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Compare IDFC First Bank vs LIC Housing Finance Loan Against Property

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Interest Rate
Interest Rate
7.00% - 14.00%
8.85% - 10.50%
Processing Fees
Processing Fees
Upto 3.00%
Min ₹ 2,500; Max ₹ 5,000
Upto 0.50%
Max ₹ 25,000
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 80%
Upto 70%
Maximum Tenure
Maximum Tenure
20 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 775
₹ 1,005
Benchmark Rate
Benchmark Rate
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
Overdraft Facility
Overdraft Facility
Y - Short and Sweet
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Loan Against Property EMI of IDFC First Bank and LIC Housing Finance

Loan Amount IDFC First Bank LIC Housing Finance
₹ 10 Lakh ₹ 7,753 ₹ 10,054
₹ 15 Lakh ₹ 11,629 ₹ 15,080
₹ 30 Lakh ₹ 23,259 ₹ 30,161
₹ 50 Lakh ₹ 38,765 ₹ 50,268

Which is a better bank for Loan Against Property – IDFC First Bank or LIC Housing Finance?

IDFC First Bank offers lower Loan Against Property EMI at ₹ 775 on a Loan Against Property for 20 Years as compared to LIC Housing Finance with a minimum EMI of ₹ 1,005 for 15 Years. Average customer ratings for IDFC First Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does IDFC First Bank Loan Against Property compare with LIC Housing Finance Loan Against Property?

It is important to do a detailed comparison of IDFC First Bank and LIC Housing Finance 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 IDFC First Bank Loan Against Property is 7.00%, which is lower than the lowest interest rate of LIC Housing Finance at 8.85% and hence, IDFC First Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, LIC Housing Finance charges a lower processing fees of 0.50% of the loan amount vs IDFC First Bank with a processing fees of 3.00% of loan amount.
  • IDFC First Bank offers Loan Against Property upto 80% of the property value while LIC Housing Finance offers mortgage loan upto 70% of property value. Hence, IDFC First Bank can be a better option if you are looking for a high value amount.
  • IDFC First Bank is a with its Loan Against Property rates benchmarked to RLLR. LIC Housing Finance is a with its home loan rates benchmarked to PLR.
  • LIC Housing Finance has an average customer ratings of 5, while has an average customer rating of , based on which it is clear that LIC Housing Finance has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • One unique feature of IDFC First 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 – IDFC First Bank or LIC Housing Finance?

As per the current rates, IDFC First Bank offers a lower interest rate of 7.00% on Loan Against Property when compared to LIC Housing Finance which offers a Loan Against Property at 8.85%.

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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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