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Compare Loan Against Property - Allahabad Bank vs PNB Housing Finance

Bank
Parameters
Interest Rate
Interest Rate
14.15% - 14.15%
9.50% - 10.15%
Processing Fees
Processing Fees
Upto 0.53%
Min ₹ 2,670; Max ₹ 80,100
Upto 1.00%
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
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,642
₹ 932
Benchmark Rate
Benchmark Rate
RLLR
PLR
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)
4.2/5.0
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Compare EMI of Allahabad Bank and PNB Housing Finance Loan Against Property

Loan Amount Allahabad Bank PNB Housing Finance
₹ 10 Lakh ₹ 16,422 ₹ 9,321
₹ 15 Lakh ₹ 24,632 ₹ 13,982
₹ 30 Lakh ₹ 49,265 ₹ 27,964
₹ 50 Lakh ₹ 82,108 ₹ 46,607

Which is a better bank for Loan Against Property – PNB Housing Finance or Allahabad Bank?

PNB Housing Finance offers lower Loan Against Property EMI at ₹ 932 on a Loan Against Property for 20 Years as compared to Allahabad Bank with a minimum EMI of ₹ 1,642 for 9 Years. Average customer ratings for PNB Housing Finance is currently at 4.2/5.0 which makes it a good choice for taking a Loan Against Property.

How does PNB Housing Finance Loan Against Property compare with Allahabad Bank Loan Against Property?

It is important to do a detailed comparison of PNB Housing Finance and Loan Against Property 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 PNB Housing Finance Loan Against Property is 9.50%, which is lower than the lowest interest rate of Allahabad Bank at 14.15% and hence, PNB Housing Finance 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 PNB Housing Finance with a processing fees of 1.00% of loan amount.
  • Allahabad Bank offers Loan Against Property upto 60% of the property value while PNB Housing Finance 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 Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. PNB Housing Finance is a HFC with its home loan rates benchmarked to PLR.
  • PNB Housing Finance has an average customer ratings of 4.2, while has an average customer rating of , based on which it is clear that PNB Housing Finance has a high customer service focus, an easy Loan Against Property process and a quick turnaround.

Which bank offers lower interest rate on Loan Against Property – PNB Housing Finance or Allahabad Bank?

As per the current rates, PNB Housing Finance offers a lower interest rate of 9.50% 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 - May 2021
  • 2021-05-12 : ICICI Bank reduced its loan against property rates to 8.85%
    ICICI Bank cut its mortgage loan rates to 8.85%. The revised rates will be applicable for the month of May. The rate cut will help the mortgage loan borrowers to reduce the cost of the loan against property.
  • 2021-05-10 : Reduced loan against property rates for Bajaj Home Finance
    Bajaj Home Finance cut its loan against property rates. The new loan against property rates starts from 9%. The revised rates will be effective from 10 May 2021. The cut in mortgage loan will help LAP borrowers.
  • 2021-04-30 : PNB Housing Finance posted ₹127-cr net profit in Q4
    PNB Housing Finance reported a consolidated net profit of Rs 127 crore in Q4 backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with deposits which include fixed and recurring deposits. Total income during January-March was down at Rs 1,834 crore from Rs 1,952 crore in the same period of 2019-20. Interest income dropped over 7% at Rs 1,670 crore during the quarter as against Rs 1,803 crore a year earlier.
  • 2021-04-30 : Bajaj Finserv reported a Q4 profit of ₹979 crore
    Bajaj Finserv posted a net profit of ₹ 979 crores in the January-March quarter, which marked an increase of 5 times from the profit of ₹ 194 crores during the same quarter last year. The NBFC reported the surge in profit backed by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with business and mudra loan.
  • 2021-04-30 : AU Small Finance Bank Q4 net profit up 38 per cent at Rs 169 cr
    AU Small Finance Bank reported a 38% hike in its net profit at Rs 168.98 crore for the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans like home, personal, LAP, two-wheeler, car, education and doctor loan along with deposits which include fixed and recurring deposits. Total income during Q4 FY21 rose to Rs 1,569 crore as against Rs 1,366.60 crore. Interest income moved up to Rs 1,292.37 crore during the reported quarter from Rs 1,183.45 crore in the year-ago period.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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