Compare Loan Against Property - HDFC Bank vs Andhra Bank

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Bank	SBI HDFC ICICI Bank Axis Bank Citibank PNB Housing Finance LIC Housing Finance Kotak Bank Yes Bank Bajaj Home Finance IDFC First Bank RBL Bank Syndicate Bank IDBI Bank Union Bank of India Jammu And Kashmir Bank Lakshmi Vilas Bank Allahabad Bank Bank of India Canara Bank Central Bank of India Punjab and Sind Bank UCO Bank South Indian Bank United Bank of India DBS Bank Piramal Housing Finance Cholamandalam IndusInd Bank Federal Bank Edelweiss Karnataka Bank Dhan Laxmi Bank DCB Bank Indiabulls HDFC Bank Karur Vysya Bank PNB OBC Indian Overseas Bank Indian Bank Corporation Bank HSBC Bank Standard Chartered Bank	SBI HDFC ICICI Bank Axis Bank Citibank PNB Housing Finance LIC Housing Finance Kotak Bank Yes Bank Bajaj Home Finance IDFC First Bank RBL Bank Syndicate Bank IDBI Bank Union Bank of India Lakshmi Vilas Bank Allahabad Bank Andhra Bank Bank of India Canara Bank Central Bank of India Punjab and Sind Bank UCO Bank Federal Bank United Bank of India DBS Bank Piramal Housing Finance Cholamandalam IndusInd Bank Jammu And Kashmir Bank Edelweiss South Indian Bank Karnataka Bank Dhan Laxmi Bank DCB Bank Indiabulls Karur Vysya Bank PNB OBC Indian Overseas Bank Indian Bank Corporation Bank HSBC Bank Standard Chartered Bank
Parameters
Interest Rate	Interest Rate 8.50% - 9.50%	10.75% - 11.25%
Processing Fees	Processing Fees Upto 0.75%	NIL
Maximum Loan Amount	Maximum Loan Amount ₹ 5 Cr	₹ 2 Cr
Loan to Property Value Ratio	Loan to Property Value Ratio Upto 65%	Upto 50%
Maximum Tenure	Maximum Tenure 15 Years	10 Years
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 985	₹ 1,363
Benchmark Rate	Benchmark Rate RLLR	RLLR
Minimum Age	Minimum Age 21 Years	21 Years
Maximum Age	Maximum Age 65 Years	65 Years
Overdraft Facility	Overdraft Facility Y - Dropline OD Against Property	N
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.7/5.0	4.7/5.0

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Compare EMI of HDFC Bank and Andhra Bank Loan Against Property

Loan Amount	HDFC Bank	Andhra Bank
₹ 10 Lakh	₹ 9,847	₹ 13,634
₹ 15 Lakh	₹ 14,771	₹ 20,451
₹ 30 Lakh	₹ 29,542	₹ 40,902
₹ 50 Lakh	₹ 49,237	₹ 68,169

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

HDFC Bank offers lower Loan Against Property EMI at ₹ 985 on a Loan Against Property for 15 Years as compared to Andhra Bank with a minimum EMI of ₹ 1,363 for 10 Years. Average customer ratings for HDFC Bank is currently at 4.7/5.0 which makes it a good choice for taking a Loan Against Property.

How does HDFC Bank Loan Against Property compare with Andhra Bank Loan Against Property?

It is important to do a detailed comparison of HDFC 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 HDFC Bank Loan Against Property is 8.50%, which is lower than the lowest interest rate of Andhra Bank at 10.75% and hence, HDFC Bank is offering a cheaper loan option.
When compared on other Loan Against Property charges such as processing fees, Andhra Bank charges a lower processing fees of Nil vs HDFC Bank with a processing fees of 0.75% of loan amount.
Andhra Bank offers Loan Against Property upto 65% of the property value while HDFC Bank offers mortgage loan upto 50% of property value. Hence, Andhra Bank can be a better option if you are looking for a high value amount.
Andhra Bank is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. HDFC 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.
Andhra Bank with an average customer ratings of 4.7 is equally comparable to HDFC Bank with an average customer rating of 4.7, and hence, the customer can expect the same kind of service levels from these banks.
One unique feature of HDFC 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 – HDFC Bank or Andhra Bank?

As per the current rates, HDFC Bank offers a lower interest rate of 8.50% on Loan Against Property when compared to Andhra Bank which offers a Loan Against Property at 10.75%.

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Loan Against Property News - Jun 2021

2021-06-10 : Rural Loan Collections to be affected by the Second wave
As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
2021-06-10 : Edelweiss to become co-lending partners with Central Bank of India
Edelweiss Retail Finance Ltd. (ERFL) strengthened its co-lending partnership with the Central Bank of India in order to ensure priority sector lending to the MSMEs. MSMEs can now avail collateral free loans of upto 50 lakhs and Loan against property of upto Rs 10 crores.
2021-06-10 : Central Bank of India to become co-lending partners with Edelweiss
Edelweiss Retail Finance Ltd. (ERFL) strengthened its co-lending partnership with the Central Bank of India in order to ensure priority sector lending to the MSMEs. MSMEs can now avail collateral free loans of upto 50 lakhs and Loan against property of upto Rs 10 crores.
2021-06-09 : Growth of upto 18% expected by IIFL Home Finance on loans
IIFL Home Finance expects a growth on its loan book which includes Home loans and Loan against property of upto 18%.
2021-06-09 : IIFL Home Finance signs MOU with Central bank of India
IIFL Home Finance signed a MOU with Central bank of India for co-lending. The Central bank will be providing 80% of the loan amount of IIFL.

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