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Compare Loan Against Property - Corporation Bank vs ICICI Bank

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Bank
Parameters
Interest Rate
Interest Rate
11.35% - 13.35%
8.60% - 9.25%
Processing Fees
Processing Fees
Upto 1.00%
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 7 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 50%
Upto 60%
Maximum Tenure
Maximum Tenure
10 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,397
₹ 991
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
18 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)
3.7/5.0
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Compare EMI of Corporation Bank and ICICI Bank Loan Against Property

Loan Amount Corporation Bank ICICI Bank
₹ 10 Lakh ₹ 13,974 ₹ 9,906
₹ 15 Lakh ₹ 20,961 ₹ 14,859
₹ 30 Lakh ₹ 41,922 ₹ 29,718
₹ 50 Lakh ₹ 69,869 ₹ 49,530

Which is a better bank for Loan Against Property – ICICI Bank or Corporation Bank?

ICICI Bank offers lower Loan Against Property EMI at ₹ 991 on a Loan Against Property for 15 Years as compared to Corporation Bank with a minimum EMI of ₹ 1,397 for 10 Years. Average customer ratings for ICICI Bank is currently at 3.7/5.0 which makes it a good choice for taking a Loan Against Property.

How does ICICI Bank Loan Against Property compare with Corporation Bank Loan Against Property?

It is important to do a detailed comparison of ICICI 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 ICICI Bank Loan Against Property is 8.60%, which is lower than the lowest interest rate of Corporation Bank at 11.35% and hence, ICICI Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, ICICI Bank charges a lower processing fees of 0.50% of the loan amount vs Corporation Bank with a processing fees of 1.00% of loan amount.
  • Corporation Bank offers Loan Against Property upto 60% of the property value while ICICI Bank offers mortgage loan upto 50% of property value. Hence, Corporation Bank can be a better option if you are looking for a high value amount.
  • Corporation Bank is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. ICICI 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.
  • ICICI Bank has an average customer ratings of 3.7, while has an average customer rating of , based on which it is clear that ICICI Bank has a high customer service focus, an easy Loan Against Property process and a quick turnaround.

Which bank offers lower interest rate on Loan Against Property – ICICI Bank or Corporation Bank?

As per the current rates, ICICI Bank offers a lower interest rate of 8.60% on Loan Against Property when compared to Corporation Bank which offers a Loan Against Property at 11.35%.

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Loan Against Property News - Jul 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
    Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
*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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