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Compare Corporation Bank vs Lakshmi Vilas Bank Home Loan

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Bank
Interest Rate
Interest Rate
6.80% - 7.35%
9.70% - 9.70%
Processing Fees
Processing Fees
Upto 0.50%
Max ₹ 50,000
Upto 0.40%
Min ₹ 10,000; Max ₹ 20,000
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 5 Cr
Maximum Tenure
Maximum Tenure
30 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 652
₹ 945
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
For Women
For Women
Y
N
Overdraft Facility
Overdraft Facility
N
Y - OD
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.5/5.0
3.5/5.0
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Compare Home Loan EMI of Corporation Bank and Lakshmi Vilas Bank

Loan Amount Corporation Bank Lakshmi Vilas Bank
₹ 10 Lakh ₹ 6,519 ₹ 9,452
₹ 25 Lakh ₹ 16,298 ₹ 23,631
₹ 30 Lakh ₹ 19,558 ₹ 28,357
₹ 50 Lakh ₹ 32,596 ₹ 47,262

Which is a better bank for Home Loan – Corporation Bank or Lakshmi Vilas Bank?

Corporation Bank offers lower Home Loan EMI at ₹ 652 on a Home Loan for 30 Years as compared to Lakshmi Vilas Bank with a minimum EMI of ₹ 945 for 20 Years. Average customer ratings for Corporation Bank is currently at 3.5/5.0 which makes it a good choice for taking a Home Loan.

How does Corporation Bank Home Loan compare with Lakshmi Vilas Bank Home Loan?

It is important to do a detailed comparison of Corporation Bank and Lakshmi Vilas Bank 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 Corporation Bank Home Loan is 6.80%, which is lower than the lowest interest rate of Lakshmi Vilas Bank at 9.70% and hence, Corporation Bank is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, Lakshmi Vilas Bank charges a lower processing fees of 0.40% of the loan amount vs Corporation Bank with a processing fees of 0.50% of loan amount.
  • Corporation Bank is a with its Home Loan rates benchmarked to RLLR. On the other hand, Lakshmi Vilas Bank is a with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to the same rate, making them a comparable option to choose from.
  • Corporation Bank with an average customer ratings of 3.5 is equally comparable to Lakshmi Vilas Bank with an average customer rating of 3.5, and hence, the customer can expect the same kind of service levels from these banks.
  • Corporation Bank offers special discounted rate Home Loan schemes for women, while Lakshmi Vilas Bank currently doesn’t have such schemes for women. Hence, women borrowers should consider Corporation Bank.
  • One unique feature of Lakshmi Vilas 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 – Corporation Bank or Lakshmi Vilas Bank?

As per the current rates, Corporation Bank offers a lower interest rate of 6.80% on Home Loan when compared to Lakshmi Vilas Bank which offers a Home Loan at 9.70%.

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Home Loan News - Sep 2021
  • 2021-09-14 : DCB Bank Revises MCLR Rate
    DCB Bank has revised the Marginal Cost of Funds Lending Rate (MCLR) for different tenures. Now, the one-year and six-month MCLR are 9.02%. Three-months MCLR is at 8.77%, one month and overnight MCLR is 8.07%.
  • 2021-09-10 : Kotak Mahindra Bank Cuts Home Loan Interest Rate
    Kotak Mahindra Bank has reduced the home loan interest rate by 15 basis points (bps), ahead of the festive season. Currently, the minimum rate of interest is 6.50%, the special rate is applicable from 10 September 2021 to November 8, 2021.
  • 2021-09-07 : LIC Housing Finance Partners with IPPB for Home Loans
    India Post Payments Bank (IPPB) and LIC Housing Finance announced a strategic partnership for providing home loan products to over 4.5 crore customers of IPPB. IPPB will make LICHFL home loan products accessible to its customers pan-India.
  • 2021-09-06 : Bank of Baroda is offering a promising home loan
    Bank of Baroda is offering attractive offers on home loans. The lender is offering lower interest rates and longer tenure. A borrower can loan approved within 30 minutes digitally.
  • 2021-09-01 : Mortgage lending has increased GDP by 11%
    National Housing Bank has informed that mortgage lending in India has increased India’s Gross Domestic Product (GDP) by 11%, an economy worth Rs 27 trillion. 65% of the loans are provided by banks and the rest 35% by NBFCs.
*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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