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Compare Loan Against Property - PNB Housing Finance vs LIC Housing Finance

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Bank
Parameters
Interest Rate
Interest Rate
9.50% - 10.15%
8.50% - 11.00%
Processing Fees
Processing Fees
Upto 1.00%
Upto 1.00%
Max ₹ 25,000
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 60%
Upto 70%
Maximum Tenure
Maximum Tenure
20 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 932
₹ 985
Benchmark Rate
Benchmark Rate
PLR
PLR
Minimum Age
Minimum Age
21 Years
21 Years
Maximum Age
Maximum Age
65 Years
65 Years
Overdraft Facility
Overdraft Facility
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.2/5.0
5/5.0
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Compare EMI of PNB Housing Finance and LIC Housing Finance Loan Against Property

Loan Amount PNB Housing Finance LIC Housing Finance
₹ 10 Lakh ₹ 9,321 ₹ 9,847
₹ 15 Lakh ₹ 13,982 ₹ 14,771
₹ 30 Lakh ₹ 27,964 ₹ 29,542
₹ 50 Lakh ₹ 46,607 ₹ 49,237

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

PNB Housing Finance offers lower Loan Against Property EMI at ₹ 932 on a Loan Against Property for 20 Years as compared to LIC Housing Finance with a minimum EMI of ₹ 985 for 15 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 LIC Housing Finance Loan Against Property compare with PNB Housing Finance Loan Against Property?

It is important to do a detailed comparison of LIC 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 LIC Housing Finance Loan Against Property is 8.50%, which is lower than the lowest interest rate of PNB Housing Finance 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, all banks LIC Housing Finance, PNB Housing Finance and charge the same amount of processing fees as a 1.00% of the loan amount.
  • LIC Housing Finance offers Loan Against Property upto 70% of the property value while PNB Housing Finance offers mortgage loan upto 60% of property value. Hence, LIC Housing Finance can be a better option if you are looking for a high value amount.
  • LIC Housing Finance is a HFC with its Loan Against Property rates benchmarked to PLR. PNB Housing Finance is a HFC with its home loan rates benchmarked to PLR. Hence, both banks are benchmarked to same rate which make them a comparable option to choose from.
  • LIC Housing Finance has an average customer ratings of 5, while PNB Housing Finance has an average customer rating of 4.2, 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.

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

As per the current rates, LIC Housing Finance offers a lower interest rate of 8.50% on Loan Against Property when compared to PNB Housing Finance which offers a Loan Against Property at 9.50%.

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Loan Against Property News - Jun 2021
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 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%.
*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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