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Compare Loan Against Property - South Indian Bank vs Central Bank of India

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Bank
Parameters
Interest Rate
Interest Rate
10.30% - 11.80%
9.90% - 9.90%
Processing Fees
Processing Fees
Upto 0.50%
Upto 0.50%
Max ₹ 20,000
Maximum Loan Amount
Maximum Loan Amount
₹ 15 Cr
₹ 10 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 75%
Upto 50%
Maximum Tenure
Maximum Tenure
12 Years
10 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,212
₹ 1,316
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
Y - Overdraft Against Property
Y - OD
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of South Indian Bank and Central Bank of India Loan Against Property

Loan Amount South Indian Bank Central Bank of India
₹ 10 Lakh ₹ 12,125 ₹ 13,160
₹ 15 Lakh ₹ 18,187 ₹ 19,740
₹ 30 Lakh ₹ 36,374 ₹ 39,479
₹ 50 Lakh ₹ 60,624 ₹ 65,799

Which is a better bank for Loan Against Property – Central Bank of India or South Indian Bank?

South Indian Bank offers lower Loan Against Property EMI at ₹ 1,212 on a Loan Against Property for 12 Years as compared to Central Bank of India with a minimum EMI of ₹ 1,316 for 10 Years. Average customer ratings for South Indian Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does Central Bank of India Loan Against Property compare with South Indian Bank Loan Against Property?

It is important to do a detailed comparison of Central Bank of India 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 Central Bank of India Loan Against Property is 9.90%, which is lower than the lowest interest rate of South Indian Bank at 10.30% and hence, Central Bank of India is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, all banks Central Bank of India, South Indian Bank and charge the same amount of processing fees as a 0.50% of the loan amount.
  • Central Bank of India offers Loan Against Property upto 75% of the property value while South Indian Bank offers mortgage loan upto 50% of property value. Hence, Central Bank of India can be a better option if you are looking for a high value amount.
  • Central Bank of India is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. South Indian Bank is a Private Bank with its home loan rates benchmarked to RLLR. Hence, both banks are benchmarked to same rate which make them a comparable option to choose from.
  • has an average customer ratings of , while has an average customer rating of , based on which it is clear that has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • One unique feature overdraft facility which is nowadays a popular facility demanded by high salaried and business customers is offered by the the banks, Central Bank of India and South Indian Bank.

Which bank offers lower interest rate on Loan Against Property – Central Bank of India or South Indian Bank?

As per the current rates, Central Bank of India offers a lower interest rate of 9.90% on Loan Against Property when compared to South Indian Bank which offers a Loan Against Property at 10.30%.

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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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