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Compare Loan Against Property - Indian Bank vs Allahabad Bank

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Bank
Parameters
Interest Rate
Interest Rate
10.50% - 10.65%
14.15% - 14.15%
Processing Fees
Processing Fees
Upto 1.17%
Upto 0.53%
Min ₹ 2,670; Max ₹ 80,100
Maximum Loan Amount
Maximum Loan Amount
₹ 2 Cr
₹ 2 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 50%
Upto 50%
Maximum Tenure
Maximum Tenure
7 Years
9 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,686
₹ 1,642
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
18 Years
21 Years
Maximum Age
Maximum Age
60 Years
70 Years
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Indian Bank and Allahabad Bank Loan Against Property

Loan Amount Indian Bank Allahabad Bank
₹ 10 Lakh ₹ 16,861 ₹ 16,422
₹ 15 Lakh ₹ 25,291 ₹ 24,632
₹ 30 Lakh ₹ 50,582 ₹ 49,265
₹ 50 Lakh ₹ 84,303 ₹ 82,108

Which is a better bank for Loan Against Property – Indian Bank or Allahabad Bank?

Allahabad Bank offers lower Loan Against Property EMI at ₹ 1,642 on a Loan Against Property for 9 Years as compared to Indian Bank with a minimum EMI of ₹ 1,686 for 7 Years. Average customer ratings for Allahabad Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does Indian Bank Loan Against Property compare with Allahabad Bank Loan Against Property?

It is important to do a detailed comparison of Indian Bank and Loan Against Property on all loan terms and conditions to understand their differences and take an informed decision. Keep in mind that each bank’s scheme has its own 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 Indian Bank Loan Against Property is 10.50%, which is lower than the lowest interest rate of Allahabad Bank at 14.15% and hence, Indian Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Allahabad Bank charges a lower processing fees of 0.53% of the loan amount vs Indian Bank with a processing fees of 1.17% of loan amount.
  • Allahabad Bank and Indian Bank offer mortgage loan upto 50% of the value of the property. Hence, the same loan to property value ratio makes them a comparable option to choose from.
  • Allahabad Bank is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. Indian Bank is a Public Sector Bank with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to same rate which make them a comparable option to choose from.
  • has an average customer ratings of , while has an average customer rating of , based on which it is clear that has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • Indian Bank offers special discounted rate Loan Against Property schemes for women, while Allahabad Bank currently doesn’t have such schemes for women. Hence, women borrowers should definitely evaluate Indian Bank.

Which bank offers lower interest rate on Loan Against Property – Indian Bank or Allahabad Bank?

As per the current rates, Indian Bank offers a lower interest rate of 10.50% on Loan Against Property when compared to Allahabad Bank which offers a Loan Against Property at 14.15%.

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Loan Against Property News - Jun 2021
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
  • 2021-06-10 : Edelweiss to become co-lending partners with Central Bank of India
    Edelweiss Retail Finance Ltd. (ERFL) strengthened its co-lending partnership with the Central Bank of India in order to ensure priority sector lending to the MSMEs. MSMEs can now avail collateral free loans of upto 50 lakhs and Loan against property of upto Rs 10 crores.
  • 2021-06-10 : Central Bank of India to become co-lending partners with Edelweiss
    Edelweiss Retail Finance Ltd. (ERFL) strengthened its co-lending partnership with the Central Bank of India in order to ensure priority sector lending to the MSMEs. MSMEs can now avail collateral free loans of upto 50 lakhs and Loan against property of upto Rs 10 crores.
  • 2021-06-09 : Growth of upto 18% expected by IIFL Home Finance on loans
    IIFL Home Finance expects a growth on its loan book which includes Home loans and Loan against property of upto 18%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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