TATA Capital Home Loan vs Ujjivan Small Finance Bank Home Loan

Feature Comparison

When choosing between TATA Capital and Ujjivan Small Finance Bank 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, Ujjivan Small Finance Bank offers rates of 8.75% - 16.75%, 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, Ujjivan Small Finance Bank offers loan tenures of up to Max 20 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. Ujjivan Small Finance Bank restricts the maximum loan to Upto 75 Lakhs, 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 Ujjivan Small Finance Bank sets its fee at ₹ 3,350 + GST applicable (Non – refundable). 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 Ujjivan Small Finance Bank, you can make a decision that's right for you.