Comparison of Home Loan Interest Rates by Bajaj Finserv, Tata Capital, and PNB Housing
Choosing the right home loan provider is crucial for ensuring affordability and financial stability. Among the leading lenders in India, Bajaj Finserv, Tata Capital, and PNB Housing offer competitive interest rates with varying features and eligibility criteria. In this article, we will compare their home loan interest rates, loan features, and borrower benefits to help you make an informed decision.
Home Loan Interest Rates Comparison
| Lender |
Interest Rate (p.a.) |
Loan Tenure |
Processing Fee |
Minimum CIBIL Score |
| Bajaj Finserv |
8.50% - 15% |
Up to 30 years |
0.5% - 1% of loan amount |
600+ |
| Tata Capital |
9.25% - 14% |
Up to 30 years |
0.5% - 1.25% of loan amount |
550+ |
| PNB Housing |
8.75% - 12% |
Up to 30 years |
0.5% - 1% of loan amount |
600+ |
Bajaj Finserv Home Loans
Features:
- Loan amount up to Rs. 5 crore.
- Quick approval and minimal documentation.
- Customizable repayment tenure.
- Special interest rates for salaried professionals.
Eligibility Criteria:
- Salaried or self-employed individuals.
- Minimum age: 23 years; Maximum age: 70 years.
- Minimum CIBIL score: 600.
Pros & Cons:
✅ Fast processing with minimal paperwork. ✅ Competitive interest rates for high-credit borrowers. ❌ Higher interest rates for low-credit score applicants.
Tata Capital Home Loans
Features:
- Loan amount up to Rs. 5 crore.
- Flexible EMI options.
- Special rates for women applicants.
- Online loan approval in minutes.
Eligibility Criteria:
- Salaried or self-employed professionals.
- Minimum age: 24 years; Maximum age: 65 years.
- Minimum CIBIL score: 550.
Pros & Cons:
✅ Ideal for borrowers with low CIBIL scores. ✅ Flexible repayment options. ❌ Higher interest rates for borrowers with poor credit history.
PNB Housing Finance Home Loans
Features:
- Loan amount up to Rs. 10 crore.
- Attractive interest rates with high LTV ratio.
- Multiple repayment options.
- Balance transfer facility available.
Eligibility Criteria:
- Salaried or self-employed professionals.
- Minimum age: 21 years; Maximum age: 70 years.
- Minimum CIBIL score: 600.
Pros & Cons:
✅ Lower interest rates compared to NBFCs. ✅ High loan-to-value ratio. ❌ Strict eligibility criteria.
Final Verdict: Which One Should You Choose?
- Choose Bajaj Finserv if you need a high loan amount with quick processing and have a CIBIL score of 600+.
- Choose Tata Capital if you have a lower CIBIL score and need flexible EMI options.
- Choose PNB Housing if you seek lower interest rates and higher LTV ratio but can meet strict eligibility criteria.
Conclusion
While all three lenders offer competitive home loan interest rates, Bajaj Finserv provides faster approval, Tata Capital caters to low CIBIL score borrowers, and PNB Housing offers better LTV ratios. Before applying, compare the terms, check your eligibility, and select the lender that best suits your financial needs. Additionally, maintaining a good credit score will help secure better loan terms and lower interest rates in the future.
