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Compare Indian Overseas Bank vs Bank of India Loan Against Property

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Interest Rate
Interest Rate
9.65% - 9.65%
9.75% - 10.75%
Processing Fees
Processing Fees
Upto 0.62%
Min ₹ 890; Max ₹ 8,900
Upto 1.00%
Min ₹ 5,000; Max ₹ 50,000
Maximum Loan Amount
Maximum Loan Amount
₹ 1 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 50%
Upto 40%
Maximum Tenure
Maximum Tenure
7 Years
12 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,642
₹ 1,181
Benchmark Rate
Benchmark Rate
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
70 Years
Overdraft Facility
Overdraft Facility
Y - OD
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Loan Against Property EMI of Indian Overseas Bank and Bank of India

Loan Amount Indian Overseas Bank Bank of India
₹ 10 Lakh ₹ 16,421 ₹ 11,807
₹ 15 Lakh ₹ 24,631 ₹ 17,710
₹ 30 Lakh ₹ 49,263 ₹ 35,420
₹ 50 Lakh ₹ 82,105 ₹ 59,034

Which is a better bank for Loan Against Property – Indian Overseas Bank or Bank of India?

Bank of India offers lower Loan Against Property EMI at ₹ 1,181 on a Loan Against Property for 12 Years as compared to Indian Overseas Bank with a minimum EMI of ₹ 1,642 for 7 Years. Average customer ratings for Bank of India is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does Indian Overseas Bank Loan Against Property compare with Bank of India Loan Against Property?

It is important to do a detailed comparison of Indian Overseas Bank and 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 Indian Overseas Bank Loan Against Property is 9.65%, which is lower than the lowest interest rate of Bank of India at 9.75% and hence, Indian Overseas Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Indian Overseas Bank charges a lower processing fees of 0.62% of the loan amount vs Bank of India with a processing fees of 1.00% of loan amount.
  • Bank of India offers Loan Against Property upto 50% of the property value while Indian Overseas Bank offers mortgage loan upto 40% of property value. Hence, Bank of India can be a better option if you are looking for a high value amount.
  • Bank of India is a with its Loan Against Property rates benchmarked to RLLR. On the other hand, Indian Overseas Bank 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 Bank of India 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 – Indian Overseas Bank or Bank of India?

As per the current rates, Indian Overseas Bank offers a lower interest rate of 9.65% on Loan Against Property when compared to Bank of India which offers a Loan Against Property at 9.75%.

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