Home Loan Comparison
Union Bank Of India Home Loan vs SBI Home Loan vs HDFC Home Loan
Introduction
When planning to buy a home, choosing the right loan is essential. Union Bank Of India, SBI, and HDFC offer robust home loan options for both salaried and self-employed customers. This comparison will focus on their interest rates, loan flexibility, and additional benefits to help you make an informed decision.
Bank Highlights
Union Bank Of India Home Loan
- Zero processing charges
- Attractive interest rates
- Dedicated Customer Support
- Fast Approval and Disbursement
- Flexible Policies
SBI Home Loan
- Low Processing charges. No hidden costs.
- No Prepayment penalties
- Home loan also available as an overdraft.
- Interest Calculation on Daily Reducing Balance
- Wide Product Range
HDFC Home Loan
- Great Customer Service
- Process is Simple and Online
- Certain Restrictions on Online Prepayments
- Competitive Interest Rates
- Multi Branch Banking
- Non Salaried Cases Take Time
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
Union Bank Of India vs SBI vs HDFC Calculations
Calculator
Home Loan EMI Calculator
WhatsApp UsLoan Amount
₹ 0
Interest Amount
₹ 0
Total Payable
₹ 0
Monthly EMI
₹ 0
Your Amortization details(Yearly/Monthly)
Feature Comparison
Rate of Interest
When selecting a home loan from Union Bank Of India, SBI, or HDFC, the interest rate is a pivotal factor. Union Bank Of India offers rates of 8.50%-10.75%, potentially lowering your monthly repayments. SBI provides rates of 8.50% - 9.70%, which might result in significant savings over the loan's lifespan. HDFC presents rates of 8.75% - 9.65%, possibly offering the most favourable terms based on your financial objectives.
Loan Tenure
The loan tenure influences the duration of your repayment period. Union Bank Of India allows a maximum tenure of Max 30 years, ideal for spreading out payments to reduce monthly expenses. SBI offers a tenure of Max 30 Years, suitable for those aiming to pay off their loan more quickly. HDFC provides a tenure up to Max 30 Years, offering flexibility to match your repayment strategy.
Maximum Loan Amount
The maximum loan amount determines the value of the property you can purchase. Union Bank Of India finances up to Upto 5cr, catering to high-end property investments. SBI offers loans up to 6cr - 10cr, fitting for mid-range properties. HDFC approves maximum loan amounts of 6cr - 10cr, accommodating a wide spectrum of real estate prices.
Processing Fees
Processing fees affect your initial loan costs. Union Bank Of India charges a fee of 0.50% of the loan amount subject to a maximum of Rs. 15000 plus GST, which should be factored into your upfront expenses. SBI imposes a processing fee of 50% concession in card rate. 100% waiver in selected cases., impacting the overall cost of obtaining the loan. HDFC sets its fee at Upto 0.50% of the loan amount or Rs. 3300/- whichever is higher, potentially providing a more economical option depending on the loan amount.
Conclusion
To find the home loan that aligns with your financial plans, consider the key features of the offerings from Union Bank Of India, SBI, and HDFC. Evaluate factors like interest rates, who qualifies, repayment periods, maximum loan limits, and any processing fees to make an informed decision.
Get detailed answers to the most frequently asked questions, tailored for your peace of mind.