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Compare Federal Bank vs India Shelters Home Loan

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Bank
Interest Rate
Interest Rate
7.65% - 7.75%
12.00% - 20.00%
Processing Fees
Processing Fees
Upto 0.50%
Min ₹ 3,000; Max ₹ 7,500
Upto 2.00%
Maximum Loan Amount
Maximum Loan Amount
₹ 15 Cr
₹ 1 Cr
Maximum Tenure
Maximum Tenure
30 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 710
₹ 1,101
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
PLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
For Women
For Women
N
N
Overdraft Facility
Overdraft Facility
Y - Home Saver
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.5/5.0
3/5.0
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Compare Home Loan EMI of Federal Bank and India Shelters

Loan Amount Federal Bank India Shelters
₹ 10 Lakh ₹ 7,095 ₹ 11,011
₹ 25 Lakh ₹ 17,738 ₹ 27,527
₹ 30 Lakh ₹ 21,285 ₹ 33,033
₹ 50 Lakh ₹ 35,476 ₹ 55,054

Which is a better bank for Home Loan – Federal Bank or India Shelters?

Federal Bank offers lower Home Loan EMI at ₹ 710 on a Home Loan for 30 Years as compared to India Shelters with a minimum EMI of ₹ 1,101 for 20 Years. Average customer ratings for Federal Bank is currently at 3.5/5.0 which makes it a good choice for taking a Home Loan.

How does Federal Bank Home Loan compare with India Shelters Home Loan?

It is important to do a detailed comparison of Federal Bank and India Shelters on all loan terms and conditions to understand their differences and make an informed decision. Keep in mind that each bank’s scheme has its pros and cons that have to be evaluated before choosing the best offer. Some of the key results of the comparison between the two banks are:

  • Lowest Interest rate of Federal Bank Home Loan is 7.65%, which is lower than the lowest interest rate of India Shelters at 12.00% and hence, Federal Bank is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, Federal Bank charges a lower processing fees of 0.50% of the loan amount vs India Shelters with a processing fees of 2.00% of loan amount.
  • Federal Bank is a with its Home Loan rates benchmarked to RLLR. India Shelters is a with its home loan rates benchmarked to PLR.
  • Federal Bank has an average customer ratings of 3.5, while India Shelters has an average customer rating of 3, based on which it is clear that Federal Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.
  • One unique feature of Federal Bank is its overdraft facility which allows borrowers to minimize their interest outgo by paying interest only on the loan amount utilized. This scheme makes it an apt choice for self-employed and businessmen with fluctuating fund requirements.

Which bank offers a lower interest rate on Home Loan – Federal Bank or India Shelters?

As per the current rates, Federal Bank offers a lower interest rate of 7.65% on Home Loan when compared to India Shelters which offers a Home Loan at 12.00%.

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*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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