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Compare IDFC First Bank vs SBI Loan Against Property

Download Comparison
Bank
Interest Rate
Interest Rate
7.00% - 14.00%
9.10% - 13.10%
Processing Fees
Processing Fees
Upto 3.00%
Min ₹ 2,500; Max ₹ 5,000
Upto 1.00%
Max ₹ 50,000
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 7.50 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 80%
Upto 80%
Maximum Tenure
Maximum Tenure
20 Years
10 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 775
₹ 1,272
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
18 Years
Maximum Age
Maximum Age
65 Years
70 Years
Overdraft Facility
Overdraft Facility
Y - Short and Sweet
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.5/5.0
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Compare Loan Against Property EMI of IDFC First Bank and SBI

Loan Amount IDFC First Bank SBI
₹ 10 Lakh ₹ 7,753 ₹ 12,722
₹ 15 Lakh ₹ 11,629 ₹ 19,083
₹ 30 Lakh ₹ 23,259 ₹ 38,165
₹ 50 Lakh ₹ 38,765 ₹ 63,609

Which is a better bank for Loan Against Property – IDFC First Bank or SBI?

IDFC First Bank offers lower Loan Against Property EMI at ₹ 775 on a Loan Against Property for 20 Years as compared to SBI with a minimum EMI of ₹ 1,272 for 10 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 SBI Loan Against Property?

It is important to do a detailed comparison of IDFC First Bank and SBI 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 SBI at 9.10% and hence, IDFC First Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, SBI charges a lower processing fees of 1.00% of the loan amount vs IDFC First Bank with a processing fees of 3.00% of loan amount.
  • IDFC First Bank and SBI offer mortgage loan upto 80% of the value of the property. Hence, the same loan to property value ratio makes them a comparable option to choose from.
  • IDFC First Bank is a with its Loan Against Property rates benchmarked to RLLR. On the other hand, SBI 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.
  • SBI has an average customer ratings of 3.5, while has an average customer rating of , based on which it is clear that SBI 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 SBI?

As per the current rates, IDFC First Bank offers a lower interest rate of 7.00% on Loan Against Property when compared to SBI which offers a Loan Against Property at 9.10%.

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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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