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Compare Andhra Bank vs LIC Housing Finance Loan Against Property

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Bank
Interest Rate
Interest Rate
10.75% - 11.25%
8.50% - 11.00%
Processing Fees
Processing Fees
NIL
Upto 0.75%
Max ₹ 25,000
Maximum Loan Amount
Maximum Loan Amount
₹ 2 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 50%
Upto 70%
Maximum Tenure
Maximum Tenure
10 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,363
₹ 985
Benchmark Rate
Benchmark Rate
RLLR
PLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
5/5.0
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Compare Loan Against Property EMI of Andhra Bank and LIC Housing Finance

Loan Amount Andhra Bank LIC Housing Finance
₹ 10 Lakh ₹ 13,634 ₹ 9,847
₹ 15 Lakh ₹ 20,451 ₹ 14,771
₹ 30 Lakh ₹ 40,902 ₹ 29,542
₹ 50 Lakh ₹ 68,169 ₹ 49,237

Which is a better bank for Loan Against Property – LIC Housing Finance or Andhra Bank?

LIC Housing Finance offers lower Loan Against Property EMI at ₹ 985 on a Loan Against Property for 15 Years as compared to Andhra Bank with a minimum EMI of ₹ 1,363 for 10 Years. Average customer ratings for LIC Housing Finance is currently at 5/5.0 which makes it a good choice for taking a Loan Against Property.

How does LIC Housing Finance Loan Against Property compare with Andhra Bank Loan Against Property?

It is important to do a detailed comparison of LIC Housing Finance and Andhra 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 LIC Housing Finance Loan Against Property is 8.50%, which is lower than the lowest interest rate of Andhra Bank at 10.75% and hence, LIC Housing Finance 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 LIC Housing Finance with a processing fees of 0.75% of loan amount.
  • Andhra Bank offers Loan Against Property upto 70% of the property value while LIC Housing Finance offers mortgage loan upto 50% of property value. Hence, Andhra Bank can be a better option if you are looking for a high value amount.
  • Andhra Bank is a with its Loan Against Property rates benchmarked to RLLR. LIC Housing Finance is a with its home loan rates benchmarked to PLR.
  • LIC Housing Finance has an average customer ratings of 5, while has an average customer rating of , based on which it is clear that LIC Housing Finance has a high customer service focus, an easy Loan Against Property process and a quick turnaround.

Which bank offers a lower interest rate on Loan Against Property – LIC Housing Finance or Andhra Bank?

As per the current rates, LIC Housing Finance offers a lower interest rate of 8.50% on Loan Against Property when compared to Andhra Bank which offers a Loan Against Property at 10.75%.

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Loan Against Property News - Oct 2021
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    IDBI Bank reported a 75 percent year-on-year (y-o-y) jump in net profit to Rs 567 crore for the quarter ended September. This is a result driven by a reduction in employee costs and an improvement in net interest income (NII). The bank’s NII, or the difference between interest earned and interest expended, rose 9.45 percent y-o-y to Rs 1,854 crore.
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