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Compare IDFC First Bank vs Union Bank of India Loan Against Property

Download Comparison
Interest Rate
Interest Rate
7.00% - 14.00%
10.20% - 10.30%
Processing Fees
Processing Fees
Upto 3.00%
Min ₹ 2,500; Max ₹ 5,000
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 10 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 80%
Upto 50%
Maximum Tenure
Maximum Tenure
20 Years
12 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 775
₹ 1,207
Benchmark Rate
Benchmark Rate
Minimum Age
Minimum Age
21 Years
18 Years
Maximum Age
Maximum Age
65 Years
70 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 Union Bank of India

Loan Amount IDFC First Bank Union Bank of India
₹ 10 Lakh ₹ 7,753 ₹ 12,067
₹ 15 Lakh ₹ 11,629 ₹ 18,100
₹ 30 Lakh ₹ 23,259 ₹ 36,200
₹ 50 Lakh ₹ 38,765 ₹ 60,333

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

IDFC First Bank offers lower Loan Against Property EMI at ₹ 775 on a Loan Against Property for 20 Years as compared to Union Bank of India with a minimum EMI of ₹ 1,207 for 12 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 Union Bank of India Loan Against Property?

It is important to do a detailed comparison of IDFC First 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 IDFC First Bank Loan Against Property is 7.00%, which is lower than the lowest interest rate of Union Bank of India at 10.20% and hence, IDFC First 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 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 Union Bank of India offers mortgage loan upto 50% 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. 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.
  • with an average customer ratings of is equally comparable to with an average customer rating of , and hence, the customer can expect the same kind of service levels from these banks.
  • 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 Union Bank of India?

As per the current rates, IDFC First Bank offers a lower interest rate of 7.00% on Loan Against Property when compared to Union Bank of India which offers a Loan Against Property at 10.20%.

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Loan Against Property News - Aug 2022
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    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.
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    The Account Aggregator Framework has linked 332,000 accounts and has fulfilled over 310,000 consent requests since it has gone live. AA ensures swift data sharing with the consent of the user and eliminates the need for physical documents.
  • 2022-04-28 : Union Bank Rolls out Automated Solution for Recovery of Bad Loans
    Union Bank of India will be using a first-of-its-kind stressed asset recovery automated solution (SARAS) to help the bank enforce securities, track recoveries, and enhance monitoring of stressed assets.
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