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Compare Loan Against Property - Karur Vysya Bank vs UCO Bank

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Bank
Parameters
Interest Rate
Interest Rate
9.25% - 12.50%
9.45% - 10.45%
Processing Fees
Processing Fees
Upto 0.50%
Upto 1.00%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 40%
Upto 50%
Maximum Tenure
Maximum Tenure
9 Years
12 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,368
₹ 1,164
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
2.5/5.0
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Compare EMI of Karur Vysya Bank and UCO Bank Loan Against Property

Loan Amount Karur Vysya Bank UCO Bank
₹ 10 Lakh ₹ 13,676 ₹ 11,635
₹ 15 Lakh ₹ 20,514 ₹ 17,453
₹ 30 Lakh ₹ 41,027 ₹ 34,906
₹ 50 Lakh ₹ 68,379 ₹ 58,176

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

UCO Bank offers lower Loan Against Property EMI at ₹ 1,164 on a Loan Against Property for 12 Years as compared to Karur Vysya Bank with a minimum EMI of ₹ 1,368 for 9 Years. Average customer ratings for UCO Bank is currently at 2.5/5.0 which makes it a good choice for taking a Loan Against Property.

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

It is important to do a detailed comparison of Karur Vysya 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 Karur Vysya Bank Loan Against Property is 9.25%, which is lower than the lowest interest rate of UCO Bank at 9.45% 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 UCO Bank with a processing fees of 1.00% of loan amount.
  • Karur Vysya Bank offers Loan Against Property upto 50% of the property value while UCO Bank offers mortgage loan upto 40% of property value. Hence, Karur Vysya Bank can be a better option if you are looking for a high value amount.
  • Karur Vysya Bank is a Private Bank with its Loan Against Property rates benchmarked to RLLR. UCO Bank is a Public Sector 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 UCO Bank has an average customer rating of 2.5, 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 UCO 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 – Karur Vysya Bank or UCO Bank?

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.25% on Loan Against Property when compared to UCO Bank which offers a Loan Against Property at 9.45%.

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Loan Against Property News - Aug 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
    Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
*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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