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Compare Andhra Bank vs Allahabad Bank Loan Against Property

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Bank
Interest Rate
Interest Rate
10.75% - 11.25%
14.15% - 14.15%
Processing Fees
Processing Fees
NIL
Upto 0.53%
Min ₹ 2,670; Max ₹ 80,100
Maximum Loan Amount
Maximum Loan Amount
₹ 2 Cr
₹ 2 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 50%
Upto 50%
Maximum Tenure
Maximum Tenure
10 Years
9 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,363
₹ 1,642
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
70 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 Andhra Bank and Allahabad Bank

Loan Amount Andhra Bank Allahabad Bank
₹ 10 Lakh ₹ 13,634 ₹ 16,422
₹ 15 Lakh ₹ 20,451 ₹ 24,632
₹ 30 Lakh ₹ 40,902 ₹ 49,265
₹ 50 Lakh ₹ 68,169 ₹ 82,108

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

Andhra Bank offers lower Loan Against Property EMI at ₹ 1,363 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 Andhra Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does Andhra Bank Loan Against Property compare with Allahabad Bank Loan Against Property?

It is important to do a detailed comparison of Andhra 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 Andhra Bank Loan Against Property is 10.75%, which is lower than the lowest interest rate of Allahabad Bank at 14.15% and hence, Andhra Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Andhra Bank charges a lower processing fees of Nil vs Allahabad Bank with a processing fees of 0.53% of loan amount.
  • Allahabad Bank and Andhra Bank offer mortgage loan upto 50% of the value of the property. Hence, the same loan to property value ratio makes them a comparable option to choose from.
  • Allahabad Bank is a with its Loan Against Property rates benchmarked to RLLR. On the other hand, Andhra 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 – Andhra Bank or Allahabad Bank?

As per the current rates, Andhra Bank offers a lower interest rate of 10.75% 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 - Jan 2022
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    The Union Cabinet has approved a sanction of ₹973.74 crores for lenders to reimburse the loan moratorium. Earlier, on March 27, 2020, the Reserve Bank of India (RBI) had announced a loan moratorium on payment of instalments of term loans falling due between March 1 and May 31, 2020, due to the pandemic, which was extended to August 31.
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    Bajaj Finance Ltd (BFL) has reported an 84 per cent year-on-year (YoY) jump in third-quarter standalone net profit. The growth has been seen on the back of healthy growth in net interest income, fees and commission income and other operating income.
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  • 2022-01-07 : Tata Capital Launches Flexi Plus Loans for Different Categories
    Tata Capital has launched Flexi Plus loans across different products including, personal, business, loan Against Property, two-Wheeler and home Loans. The loan comes with longer tenure, overdraft facility and a step-up plan.
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*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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