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Compare Home Loan - Sundaram Home Finance vs Indian Overseas Bank

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Interest Rate
Interest Rate
6.95% - 7.40%
7.05% - 7.30%
Processing Fees
Processing Fees
Upto 0.53%
Min ₹ 8,900; Max ₹ 13,350
Maximum Loan Amount
Maximum Loan Amount
₹ 3 Cr
₹ 5 Cr
Maximum Tenure
Maximum Tenure
20 Years
30 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 772
₹ 669
Benchmark Rate (Check Rates)
Benchmark Rate (Check Rates)
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
70 Years
60 Years
For Women
For Women
Overdraft Facility
Overdraft Facility
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Sundaram Home Finance and Indian Overseas Bank Home Loan

Loan Amount Sundaram Home Finance Indian Overseas Bank
₹ 10 Lakh ₹ 7,723 ₹ 6,687
₹ 25 Lakh ₹ 19,308 ₹ 16,717
₹ 30 Lakh ₹ 23,169 ₹ 20,060
₹ 50 Lakh ₹ 38,615 ₹ 33,433

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

Indian Overseas Bank offers lower Home Loan EMI at ₹ 669 on a Home Loan for 30 Years as compared to Sundaram Home Finance with a minimum EMI of ₹ 772 for 20 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 Sundaram Home Finance Home Loan compare with Indian Overseas Bank Home Loan?

It is important to do a detailed comparison of Sundaram Home 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 Sundaram Home Finance Home Loan is 6.95%, which is lower than the lowest interest rate of Indian Overseas Bank at 7.05% and hence, Sundaram Home Finance is offering a cheaper loan option.
  • When compared on other Home Loan charges such as processing fees, Sundaram Home Finance charges a lower processing fees of Nil vs Indian Overseas Bank with a processing fees of 0.53% of loan amount.
  • Indian Overseas Bank is a Public Sector Bank with its Home Loan rates benchmarked to RLLR. Sundaram Home Finance is a NBFCs with its home loan rates benchmarked to PLR.
  • Indian Overseas Bank has an average customer ratings of 2.5, while has an average customer rating of , based on which it is clear that Indian Overseas Bank has a high customer service focus, an easy Home Loan process and a quick turnaround.

Which bank offers lower interest rate on Home Loan – Sundaram Home Finance or Indian Overseas Bank?

As per the current rates, Sundaram Home Finance offers a lower interest rate of 6.95% 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 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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