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Compare Axis Bank vs LIC Housing Finance Loan Against Property

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Bank
Interest Rate
Interest Rate
8.50% - 11.00%
8.50% - 11.00%
Processing Fees
Processing Fees
Upto 0.75%
Upto 0.75%
Max ₹ 25,000
Maximum Loan Amount
Maximum Loan Amount
₹ 7 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 60%
Upto 70%
Maximum Tenure
Maximum Tenure
15 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 985
₹ 985
Benchmark Rate
Benchmark Rate
RLLR
PLR
Minimum Age
Minimum Age
24 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
Overdraft Facility
Overdraft Facility
Y - Overdraft Against Property
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.6/5.0
5/5.0
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Compare Loan Against Property EMI of Axis Bank and LIC Housing Finance

Loan Amount Axis Bank LIC Housing Finance
₹ 10 Lakh ₹ 9,847 ₹ 9,847
₹ 15 Lakh ₹ 14,771 ₹ 14,771
₹ 30 Lakh ₹ 29,542 ₹ 29,542
₹ 50 Lakh ₹ 49,237 ₹ 49,237

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

Axis Bank and LIC Housing Finance have the same interest rate on Loan Against Property, starting from 8.50%. Lowest EMI of Axis Bank is ₹ 985 for a maximum tenure of 15 Years. Lowest EMI of LIC Housing Finance is ₹ 985 for a maximum tenure of 15 Years.

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

It is important to do a detailed comparison of Axis Bank and LIC Housing Finance 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 Axis Bank and LIC Housing Finance Loan Against Property is 8.50%. Hence, both banks are at par in terms of interest rates on Loan Against Property.
  • When compared to other Loan Against Property charges such as processing fees Axis Bank and LIC Housing Finance charge the lowest processing fees as 0.75% of the loan amount.
  • Axis Bank offers Loan Against Property upto 70% of the property value while LIC Housing Finance offers mortgage loan upto 60% of property value. Hence, Axis Bank can be a better option if you are looking for a high value amount.
  • Axis 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 Axis Bank has an average customer rating of 4.6, 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.
  • 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 a lower interest rate on Loan Against Property – Axis Bank or LIC Housing Finance?

The lowest interest rate for both Axis Bank and LIC Housing Finance on Loan Against Property currently starts from 8.50%, and hence, both banks are a good choice for potential borrowers.

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Loan Against Property News - Oct 2021
  • 2021-10-20 : Banks Gross NPAs To Increase To 8-9 Percent
    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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