans up to Upto 5cr, catering to more modest real estate purchases.
Processing Fees
Processing fees differ across banks. TATA Capital charges upto 2% of loan amount+ GST, Ujjivan Small Finance Bank imposes ₹ 3,350 + GST applicable (Non – refundable), and Union Bank Of India sets its fee at 0.50% of the loan amount subject to a maximum of Rs. 15000 plus GST. 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, Ujjivan Small Finance Bank, and Union Bank Of India, 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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