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Compare PNB vs Indian Overseas Bank Home Loan

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Bank
Interest Rate
Interest Rate
6.75% - 9.10%
7.05% - 7.30%
Processing Fees
Processing Fees
Upto 0.35%
Min ₹ 2,500; Max ₹ 15,000
Upto 0.53%
Min ₹ 8,900; Max ₹ 13,350
Maximum Loan Amount
Maximum Loan Amount
₹ 1 Cr
₹ 5 Cr
Maximum Tenure
Maximum Tenure
30 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 649
₹ 669
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
60 Years
For Women
For Women
N
N
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.9/5.0
2.5/5.0
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Compare Home Loan EMI of PNB and Indian Overseas Bank

Loan Amount PNB Indian Overseas Bank
₹ 10 Lakh ₹ 6,486 ₹ 6,687
₹ 25 Lakh ₹ 16,215 ₹ 16,717
₹ 30 Lakh ₹ 19,458 ₹ 20,060
₹ 50 Lakh ₹ 32,430 ₹ 33,433

Which is a better bank for Home Loan – PNB or Indian Overseas Bank?

PNB offers lower Home Loan EMI at ₹ 649 on a Home Loan for 30 Years as compared to Indian Overseas Bank with a minimum EMI of ₹ 669 for 30 Years. Average customer ratings for PNB is currently at 3.9/5.0 which makes it a good choice for taking a Home Loan.

How does PNB Home Loan compare with Indian Overseas Bank Home Loan?

It is important to do a detailed comparison of PNB and Indian Overseas 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 PNB Home Loan is 6.75%, which is lower than the lowest interest rate of Indian Overseas Bank at 7.05% and hence, PNB is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, PNB charges a lower processing fees of 0.35% of the loan amount vs Indian Overseas Bank with a processing fees of 0.53% of loan amount.
  • Indian Overseas Bank is a with its Home Loan rates benchmarked to RLLR. On the other hand, PNB 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.
  • PNB has an average customer ratings of 3.9, while Indian Overseas Bank has an average customer rating of 2.5, based on which it is clear that PNB 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 – PNB or Indian Overseas Bank?

As per the current rates, PNB offers a lower interest rate of 6.75% on Home Loan when compared to Indian Overseas Bank which offers a Home Loan at 7.05%.

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Home Loan News - Jun 2022
  • 2022-06-16 : Maharashtra Government Revises Income Slabs
    The annual income slab for the economically weaker section (EWS) has been increased to Rs 6 lakh, and Rs 4.5 lakh for those residing in Mumbai, Pune, and Nagpur Metropolitan Region and the rest of the state respectively.
  • 2022-06-16 : SBI Increases Lowest Interest Rates for Home Loans
    The bank has raised minimum rate for home loans to 7.55% two weeks after the increase of Repo Rate.
  • 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.
*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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