Compare Loan Against Property - Karnataka Bank vs Indian Bank

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Bank	SBI HDFC ICICI Bank Axis Bank Citibank PNB Housing Finance LIC Housing Finance Kotak Bank Yes Bank Bajaj Home Finance IDFC First Bank RBL Bank Syndicate Bank IDBI Bank United Bank of India Allahabad Bank Andhra Bank Bank of India Canara Bank Central Bank of India Punjab and Sind Bank UCO Bank Union Bank of India Federal Bank DBS Bank India Shelters Piramal Housing Finance Cholamandalam IndusInd Bank Lakshmi Vilas Bank Jammu And Kashmir Bank Edelweiss South Indian Bank Karnataka Bank Dhan Laxmi Bank DCB Bank Indiabulls HDFC Bank Karur Vysya Bank PNB OBC Indian Overseas Bank Corporation Bank HSBC Bank Standard Chartered Bank	SBI HDFC ICICI Bank Axis Bank Citibank PNB Housing Finance LIC Housing Finance Kotak Bank Yes Bank Bajaj Home Finance IDFC First Bank RBL Bank Syndicate Bank IDBI Bank United Bank of India Allahabad Bank Andhra Bank Bank of India Canara Bank Central Bank of India Punjab and Sind Bank UCO Bank Union Bank of India Federal Bank DBS Bank India Shelters Piramal Housing Finance Cholamandalam IndusInd Bank Lakshmi Vilas Bank Jammu And Kashmir Bank Edelweiss South Indian Bank Dhan Laxmi Bank DCB Bank Indiabulls HDFC Bank Karur Vysya Bank PNB OBC Indian Overseas Bank Indian Bank Corporation Bank HSBC Bank Standard Chartered Bank
Parameters
Interest Rate	Interest Rate 7.50% - 8.85%	10.50% - 10.65%
Processing Fees	Processing Fees NIL	Upto 1.17%
Maximum Loan Amount	Maximum Loan Amount ₹ 1 Cr	₹ 2 Cr
Loan to Property Value Ratio	Loan to Property Value Ratio Upto 50%	Upto 50%
Maximum Tenure	Maximum Tenure 15 Years	7 Years
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 927	₹ 1,686
Benchmark Rate	Benchmark Rate RLLR	RLLR
Minimum Age	Minimum Age 21 Years	18 Years
Maximum Age	Maximum Age 60 Years	60 Years
Overdraft Facility	Overdraft Facility N	N
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)

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Compare EMI of Karnataka Bank and Indian Bank Loan Against Property

Loan Amount	Karnataka Bank	Indian Bank
₹ 10 Lakh	₹ 9,270	₹ 16,861
₹ 15 Lakh	₹ 13,905	₹ 25,291
₹ 30 Lakh	₹ 27,810	₹ 50,582
₹ 50 Lakh	₹ 46,351	₹ 84,303

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

Karnataka Bank offers lower Loan Against Property EMI at ₹ 927 on a Loan Against Property for 15 Years as compared to Indian Bank with a minimum EMI of ₹ 1,686 for 7 Years. Average customer ratings for Karnataka Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

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

It is important to do a detailed comparison of Karnataka 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 Karnataka Bank Loan Against Property is 7.50%, which is lower than the lowest interest rate of Indian Bank at 10.50% and hence, Karnataka Bank is offering a cheaper loan option.
When compared on other Loan Against Property charges such as processing fees, Karnataka Bank charges a lower processing fees of Nil vs Indian Bank with a processing fees of 1.17% of loan amount.
Indian Bank and Karnataka 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.
Indian Bank is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. Karnataka 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.
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.
Indian Bank offers special discounted rate Loan Against Property schemes for women, while Karnataka 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 – Karnataka Bank or Indian Bank?

As per the current rates, Karnataka Bank offers a lower interest rate of 7.50% on Loan Against Property when compared to Indian Bank which offers a Loan Against Property at 10.50%.

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Loan Against Property News - Jun 2021

2021-06-23 : Capital India Home Loan plans to double asset book to Rs 250 crore this fiscal
Capital India Home Loan aims to double its asset book to over Rs 250 crore by the end of the current fiscal year. The housing finance company that deals in Home Loan, Commercial Property Loan, Loan Against Property, Business Loan, Top-up Loan, Personal Loan, and Consumer Loan had a loan book of about Rs 135 crore in the financial year ended March 31, 2021. The loan book is expected to touch Rs 250 crore by March 2022.
2021-06-16 : Ujjivan Small Finance Bank collaborates with MoEngage
Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
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.

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