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Compare Loan Against Property - Jammu And Kashmir Bank vs Allahabad Bank

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Bank
Parameters
Interest Rate
Interest Rate
7.40% - 7.40%
14.15% - 14.15%
Processing Fees
Processing Fees
Upto 0.20%
Upto 0.53%
Min ₹ 2,670; Max ₹ 80,100
Maximum Loan Amount
Maximum Loan Amount
₹ 1 Cr
₹ 2 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 60%
Upto 50%
Maximum Tenure
Maximum Tenure
7 Years
9 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,529
₹ 1,642
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
21 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 Jammu And Kashmir Bank and Allahabad Bank Loan Against Property

Loan Amount Jammu And Kashmir Bank Allahabad Bank
₹ 10 Lakh ₹ 15,289 ₹ 16,422
₹ 15 Lakh ₹ 22,933 ₹ 24,632
₹ 30 Lakh ₹ 45,867 ₹ 49,265
₹ 50 Lakh ₹ 76,445 ₹ 82,108

Which is a better bank for Loan Against Property – Jammu And Kashmir Bank or Allahabad Bank?

Jammu And Kashmir Bank offers lower Loan Against Property EMI at ₹ 1,529 on a Loan Against Property for 7 Years as compared to Allahabad Bank with a minimum EMI of ₹ 1,642 for 9 Years. Average customer ratings for Jammu And Kashmir Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does Jammu And Kashmir Bank Loan Against Property compare with Allahabad Bank Loan Against Property?

It is important to do a detailed comparison of Jammu And Kashmir 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 Jammu And Kashmir Bank Loan Against Property is 7.40%, which is lower than the lowest interest rate of Allahabad Bank at 14.15% and hence, Jammu And Kashmir Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Jammu And Kashmir Bank charges a lower processing fees of 0.20% of the loan amount vs Allahabad Bank with a processing fees of 0.53% of loan amount.
  • Allahabad Bank offers Loan Against Property upto 60% of the property value while Jammu And Kashmir Bank offers mortgage loan upto 50% of property value. Hence, Allahabad Bank can be a better option if you are looking for a high value amount.
  • Allahabad Bank is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. Jammu And Kashmir Bank is a Private 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.

Which bank offers lower interest rate on Loan Against Property – Jammu And Kashmir Bank or Allahabad Bank?

As per the current rates, Jammu And Kashmir Bank offers a lower interest rate of 7.40% 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
  • 2021-06-10 : 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%.
  • 2021-06-09 : IIFL Home Finance signs MOU with Central bank of India
    IIFL Home Finance signed a MOU with Central bank of India for co-lending. The Central bank will be providing 80% of the loan amount of IIFL.
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