Ujjivan Small Finance Bank Home Loan vs TATA Capital Home Loan

Feature Comparison

When choosing between Ujjivan Small Finance Bank and TATA Capital for a home loan, the interest rates offered are a primary factor. Ujjivan Small Finance Bank presents rates of 8.75% - 16.75%, which is advantageous for those aiming to reduce their monthly financial burden. Conversely, TATA Capital offers rates of 8.75% - 10%, potentially leading to enhanced savings over the loan's tenure.

Ujjivan Small Finance Bank provides a loan tenure that extends up to Max 20 years, making it suitable for borrowers who prefer lower monthly repayments. In comparison, TATA Capital offers loan tenures of up to Max 30 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, Ujjivan Small Finance Bank permits borrowing up to Upto 75 Lakhs, ideal for purchasing premium or high-value properties. TATA Capital restricts the maximum loan to Upto 5cr, which is better suited for buyers looking at more moderately priced homes.

Processing fees are a critical aspect to consider. Ujjivan Small Finance Bank charges a processing fee of ₹ 3,350 + GST applicable (Non – refundable), whereas TATA Capital sets its fee at upto 2% of loan amount+ GST. 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 Ujjivan Small Finance Bank and TATA Capital, you can make a decision that's right for you.