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Compare Loan Against Property - Karur Vysya Bank vs ICICI Bank

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Bank
Parameters
Interest Rate
Interest Rate
9.25% - 12.50%
8.35% - 9.50%
Processing Fees
Processing Fees
Upto 0.50%
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 7 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 40%
Upto 60%
Maximum Tenure
Maximum Tenure
9 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,368
₹ 976
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
Overdraft Facility
Overdraft Facility
Y - OD
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4/5.0
3.7/5.0
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Compare EMI of Karur Vysya Bank and ICICI Bank Loan Against Property

Loan Amount Karur Vysya Bank ICICI Bank
₹ 10 Lakh ₹ 13,676 ₹ 9,760
₹ 15 Lakh ₹ 20,514 ₹ 14,640
₹ 30 Lakh ₹ 41,027 ₹ 29,279
₹ 50 Lakh ₹ 68,379 ₹ 48,798

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

ICICI Bank offers lower Loan Against Property EMI at ₹ 976 on a Loan Against Property for 15 Years as compared to Karur Vysya Bank with a minimum EMI of ₹ 1,368 for 9 Years. Average customer ratings for ICICI Bank is currently at 3.7/5.0 which makes it a good choice for taking a Loan Against Property.

How does ICICI Bank Loan Against Property compare with Karur Vysya Bank Loan Against Property?

It is important to do a detailed comparison of ICICI 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 ICICI Bank Loan Against Property is 8.35%, which is lower than the lowest interest rate of Karur Vysya Bank at 9.25% and hence, ICICI Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, all banks ICICI Bank, Karur Vysya Bank and charge the same amount of processing fees as a 0.50% of the loan amount.
  • ICICI Bank offers Loan Against Property upto 60% of the property value while Karur Vysya Bank offers mortgage loan upto 40% of property value. Hence, ICICI Bank can be a better option if you are looking for a high value amount.
  • ICICI Bank is a Private Bank with its Loan Against Property rates benchmarked to RLLR. Karur Vysya 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.
  • Karur Vysya Bank has an average customer ratings of 4, while ICICI Bank has an average customer rating of 3.7, 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 ICICI Bank currently doesn’t have such schemes for women. Hence, women borrowers should definitely evaluate 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 lower interest rate on Loan Against Property – ICICI Bank or Karur Vysya Bank?

As per the current rates, ICICI Bank offers a lower interest rate of 8.35% on Loan Against Property when compared to Karur Vysya Bank which offers a Loan Against Property at 9.25%.

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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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