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Compare Loan Against Property - South Indian Bank vs OBC

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Bank
Parameters
Interest Rate
Interest Rate
10.30% - 11.80%
10.95% - 10.95%
Processing Fees
Processing Fees
Upto 0.50%
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 15 Cr
₹ 10 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 75%
Upto 60%
Maximum Tenure
Maximum Tenure
12 Years
10 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,212
₹ 1,375
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
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of South Indian Bank and OBC Loan Against Property

Loan Amount South Indian Bank OBC
₹ 10 Lakh ₹ 12,125 ₹ 13,747
₹ 15 Lakh ₹ 18,187 ₹ 20,620
₹ 30 Lakh ₹ 36,374 ₹ 41,240
₹ 50 Lakh ₹ 60,624 ₹ 68,734

Which is a better bank for Loan Against Property – South Indian Bank or OBC?

South Indian Bank offers lower Loan Against Property EMI at ₹ 1,212 on a Loan Against Property for 12 Years as compared to OBC with a minimum EMI of ₹ 1,375 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 South Indian Bank Loan Against Property compare with OBC Loan Against Property?

It is important to do a detailed comparison of South Indian Bank 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 South Indian Bank Loan Against Property is 10.30%, which is lower than the lowest interest rate of OBC at 10.95% and hence, South Indian Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, all banks OBC, South Indian Bank and charge the same amount of processing fees as a 0.50% of the loan amount.
  • OBC offers Loan Against Property upto 75% of the property value while South Indian Bank offers mortgage loan upto 60% of property value. Hence, OBC can be a better option if you are looking for a high value amount.
  • OBC 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.
  • with an average customer ratings of is equally comparable to with an average customer rating of , and hence, the customer can expect the same kind of service levels from these banks.
  • One unique feature of South Indian 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 lower interest rate on Loan Against Property – South Indian Bank or OBC?

As per the current rates, South Indian Bank offers a lower interest rate of 10.30% on Loan Against Property when compared to OBC which offers a Loan Against Property at 10.95%.

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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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