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Compare Indian Overseas Bank vs Karur Vysya Bank Loan Against Property

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Interest Rate
Interest Rate
9.75% - 9.75%
9.25% - 12.50%
Processing Fees
Processing Fees
Upto 0.62%
Min ₹ 890; Max ₹ 8,900
Upto 0.50%
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
9 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,647
₹ 1,368
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 - OD
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Loan Against Property EMI of Indian Overseas Bank and Karur Vysya Bank

Loan Amount Indian Overseas Bank Karur Vysya Bank
₹ 10 Lakh ₹ 16,472 ₹ 13,676
₹ 15 Lakh ₹ 24,708 ₹ 20,514
₹ 30 Lakh ₹ 49,417 ₹ 41,027
₹ 50 Lakh ₹ 82,361 ₹ 68,379

Which is a better bank for Loan Against Property – Karur Vysya Bank or Indian Overseas Bank?

Karur Vysya Bank offers lower Loan Against Property EMI at ₹ 1,368 on a Loan Against Property for 9 Years as compared to Indian Overseas Bank with a minimum EMI of ₹ 1,647 for 7 Years. Average customer ratings for Karur Vysya Bank is currently at 4/5.0 which makes it a good choice for taking a Loan Against Property.

How does Karur Vysya Bank Loan Against Property compare with Indian Overseas Bank Loan Against Property?

It is important to do a detailed comparison of Karur Vysya Bank and Indian Overseas Bank 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 Karur Vysya Bank Loan Against Property is 9.25%, which is lower than the lowest interest rate of Indian Overseas Bank at 9.75% and hence, Karur Vysya Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Karur Vysya Bank charges a lower processing fees of 0.50% of the loan amount vs Indian Overseas Bank with a processing fees of 0.62% of loan amount.
  • Indian Overseas Bank offers Loan Against Property upto 50% of the property value while Karur Vysya Bank offers mortgage loan upto 40% of property value. Hence, Indian Overseas Bank can be a better option if you are looking for a high value amount.
  • Indian Overseas Bank is a with its Loan Against Property rates benchmarked to RLLR. On the other hand, Karur Vysya 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.
  • Karur Vysya Bank has an average customer ratings of 4, while has an average customer rating of , based on which it is clear that Karur Vysya Bank has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • Karur Vysya Bank offers special discounted rate Loan Against Property schemes for women, while Indian Overseas Bank currently doesn’t have such schemes for women. Hence, women borrowers should consider Karur Vysya Bank.
  • One unique feature of Karur Vysya 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 – Karur Vysya Bank or Indian Overseas Bank?

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.25% on Loan Against Property when compared to Indian Overseas Bank which offers a Loan Against Property at 9.75%.

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Loan Against Property News - Sep 2021
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-01 : Mortgage lending has increased GDP by 11%
    National Housing Bank has informed that mortgage lending in India has increased India’s Gross Domestic Product (GDP) by 11%, an economy worth Rs 27 trillion. 65% of the loans are provided by banks and the rest 35% by NBFCs.
  • 2021-08-24 : Cholamandalam increases loan against property rates
    Cholamandalam has increased the interest rate on the loan against property. The lender is charging an interest rate of 11%, earlier it was 10%. The processing fee has also been increased to 2% of the loan amount.
  • 2021-08-16 : Bank of Maharashtra emerge as a top performer
    Bank of Maharashtra has emerged as a top performer among public sector lenders in terms of loans and deposits. The bank has recorded 14.46 percent increase in gross advances at Rs 1,10,592 lakh crore in April-June period of 2021-22.
  • 2021-08-13 : HDFC Bank presents Festive Offer
    HDFC Bank is offering various offers on the occasion of the Onam festival in Kerela. It is offering benefits on a car loan, two-wheeler loan, home loan, business loans, gold Loan, Loan against Securities and Loan against the property. Also, HDFC debit cards and credit cardholders will also get cashback and discounts. This offer is valid till September 30, 2021.
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