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Compare IIFL vs United Bank of India Home Loan

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Bank
Interest Rate
Interest Rate
8.20% - 8.20%
6.95% - 7.75%
Processing Fees
Processing Fees
Upto 1.25%
Upto 0.59%
Min ₹ 1,180; Max ₹ 11,800
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 3 Cr
Maximum Tenure
Maximum Tenure
30 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 748
₹ 662
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
PLR
RLLR
Minimum Age
Minimum Age
18 Years
21 Years
Maximum Age
Maximum Age
70 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
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Compare Home Loan EMI of IIFL and United Bank of India

Loan Amount IIFL United Bank of India
₹ 10 Lakh ₹ 7,478 ₹ 6,619
₹ 25 Lakh ₹ 18,694 ₹ 16,549
₹ 30 Lakh ₹ 22,433 ₹ 19,858
₹ 50 Lakh ₹ 37,388 ₹ 33,097

Which is a better bank for Home Loan – United Bank of India or IIFL?

United Bank of India offers lower Home Loan EMI at ₹ 662 on a Home Loan for 30 Years as compared to IIFL with a minimum EMI of ₹ 748 for 30 Years. Average customer ratings for United Bank of India is currently at 3.5/5.0 which makes it a good choice for taking a Home Loan.

How does United Bank of India Home Loan compare with IIFL Home Loan?

It is important to do a detailed comparison of United Bank of India and IIFL 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 United Bank of India Home Loan is 6.95%, which is lower than the lowest interest rate of IIFL at 8.20% and hence, United Bank of India is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, United Bank of India charges a lower processing fees of 0.59% of the loan amount vs IIFL with a processing fees of 1.25% of loan amount.
  • United Bank of India is a with its Home Loan rates benchmarked to RLLR. IIFL is a with its home loan rates benchmarked to PLR.
  • United Bank of India has an average customer ratings of 3.5, while has an average customer rating of , based on which it is clear that United Bank of India 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 – United Bank of India or IIFL?

As per the current rates, United Bank of India offers a lower interest rate of 6.95% on Home Loan when compared to IIFL which offers a Home Loan at 8.20%.

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Home Loan News - May 2022
  • 2022-05-24 : Home Buyers Welcome the Decision to Extend the PMAY Scheme
    The Central Government has extended the PMAY Scheme-Urban till September 2022 in Maharashtra.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
  • 2022-05-03 : HDFC Profit Rises by 16% for Q4 of FY 2022
    Housing Development Finance Corporation has reported a 16% year-on-year rise in its standalone net profit for the March quarter to Rs 3,700 crore on the back of strong growth in loans and net interest income (NII).
  • 2022-05-02 : HDFC Increase Interest Rates on Home Loans
    The lender has hiked the lending rates by 5 basis points for existing customers. The adjustable-rate home loans for new customers with a credit score of above 750, however, will continue to be 6.70 percent.
*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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