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Compare Central Bank of India vs LIC Housing Finance Home Loan

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Bank
Interest Rate
Interest Rate
6.85% - 7.30%
6.66% - 6.90%
Processing Fees
Processing Fees
Upto 0.50%
Max ₹ 20,000
Min ₹ 10,000;
Maximum Loan Amount
Maximum Loan Amount
₹ 10 Cr
₹ 15 Cr
Maximum Tenure
Maximum Tenure
30 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 655
₹ 643
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
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.5/5.0
3.9/5.0
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Compare Home Loan EMI of Central Bank of India and LIC Housing Finance

Loan Amount Central Bank of India LIC Housing Finance
₹ 10 Lakh ₹ 6,553 ₹ 6,426
₹ 25 Lakh ₹ 16,381 ₹ 16,066
₹ 30 Lakh ₹ 19,658 ₹ 19,279
₹ 50 Lakh ₹ 32,763 ₹ 32,131

Which is a better bank for Home Loan – LIC Housing Finance or Central Bank of India?

LIC Housing Finance offers lower Home Loan EMI at ₹ 643 on a Home Loan for 30 Years as compared to Central Bank of India with a minimum EMI of ₹ 655 for 30 Years. Average customer ratings for LIC Housing Finance is currently at 3.9/5.0 which makes it a good choice for taking a Home Loan.

How does LIC Housing Finance Home Loan compare with Central Bank of India Home Loan?

It is important to do a detailed comparison of LIC Housing Finance and Central Bank of India 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 LIC Housing Finance Home Loan is 6.66%, which is lower than the lowest interest rate of Central Bank of India at 6.85% and hence, LIC Housing Finance is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, LIC Housing Finance charges a lower processing fees of Nil vs Central Bank of India with a processing fees of 0.50% of loan amount.
  • Central Bank of India is a with its Home Loan rates benchmarked to RLLR. LIC Housing Finance is a with its home loan rates benchmarked to PLR.
  • LIC Housing Finance has an average customer ratings of 3.9, while Central Bank of India has an average customer rating of 3.5, based on which it is clear that LIC Housing Finance has a high customer service focus, an easy Home Loan process and a quick turnaround.

Which bank offers a lower interest rate on Home Loan – LIC Housing Finance or Central Bank of India?

As per the current rates, LIC Housing Finance offers a lower interest rate of 6.66% on Home Loan when compared to Central Bank of India which offers a Home Loan at 6.85%.

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Home Loan News - Sep 2021
  • 2021-09-27 : PNB Housing Finance Revises Home Loan Rates
    PNB Housing Finance has revised home loan rates for borrowers. A borrower can get an interest rate of 7.20% with a credit score above 800. A self employed can get loan at 7.40%, there is no change in rates of Unnati Home Loans.
  • 2021-09-24 : ICICI Bank Revises Home Loan Interest Rate
    ICICI Bank has cut home loan interest to 6.70%. The lowest rate for salaried is 6.70% and self-employed is 6.80%. If a borrower has a low credit score then they will have to pay 7.40% of the principal amount.
  • 2021-09-24 : LIC Housing Finance Announces New Home Loan Rates
    LIC Housing Finance has slashed the home loan rate to 6.66% for loans up to Rs 2 crore. These rates will be offered to the borrowers who have a credit score above 700 and it is valid till November 30, 2021.
  • 2021-09-21 : HDFC Bank Introduce Festival Bonanza Offer
    HDFC Bank has come up with a festival bonanza offer which is valid till October 31, 2021. The lender has cut home loan interest rate to 6.70%, the special rate is linked to borrowers credit score.
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
*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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