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Compare Kotak Bank vs LIC Housing Finance Loan Against Property

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Interest Rate
Interest Rate
9.50% - 11.70%
8.75% - 10.50%
Processing Fees
Processing Fees
Upto 1.00%
Upto 0.50%
Max ₹ 25,000
Maximum Loan Amount
Maximum Loan Amount
₹ 3 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 55%
Upto 70%
Maximum Tenure
Maximum Tenure
12 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,166
₹ 999
Benchmark Rate
Benchmark Rate
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
Overdraft Facility
Overdraft Facility
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Loan Against Property EMI of Kotak Bank and LIC Housing Finance

Loan Amount Kotak Bank LIC Housing Finance
₹ 10 Lakh ₹ 11,664 ₹ 9,994
₹ 15 Lakh ₹ 17,496 ₹ 14,992
₹ 30 Lakh ₹ 34,991 ₹ 29,983
₹ 50 Lakh ₹ 58,319 ₹ 49,972

Which is a better bank for Loan Against Property – LIC Housing Finance or Kotak Bank?

LIC Housing Finance offers lower Loan Against Property EMI at ₹ 999 on a Loan Against Property for 15 Years as compared to Kotak Bank with a minimum EMI of ₹ 1,166 for 12 Years. Average customer ratings for LIC Housing Finance is currently at 5/5.0 which makes it a good choice for taking a Loan Against Property.

How does LIC Housing Finance Loan Against Property compare with Kotak Bank Loan Against Property?

It is important to do a detailed comparison of LIC Housing Finance 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 LIC Housing Finance Loan Against Property is 8.75%, which is lower than the lowest interest rate of Kotak Bank at 9.50% and hence, LIC Housing Finance is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, LIC Housing Finance 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.
  • Kotak Bank offers Loan Against Property upto 70% of the property value while LIC Housing Finance offers mortgage loan upto 55% of property value. Hence, Kotak Bank can be a better option if you are looking for a high value amount.
  • Kotak Bank is a with its Loan Against Property rates benchmarked to RLLR. LIC Housing Finance is a with its home loan rates benchmarked to PLR.
  • LIC Housing Finance has an average customer ratings of 5, while Kotak Bank has an average customer rating of 3.1, based on which it is clear that LIC Housing Finance has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • Kotak Bank offers special discounted rate Loan Against Property schemes for women, while LIC Housing Finance currently doesn’t have such schemes for women. Hence, women borrowers should consider Kotak Bank.

Which bank offers a lower interest rate on Loan Against Property – LIC Housing Finance or Kotak Bank?

As per the current rates, LIC Housing Finance offers a lower interest rate of 8.75% on Loan Against Property when compared to Kotak Bank which offers a Loan Against Property at 9.50%.

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Loan Against Property News - Dec 2022
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    The bank has registered a net profit of ₹411.63 crores in the Q2 of 2022-23. In the corresponding quarter, it saw ₹125.61 crores, thus registering a growth of 227.70 percent.
  • 2022-10-18 : SBI Credit Card Holders ALERT! State Bank hikes charges on EMI transactions, Rent Payments
    In a move that may further make credit card usage costlier, the State Bank of India has revised certain charges for its credit card users. The new charges will come into effect from November 15. The processing fee on merchant EMI transactions has been revised to Rs 199 + applicable taxes from earlier Rs 99 + applicable taxes. Processing fee on rent payment transactions will be Rs 99 + applicable taxes," said the bank.
  • 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.
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