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Compare Loan Against Property - PNB Housing Finance vs Indian Bank

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Bank
Parameters
Interest Rate
Interest Rate
9.50% - 10.15%
10.50% - 10.65%
Processing Fees
Processing Fees
Upto 1.00%
Upto 1.17%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 2 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 60%
Upto 50%
Maximum Tenure
Maximum Tenure
20 Years
7 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 932
₹ 1,686
Benchmark Rate
Benchmark Rate
PLR
RLLR
Minimum Age
Minimum Age
21 Years
18 Years
Maximum Age
Maximum Age
65 Years
60 Years
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.2/5.0
4.2/5.0
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Compare EMI of PNB Housing Finance and Indian Bank Loan Against Property

Loan Amount PNB Housing Finance Indian Bank
₹ 10 Lakh ₹ 9,321 ₹ 16,861
₹ 15 Lakh ₹ 13,982 ₹ 25,291
₹ 30 Lakh ₹ 27,964 ₹ 50,582
₹ 50 Lakh ₹ 46,607 ₹ 84,303

Which is a better bank for Loan Against Property – PNB Housing Finance or Indian Bank?

PNB Housing Finance offers lower Loan Against Property EMI at ₹ 932 on a Loan Against Property for 20 Years as compared to Indian Bank with a minimum EMI of ₹ 1,686 for 7 Years. Average customer ratings for PNB Housing Finance is currently at 4.2/5.0 which makes it a good choice for taking a Loan Against Property.

How does PNB Housing Finance Loan Against Property compare with Indian Bank Loan Against Property?

It is important to do a detailed comparison of PNB Housing Finance 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 PNB Housing Finance Loan Against Property is 9.50%, which is lower than the lowest interest rate of Indian Bank at 10.50% and hence, PNB Housing Finance is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, PNB Housing Finance charges a lower processing fees of 1.00% of the loan amount vs Indian Bank with a processing fees of 1.17% of loan amount.
  • Indian Bank offers Loan Against Property upto 60% of the property value while PNB Housing Finance offers mortgage loan upto 50% of property value. Hence, Indian Bank can be a better option if you are looking for a high value amount.
  • Indian Bank is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. PNB Housing Finance is a HFC with its home loan rates benchmarked to PLR.
  • Indian Bank with an average customer ratings of 4.2 is equally comparable to PNB Housing Finance with an average customer rating of 4.2, and hence, the customer can expect the same kind of service levels from these banks.
  • Indian Bank offers special discounted rate Loan Against Property schemes for women, while PNB Housing Finance currently doesn’t have such schemes for women. Hence, women borrowers should definitely evaluate Indian Bank.

Which bank offers lower interest rate on Loan Against Property – PNB Housing Finance or Indian Bank?

As per the current rates, PNB Housing Finance offers a lower interest rate of 9.50% on Loan Against Property when compared to Indian Bank which offers a Loan Against Property at 10.50%.

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Loan Against Property News - Jun 2021
  • 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%.
  • 2021-06-09 : IIFL Home Finance signs MOU with Central bank of India
    IIFL Home Finance signed a MOU with Central bank of India for co-lending. The Central bank will be providing 80% of the loan amount of IIFL.
*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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