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Compare Bank of India vs HDFC Loan Against Property

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Bank
Interest Rate
Interest Rate
8.85% - 9.35%
8.75% - 9.90%
Processing Fees
Processing Fees
Upto 1.00%
Min ₹ 5,000; Max ₹ 50,000
Upto 0.75%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 40%
Upto 50%
Maximum Tenure
Maximum Tenure
12 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,130
₹ 999
Benchmark Rate
Benchmark Rate
RLLR
PLR
Minimum Age
Minimum Age
21 Years
24 Years
Maximum Age
Maximum Age
70 Years
65 Years
Overdraft Facility
Overdraft Facility
Y - OD
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
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Compare Loan Against Property EMI of Bank of India and HDFC

Loan Amount Bank of India HDFC
₹ 10 Lakh ₹ 11,296 ₹ 9,994
₹ 15 Lakh ₹ 16,944 ₹ 14,992
₹ 30 Lakh ₹ 33,888 ₹ 29,983
₹ 50 Lakh ₹ 56,480 ₹ 49,972

Which is a better bank for Loan Against Property – HDFC or Bank of India?

HDFC offers lower Loan Against Property EMI at ₹ 999 on a Loan Against Property for 15 Years as compared to Bank of India with a minimum EMI of ₹ 1,130 for 12 Years. Average customer ratings for HDFC is currently at 4.5/5.0 which makes it a good choice for taking a Loan Against Property.

How does HDFC Loan Against Property compare with Bank of India Loan Against Property?

It is important to do a detailed comparison of HDFC and Bank of India 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 HDFC Loan Against Property is 8.75%, which is lower than the lowest interest rate of Bank of India at 8.85% and hence, HDFC is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, HDFC charges a lower processing fees of 0.75% of the loan amount vs Bank of India with a processing fees of 1.00% of loan amount.
  • Bank of India offers Loan Against Property upto 50% of the property value while HDFC offers mortgage loan upto 40% of property value. Hence, Bank of India can be a better option if you are looking for a high value amount.
  • Bank of India is a with its Loan Against Property rates benchmarked to RLLR. HDFC is a with its home loan rates benchmarked to PLR.
  • HDFC has an average customer ratings of 4.5, while has an average customer rating of , based on which it is clear that HDFC has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • One unique feature of Bank of India 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 – HDFC or Bank of India?

As per the current rates, HDFC offers a lower interest rate of 8.75% on Loan Against Property when compared to Bank of India which offers a Loan Against Property at 8.85%.

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Loan Against Property News - Oct 2021
  • 2021-10-25 : Yes Bank Q2 Net Profit Up By 74 Percent
    Yes Bank has posted a growth in net profit of 74.3 percent to Rs 225 crore in the Q2 (FY2022) ended September 2021. There was an uptick in non-interest income and a dip in provisions due to lower slippages. The bank had posted a net profit of Rs 129 crore for Q2 in FY2021.
  • 2021-10-22 : IDBI Bank Net Profit Jumps To 75 percent
    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.
  • 2021-10-22 : South Indian Bank Ltd Posts Loss in Q2 FY2021-22
    For the quarter ended September 30, 2021, the total income of the bank was ₹ 1746.03 crores as against ₹2115.71 crores in the corresponding quarter of the previous year and ₹2081.73 crores in the previous quarter. As a result, the bank has reported a loss of Rs. 187.06 crore for Q2 of FY 2021-22.
  • 2021-10-22 : Bank of Maharashtra Q2 Profit Jumps To 103 percent
    Bank of Maharashtra posted a 102.71 percent Y-o-Y rise in its net profit to Rs 264 crore for the September quarter (Q2). The net interest margin improved to 3.27 percent on a Y-o-Y basis against 2.3% in the comparable quarter last year. Net interest income increased by 33.84 percent to Rs 1,500 crore, compared with Rs 1,120 crore during Q2FY21.
  • 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.
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