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Compare HDFC Bank vs ICICI Bank Loan Against Property

Download Comparison
Bank
Interest Rate
Interest Rate
9.90% - 10.85%
9.75% - 10.40%
Processing Fees
Processing Fees
Upto 0.50%
Max ₹ 7,500
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 7 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 65%
Upto 60%
Maximum Tenure
Maximum Tenure
15 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,068
₹ 1,059
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
3.7/5.0
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Compare Loan Against Property EMI of HDFC Bank and ICICI Bank

Loan Amount HDFC Bank ICICI Bank
₹ 10 Lakh ₹ 10,685 ₹ 10,594
₹ 15 Lakh ₹ 16,027 ₹ 15,890
₹ 30 Lakh ₹ 32,055 ₹ 31,781
₹ 50 Lakh ₹ 53,425 ₹ 52,968

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

ICICI Bank offers lower Loan Against Property EMI at ₹ 1,059 on a Loan Against Property for 15 Years as compared to HDFC Bank with a minimum EMI of ₹ 1,068 for 15 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 HDFC Bank Loan Against Property?

It is important to do a detailed comparison of ICICI Bank and HDFC 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 ICICI Bank Loan Against Property is 9.75%, which is lower than the lowest interest rate of HDFC Bank at 9.90% and hence, ICICI Bank is offering a cheaper loan option.
  • When compared to other Loan Against Property charges such as processing fees HDFC Bank and ICICI Bank charge the lowest processing fees as 0.50% of the loan amount.
  • HDFC Bank offers Loan Against Property upto 65% of the property value while ICICI Bank offers mortgage loan upto 60% of property value. Hence, HDFC Bank can be a better option if you are looking for a high value amount.
  • HDFC Bank is a with its Loan Against Property rates benchmarked to RLLR. On the other hand, ICICI 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.
  • HDFC Bank has an average customer ratings of 4.7, while ICICI Bank has an average customer rating of 3.7, based on which it is clear that HDFC Bank has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • 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 a lower interest rate on Loan Against Property – ICICI Bank or HDFC Bank?

As per the current rates, ICICI Bank offers a lower interest rate of 9.75% on Loan Against Property when compared to HDFC Bank which offers a Loan Against Property at 9.90%.

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Loan Against Property News - Dec 2022
  • 2022-11-02 : Karnataka Bank Registers Net Profit in the Q2 of 2022-23
    The bank has registered a net profit of ₹411.63 crores in the Q2 of 2022-23. In the corresponding quarter, it saw ₹125.61 crores, thus registering a growth of 227.70 percent.
  • 2022-10-18 : SBI Credit Card Holders ALERT! State Bank hikes charges on EMI transactions, Rent Payments
    In a move that may further make credit card usage costlier, the State Bank of India has revised certain charges for its credit card users. The new charges will come into effect from November 15. The processing fee on merchant EMI transactions has been revised to Rs 199 + applicable taxes from earlier Rs 99 + applicable taxes. Processing fee on rent payment transactions will be Rs 99 + applicable taxes," said the bank.
  • 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.
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