Compare Home Loan - Punjab and Sind Bank vs Indian Overseas Bank

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Bank	SBI HDFC Citibank Bank of Baroda ICICI Bank Axis Bank PNB Housing Finance LIC Housing Finance Bajaj Home Finance Sundaram Home Finance Kotak Bank Yes Bank Syndicate Bank IDFC First Bank Union Bank of India Lakshmi Vilas Bank Allahabad Bank Andhra Bank Bank of India Bank of Maharashtra Canara Bank Central Bank of India Punjab and Sind Bank UCO Bank Aadhar Housing Finance United Bank of India DBS Bank Tata Capital Home Finance LT Housing Finance Piramal Housing Finance Aavas Financiers IDBI Bank Karur Vysya Bank RBL Bank HSBC Bank Standard Chartered Bank Edelweiss GIC Housing Finance Reliance Capital IIFL Corporation Bank Jammu And Kashmir Bank Indian Bank OBC PNB Indiabulls DCB Bank Dhan Laxmi Bank Karnataka Bank South Indian Bank Federal Bank	SBI HDFC Citibank Bank of Baroda ICICI Bank Axis Bank PNB Housing Finance LIC Housing Finance Bajaj Home Finance Sundaram Home Finance Kotak Bank Yes Bank Syndicate Bank IDFC First Bank Union Bank of India Jammu And Kashmir Bank Lakshmi Vilas Bank Allahabad Bank Andhra Bank Bank of India Bank of Maharashtra Canara Bank Central Bank of India UCO Bank Aadhar Housing Finance United Bank of India DBS Bank Tata Capital Home Finance LT Housing Finance Piramal Housing Finance Aavas Financiers IDBI Bank Karur Vysya Bank RBL Bank HSBC Bank Standard Chartered Bank Edelweiss GIC Housing Finance Reliance Capital IIFL Corporation Bank Federal Bank Indian Bank Indian Overseas Bank OBC PNB Indiabulls DCB Bank Dhan Laxmi Bank Karnataka Bank South Indian Bank
Parameters
Interest Rate	Interest Rate 8.05% - 8.40%	7.05% - 7.30%
Processing Fees	Processing Fees Upto 0.25% Min ₹ 1,000; Max ₹ 15,000	Upto 0.53% Min ₹ 8,900; Max ₹ 13,350
Maximum Loan Amount	Maximum Loan Amount ₹ 5 Cr	₹ 5 Cr
Maximum Tenure	Maximum Tenure 30 Years	30 Years
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 737	₹ 669
Benchmark Rate (Check Rates)	Benchmark Rate (Check Rates) RLLR	RLLR
Minimum Age	Minimum Age 21 Years	21 Years
Maximum Age	Maximum Age 70 Years	60 Years
For Women	For Women N	N
Overdraft Facility	Overdraft Facility N	N
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 2.5/5.0	2.5/5.0

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Compare EMI of Punjab and Sind Bank and Indian Overseas Bank Home Loan

Loan Amount	Punjab and Sind Bank	Indian Overseas Bank
₹ 10 Lakh	₹ 7,373	₹ 6,687
₹ 25 Lakh	₹ 18,431	₹ 16,717
₹ 30 Lakh	₹ 22,118	₹ 20,060
₹ 50 Lakh	₹ 36,863	₹ 33,433

Which is a better bank for Home Loan – Indian Overseas Bank or Punjab and Sind Bank?

Indian Overseas Bank offers lower Home Loan EMI at ₹ 669 on a Home Loan for 30 Years as compared to Punjab and Sind Bank with a minimum EMI of ₹ 737 for 30 Years. Average customer ratings for Indian Overseas Bank is currently at 2.5/5.0 which makes it a good choice for taking a Home Loan.

How does Indian Overseas Bank Home Loan compare with Punjab and Sind Bank Home Loan?

It is important to do a detailed comparison of Indian Overseas Bank 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 Indian Overseas Bank Home Loan is 7.05%, which is lower than the lowest interest rate of Punjab and Sind Bank at 8.05% and hence, Indian Overseas Bank is offering a cheaper loan option.
When compared on other Home Loan charges such as processing fees, Punjab and Sind Bank charges a lower processing fees of 0.25% of the loan amount vs Indian Overseas Bank with a processing fees of 0.53% of loan amount.
Indian Overseas Bank has a maximum processing fee of ₹ 13,350 compared to Punjab and Sind Bank with higher processing fees of ₹ 15,000. Hence, customers looking for a higher loan amount will get a benefit on processing fees by opting for Indian Overseas Bank.
Indian Overseas Bank is a Public Sector Bank with its Home Loan rates benchmarked to RLLR. Punjab and Sind Bank is a Public Sector Bank with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to same rate which make them a comparable option to choose from.
Indian Overseas Bank with an average customer ratings of 2.5 is equally comparable to Punjab and Sind Bank with an average customer rating of 2.5, and hence, the customer can expect the same kind of service levels from these banks.

Which bank offers lower interest rate on Home Loan – Indian Overseas Bank or Punjab and Sind Bank?

As per the current rates, Indian Overseas Bank offers a lower interest rate of 7.05% on Home Loan when compared to Punjab and Sind Bank which offers a Home Loan at 8.05%.

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Home Loan News - Jun 2021

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.
2021-06-09 : Growth of upto 18% expected by IIFL Home Finance on loans
IIFL Home Finance expects a growth on its loan book which includes Home loans and Loan against property of upto 18%.
2021-06-09 : IIFL Home Finance signs MOU with Central bank of India
IIFL Home Finance signed a MOU with Central bank of India for co-lending. The Central bank will be providing 80% of the loan amount of IIFL.
2021-06-08 : The Central Bank of India joined hands with Indiabulls Housing to provide Home Loans
On monday, the Central bank of India and Indiabulls Housing Finance Limited entered into a partnership to provide Home Loans under priority sector at competitive prices that will lead to a greater disbursement of Housing loans by both the entities.
2021-06-03 : Sundaram Home Finance revised its home loan rates
With effect from 1 June 2020, Sundaram Home Finance revised its home loans rates. The new home loan rates start from 6.95%

*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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