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Compare Allahabad Bank vs Lakshmi Vilas Bank Loan Against Property

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Bank
Interest Rate
Interest Rate
14.15% - 14.15%
11.00% - 11.00%
Processing Fees
Processing Fees
Upto 0.53%
Min ₹ 2,670; Max ₹ 80,100
Upto 1.20%
Maximum Loan Amount
Maximum Loan Amount
₹ 2 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 50%
Upto 60%
Maximum Tenure
Maximum Tenure
9 Years
10 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,642
₹ 1,378
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
70 Years
65 Years
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Loan Against Property EMI of Allahabad Bank and Lakshmi Vilas Bank

Loan Amount Allahabad Bank Lakshmi Vilas Bank
₹ 10 Lakh ₹ 16,422 ₹ 13,775
₹ 15 Lakh ₹ 24,632 ₹ 20,662
₹ 30 Lakh ₹ 49,265 ₹ 41,325
₹ 50 Lakh ₹ 82,108 ₹ 68,875

Which is a better bank for Loan Against Property – Lakshmi Vilas Bank or Allahabad Bank?

Lakshmi Vilas Bank offers lower Loan Against Property EMI at ₹ 1,378 on a Loan Against Property for 10 Years as compared to Allahabad Bank with a minimum EMI of ₹ 1,642 for 9 Years. Average customer ratings for Lakshmi Vilas Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does Lakshmi Vilas Bank Loan Against Property compare with Allahabad Bank Loan Against Property?

It is important to do a detailed comparison of Lakshmi Vilas Bank and Allahabad 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 Lakshmi Vilas Bank Loan Against Property is 11.00%, which is lower than the lowest interest rate of Allahabad Bank at 14.15% and hence, Lakshmi Vilas Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Allahabad Bank charges a lower processing fees of 0.53% of the loan amount vs Lakshmi Vilas Bank with a processing fees of 1.20% of loan amount.
  • Allahabad Bank offers Loan Against Property upto 60% of the property value while Lakshmi Vilas Bank offers mortgage loan upto 50% of property value. Hence, Allahabad Bank can be a better option if you are looking for a high value amount.
  • Allahabad Bank is a with its Loan Against Property rates benchmarked to RLLR. On the other hand, Lakshmi Vilas Bank 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.
  • with an average customer ratings of is equally comparable to with an average customer rating of , and hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Loan Against Property – Lakshmi Vilas Bank or Allahabad Bank?

As per the current rates, Lakshmi Vilas Bank offers a lower interest rate of 11.00% on Loan Against Property when compared to Allahabad Bank which offers a Loan Against Property at 14.15%.

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Loan Against Property News - Oct 2021
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    Gross Non-Performing Assets (NPAs) of banks are expected to increase to 8-9 percent in the current fiscal year according to reports of Crisil. Agency also suggests that Emergency Credit Line Guarantee Scheme (ECLGS) will help limit this increase.
  • 2021-10-18 : HDFC Bank Posts 17.2 Percent Profits In Q2
    Private sector bank, HDFC Bank has posted a 17.6 percent rise in net profit at Rs 8,834.3 crore in the second quarter ended September 30, 2021. The lender had posted a net profit of Rs 7,513.1 crore in Q2 of 2020.
  • 2021-10-12 : IDFC First Bank Revises Interest Rate For Loan Against Property
    Indian private sector bank, IDFC First Bank has reduced interest rates for loans against property. Currently, the lender is offering loans at an interest rate of 7.50% for all the loan amounts.
  • 2021-10-11 : Punjab National Bank Introduces 6S Campaign
    Punjab National Bank (PNB) has launched the 6S Campaign. The campaign consists of schemes like Swabhiman, Samruddhi, Sampark and Shikhar, Sankalp and Swagat. The objective of the campaign is to spread awareness about the development of financial services and accelerate credit growth, improve penetration of social security schemes and drive digital banking push.
  • 2021-10-06 : Central Bank of India Partners With IIFL Home Finance
    Central Bank of India has announced a strategic co-lending partnership with IIFL Home Finance. Under the partnership, IIFL Home Finance Ltd will process credit parameters and eligibility criteria. Central Bank of India will take into its book 80% of the SME LAP Loans under mutually agreed terms.
*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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