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Compare Loan Against Property - Axis Bank vs Karnataka Bank

Bank
Parameters
Interest Rate
Interest Rate
10.50% - 11.25%
10.82% - 11.77%
Processing Fees
Processing Fees
Upto 1.00%
Min ₹ 10,000; Max ₹ 10,000
NIL
Maximum Loan Amount
Maximum Loan Amount
₹ 7 Cr
₹ 1 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 60%
Upto 50%
Maximum Tenure
Maximum Tenure
15 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,105
₹ 1,125
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
24 Years
21 Years
Maximum Age
Maximum Age
65 Years
60 Years
Overdraft Facility
Overdraft Facility
Y - Overdraft Against Property
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
4.5/5.0
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Compare EMI of Axis Bank and Karnataka Bank Loan Against Property

Loan Amount Axis Bank Karnataka Bank
₹ 10 Lakh ₹ 11,054 ₹ 11,253
₹ 15 Lakh ₹ 16,581 ₹ 16,880
₹ 30 Lakh ₹ 33,162 ₹ 33,760
₹ 50 Lakh ₹ 55,270 ₹ 56,266

Which is a better bank for Loan Against Property – Axis Bank or Karnataka Bank?

Axis Bank offers lower Loan Against Property EMI at ₹ 1,105 on a Loan Against Property for 15 Years as compared to Karnataka Bank with a minimum EMI of ₹ 1,125 for 15 Years. Average customer ratings for Axis Bank is currently at 4.5/5.0 which makes it a good choice for taking a Loan Against Property.

How does Axis Bank Loan Against Property compare with Karnataka Bank Loan Against Property?

It is important to do a detailed comparison of Axis Bank 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 Axis Bank Loan Against Property is 10.50%, which is lower than the lowest interest rate of Karnataka Bank at 10.82% and hence, Axis Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Karnataka Bank charges a lower processing fees of Nil vs Axis Bank with a processing fees of 1.00% of loan amount.
  • Axis Bank offers Loan Against Property upto 60% of the property value while Karnataka Bank offers mortgage loan upto 50% of property value. Hence, Axis Bank can be a better option if you are looking for a high value amount.
  • Axis Bank is a Private Bank with its Loan Against Property rates benchmarked to RLLR. Karnataka Bank is a Private Bank with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to same rate which make them a comparable option to choose from.
  • Axis Bank with an average customer ratings of 4.5 is equally comparable to Karnataka Bank with an average customer rating of 4.5, and hence, the customer can expect the same kind of service levels from these banks.
  • One unique feature of Axis Bank is its overdraft facility which allows borrowers to minimize their interest outgo by paying interest only on the loan amount utilized. This scheme makes it an apt choice for self-employed and businessmen with fluctuating fund requirements.

Which bank offers lower interest rate on Loan Against Property – Axis Bank or Karnataka Bank?

As per the current rates, Axis Bank offers a lower interest rate of 10.50% on Loan Against Property when compared to Karnataka Bank which offers a Loan Against Property at 10.82%.

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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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