MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹1,000* on Home Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Home Loan - LIC Housing Finance vs Central Bank of India

Download Comparison
Bank
Parameters
Interest Rate
Interest Rate
6.90% - 7.80%
7.30% - 7.30%
Processing Fees
Processing Fees
Min ₹ 10,000; Max ₹ 15,000
Upto 0.50%
Max ₹ 20,000
Maximum Loan Amount
Maximum Loan Amount
₹ 15 Cr
₹ 10 Cr
Maximum Tenure
Maximum Tenure
30 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 659
₹ 686
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
PLR
RLLR
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)
3.8/5.0
3.5/5.0
Add Bank

Compare EMI of LIC Housing Finance and Central Bank of India Home Loan

Loan Amount LIC Housing Finance Central Bank of India
₹ 10 Lakh ₹ 6,586 ₹ 6,856
₹ 25 Lakh ₹ 16,465 ₹ 17,139
₹ 30 Lakh ₹ 19,758 ₹ 20,567
₹ 50 Lakh ₹ 32,930 ₹ 34,279

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 ₹ 659 on a Home Loan for 30 Years as compared to Central Bank of India with a minimum EMI of ₹ 686 for 30 Years. Average customer ratings for LIC Housing Finance is currently at 3.8/5.0 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 Home Loan on all loan terms and conditions to understand their differences and take an informed decision. Keep in mind that each bank’s scheme has its own 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 6.90%, which is lower than the lowest interest rate of Central Bank of India at 7.30% 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.
  • LIC Housing Finance has a maximum processing fee of ₹ 15,000 compared to Central Bank of India with higher processing fees of ₹ 20,000. Hence, customers looking for a higher loan amount will get a benefit on processing fees by opting for LIC Housing Finance.
  • Central Bank of India is a Public Sector Bank with its Home Loan rates benchmarked to RLLR. LIC Housing Finance is a HFC with its home loan rates benchmarked to PLR.
  • LIC Housing Finance has an average customer ratings of 3.8, 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 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 6.90% on Home Loan when compared to Central Bank of India which offers a Home Loan at 7.30%.

Popular Housing Loans Tools

Popular Search for LIC Housing Finance Home Loan

Popular Search for Central Bank of India Home Loan

Compare LIC Housing Finance Home Loan With Other Banks

Compare Central Bank of India Home Loan With Other Banks

Check Pradhan Mantri Awas Yojana Scheme

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Home Loan News - Jun 2021
  • 2021-06-16 : Ujjivan Small Finance Bank collaborates with MoEngage
    Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
  • 2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
    IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
  • 2021-06-14 : 76% increase in Home Loans in the March quarter
    Home loans sanctioned by banks and NBFCs grew 76% to Rs 79,043 crore in the quarter ended March 2021. Steps like reduction in stamp duties by the government immensely increased the demand for Home Loans.
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
*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
Loader
Please wait while your information is being processed...