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Compare IDBI Bank vs Union Bank of India Loan Against Property

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Bank
Interest Rate
Interest Rate
8.25% - 9.25%
9.80% - 9.90%
Processing Fees
Processing Fees
Upto 1.00%
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 10 Cr
₹ 10 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 65%
Upto 50%
Maximum Tenure
Maximum Tenure
15 Years
12 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 970
₹ 1,184
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
25 Years
18 Years
Maximum Age
Maximum Age
70 Years
70 Years
Overdraft Facility
Overdraft Facility
Y - OD
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4/5.0
4/5.0
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Compare Loan Against Property EMI of IDBI Bank and Union Bank of India

Loan Amount IDBI Bank Union Bank of India
₹ 10 Lakh ₹ 9,701 ₹ 11,836
₹ 15 Lakh ₹ 14,552 ₹ 17,753
₹ 30 Lakh ₹ 29,104 ₹ 35,507
₹ 50 Lakh ₹ 48,507 ₹ 59,178

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

IDBI Bank offers lower Loan Against Property EMI at ₹ 970 on a Loan Against Property for 15 Years as compared to Union Bank of India with a minimum EMI of ₹ 1,184 for 12 Years. Average customer ratings for IDBI Bank is currently at 4/5.0 which makes it a good choice for taking a Loan Against Property.

How does IDBI Bank Loan Against Property compare with Union Bank of India Loan Against Property?

It is important to do a detailed comparison of IDBI Bank and Union 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 IDBI Bank Loan Against Property is 8.25%, which is lower than the lowest interest rate of Union Bank of India at 9.80% and hence, IDBI Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Union Bank of India charges a lower processing fees of 0.50% of the loan amount vs IDBI Bank with a processing fees of 1.00% of loan amount.
  • IDBI Bank offers Loan Against Property upto 65% of the property value while Union Bank of India offers mortgage loan upto 50% of property value. Hence, IDBI Bank can be a better option if you are looking for a high value amount.
  • IDBI Bank is a with its Loan Against Property rates benchmarked to RLLR. On the other hand, Union Bank of India 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.
  • IDBI Bank with an average customer ratings of 4 is equally comparable to Union Bank of India with an average customer rating of 4, and hence, the customer can expect the same kind of service levels from these banks.
  • One unique feature of IDBI 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 – IDBI Bank or Union Bank of India?

As per the current rates, IDBI Bank offers a lower interest rate of 8.25% on Loan Against Property when compared to Union Bank of India which offers a Loan Against Property at 9.80%.

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