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Compare Kotak Bank vs Karur Vysya Bank Loan Against Property

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Bank
Interest Rate
Interest Rate
9.50% - 11.70%
9.25% - 12.50%
Processing Fees
Processing Fees
Upto 1.00%
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 3 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 55%
Upto 40%
Maximum Tenure
Maximum Tenure
12 Years
9 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,166
₹ 1,368
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
N
Y - OD
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.1/5.0
4/5.0
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Compare Loan Against Property EMI of Kotak Bank and Karur Vysya Bank

Loan Amount Kotak Bank Karur Vysya Bank
₹ 10 Lakh ₹ 11,664 ₹ 13,676
₹ 15 Lakh ₹ 17,496 ₹ 20,514
₹ 30 Lakh ₹ 34,991 ₹ 41,027
₹ 50 Lakh ₹ 58,319 ₹ 68,379

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

Kotak Bank offers lower Loan Against Property EMI at ₹ 1,166 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 Kotak Bank is currently at 3.1/5.0 which makes it a good choice for taking a Loan Against Property.

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

It is important to do a detailed comparison of Karur Vysya Bank and Kotak Bank 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 Kotak Bank at 9.50% 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 Kotak Bank with a processing fees of 1.00% of loan amount.
  • Karur Vysya Bank offers Loan Against Property upto 55% of the property value while Kotak 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 with its Loan Against Property rates benchmarked to RLLR. On the other hand, Kotak Bank 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 has an average customer ratings of 4, while Kotak Bank has an average customer rating of 3.1, 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.
  • All these banks offer discounted schemes for women and hence, this factor will not be important in making the decision to borrow from Karur Vysya Bank or Kotak 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 Kotak Bank?

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.25% on Loan Against Property when compared to Kotak Bank which offers a Loan Against Property at 9.50%.

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