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Compare Federal Bank vs Kotak Bank Loan Against Property

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Bank
Interest Rate
Interest Rate
11.00% - 11.00%
9.50% - 11.70%
Processing Fees
Processing Fees
Upto 0.50%
Min ₹ 3,000; Max ₹ 7,500
Upto 1.00%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 3 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 50%
Upto 55%
Maximum Tenure
Maximum Tenure
10 Years
12 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,378
₹ 1,166
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
25 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
Overdraft Facility
Overdraft Facility
Y - Home Saver
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
3.1/5.0
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Compare Loan Against Property EMI of Federal Bank and Kotak Bank

Loan Amount Federal Bank Kotak Bank
₹ 10 Lakh ₹ 13,775 ₹ 11,664
₹ 15 Lakh ₹ 20,662 ₹ 17,496
₹ 30 Lakh ₹ 41,325 ₹ 34,991
₹ 50 Lakh ₹ 68,875 ₹ 58,319

Which is a better bank for Loan Against Property – Kotak Bank or Federal Bank?

Kotak Bank offers lower Loan Against Property EMI at ₹ 1,166 on a Loan Against Property for 12 Years as compared to Federal Bank with a minimum EMI of ₹ 1,378 for 10 Years. Average customer ratings for Kotak Bank is currently at 3.1/5.0 which makes it a good choice for taking a Loan Against Property.

How does Kotak Bank Loan Against Property compare with Federal Bank Loan Against Property?

It is important to do a detailed comparison of Kotak Bank and Federal 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 Kotak Bank Loan Against Property is 9.50%, which is lower than the lowest interest rate of Federal Bank at 11.00% and hence, Kotak Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Federal Bank charges a lower processing fees of 0.50% of the loan amount vs Kotak Bank with a processing fees of 1.00% of loan amount.
  • Federal Bank offers Loan Against Property upto 55% of the property value while Kotak Bank offers mortgage loan upto 50% of property value. Hence, Federal Bank can be a better option if you are looking for a high value amount.
  • Federal Bank is a with its Loan Against Property rates benchmarked to RLLR. On the other hand, Kotak Bank is a with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to the same rate, making them a comparable option to choose from.
  • Federal Bank has an average customer ratings of 4.5, while Kotak Bank has an average customer rating of 3.1, based on which it is clear that Federal Bank has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • Kotak Bank offers special discounted rate Loan Against Property schemes for women, while Federal Bank currently doesn’t have such schemes for women. Hence, women borrowers should consider Kotak Bank.
  • One unique feature of Federal 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 – Kotak Bank or Federal Bank?

As per the current rates, Kotak Bank offers a lower interest rate of 9.50% on Loan Against Property when compared to Federal Bank which offers a Loan Against Property at 11.00%.

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Loan Against Property News - Oct 2022
  • 2022-09-12 : Indian Overseas Bank raises MCLR rates by up to 0.10%
    Indian Overseas Bank has revised upwards the MCLR rates by 0.10 per cent across tenors. The benchmark 1-year tenor marginal cost of funds based lending rate (MCLR) has been revised to 7.75 per cent against the existing rate of 7.65 per cent. The two and three-year MCLRs have been hiked by a similar margin to 7.80 per cent each.
  • 2022-08-18 : HDFC bank opens its first all women branch in Kerela`s kozhikode.
    HDFC has opened its first all-women branch in Kozhikode. The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers. HDFC Bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity.
  • 2022-08-18 : CCI`s nod to the merger of HDFC Bank, HDFC Ltd.
    The Competition Commission of India (CCI) has approved the proposal of merger of HDFC Bank and HDFC Ltd. Commission`s positive response to the combination involving amalgamation of HDFC Limited, HDFc Bank, HDFC Investments and HDFC Holdings.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
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