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Compare Lakshmi Vilas Bank vs GIC Housing Finance Home Loan

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Bank
Interest Rate
Interest Rate
9.70% - 9.70%
10.25% - 10.25%
Processing Fees
Processing Fees
Upto 0.40%
Min ₹ 10,000; Max ₹ 20,000
Min ₹ 2,500;
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 3 Cr
Maximum Tenure
Maximum Tenure
20 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 945
₹ 982
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 - OD
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.5/5.0
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Compare Home Loan EMI of Lakshmi Vilas Bank and GIC Housing Finance

Loan Amount Lakshmi Vilas Bank GIC Housing Finance
₹ 10 Lakh ₹ 9,452 ₹ 9,816
₹ 25 Lakh ₹ 23,631 ₹ 24,541
₹ 30 Lakh ₹ 28,357 ₹ 29,449
₹ 50 Lakh ₹ 47,262 ₹ 49,082

Which is a better bank for Home Loan – Lakshmi Vilas Bank or GIC Housing Finance?

Lakshmi Vilas Bank offers lower Home Loan EMI at ₹ 945 on a Home Loan for 20 Years as compared to GIC Housing Finance with a minimum EMI of ₹ 982 for 20 Years. Average customer ratings for Lakshmi Vilas Bank is currently at /5.0 which makes it a good choice for taking a Home Loan.

How does Lakshmi Vilas Bank Home Loan compare with GIC Housing Finance Home Loan?

It is important to do a detailed comparison of Lakshmi Vilas Bank and GIC Housing Finance 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 Lakshmi Vilas Bank Home Loan is 9.70%, which is lower than the lowest interest rate of GIC Housing Finance at 10.25% and hence, Lakshmi Vilas Bank is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, GIC Housing Finance charges a lower processing fees of Nil vs Lakshmi Vilas Bank with a processing fees of 0.40% of loan amount.
  • Lakshmi Vilas Bank is a with its Home Loan rates benchmarked to RLLR. GIC Housing Finance is a with its home loan rates benchmarked to PLR.
  • GIC Housing Finance has an average customer ratings of 3.5, while has an average customer rating of , based on which it is clear that GIC Housing Finance has a high customer service focus, an easy Home Loan process and a quick turnaround.
  • 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 – Lakshmi Vilas Bank or GIC Housing Finance?

As per the current rates, Lakshmi Vilas Bank offers a lower interest rate of 9.70% on Home Loan when compared to GIC Housing Finance which offers a Home Loan at 10.25%.

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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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