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Compare Karur Vysya Bank vs Union Bank of India Loan Against Property

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Bank
Interest Rate
Interest Rate
9.25% - 12.50%
10.20% - 10.30%
Processing Fees
Processing Fees
Upto 0.50%
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 10 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
₹ 1,207
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
18 Years
Maximum Age
Maximum Age
65 Years
70 Years
Overdraft Facility
Overdraft Facility
Y - OD
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4/5.0
4/5.0
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Compare Loan Against Property EMI of Karur Vysya Bank and Union Bank of India

Loan Amount Karur Vysya Bank Union Bank of India
₹ 10 Lakh ₹ 13,676 ₹ 12,067
₹ 15 Lakh ₹ 20,514 ₹ 18,100
₹ 30 Lakh ₹ 41,027 ₹ 36,200
₹ 50 Lakh ₹ 68,379 ₹ 60,333

Which is a better bank for Loan Against Property – Karur Vysya Bank or Union Bank of India?

Union Bank of India offers lower Loan Against Property EMI at ₹ 1,207 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 Union Bank of India 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 Union Bank of India Loan Against Property?

It is important to do a detailed comparison of Karur Vysya Bank and Union Bank of India 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 Union Bank of India at 10.20% and hence, Karur Vysya Bank is offering a cheaper loan option.
  • When compared to other Loan Against Property charges such as processing fees Karur Vysya Bank and Union Bank of India charge the lowest processing fees as 0.50% of the loan amount.
  • Karur Vysya Bank offers Loan Against Property upto 50% of the property value while Union Bank of India 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 with its Loan Against Property rates benchmarked to RLLR. On the other hand, Union Bank of India 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 with an average customer ratings of 4 is equally comparable to Union Bank of India with an average customer rating of 4, and hence, the customer can expect the same kind of service levels from these banks.
  • Karur Vysya Bank offers special discounted rate Loan Against Property schemes for women, while Union Bank of India 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 Union Bank of India?

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.25% on Loan Against Property when compared to Union Bank of India which offers a Loan Against Property at 10.20%.

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Loan Against Property News - Oct 2022
  • 2022-09-12 : Indian Overseas Bank raises MCLR rates by up to 0.10%
    Indian Overseas Bank has revised upwards the MCLR rates by 0.10 per cent across tenors. The benchmark 1-year tenor marginal cost of funds based lending rate (MCLR) has been revised to 7.75 per cent against the existing rate of 7.65 per cent. The two and three-year MCLRs have been hiked by a similar margin to 7.80 per cent each.
  • 2022-08-18 : HDFC bank opens its first all women branch in Kerela`s kozhikode.
    HDFC has opened its first all-women branch in Kozhikode. The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers. HDFC Bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity.
  • 2022-08-18 : CCI`s nod to the merger of HDFC Bank, HDFC Ltd.
    The Competition Commission of India (CCI) has approved the proposal of merger of HDFC Bank and HDFC Ltd. Commission`s positive response to the combination involving amalgamation of HDFC Limited, HDFc Bank, HDFC Investments and HDFC Holdings.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
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