MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹1,000* on Property Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Loan Against Property - South Indian Bank vs SBI

Download Comparison
Bank
Parameters
Interest Rate
Interest Rate
10.30% - 11.80%
8.80% - 9.30%
Processing Fees
Processing Fees
Upto 0.50%
Upto 1.00%
Max ₹ 50,000
Maximum Loan Amount
Maximum Loan Amount
₹ 15 Cr
₹ 7.50 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 75%
Upto 65%
Maximum Tenure
Maximum Tenure
12 Years
15 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,212
₹ 1,002
Benchmark Rate
Benchmark Rate
RLLR
RLLR
Minimum Age
Minimum Age
21 Years
18 Years
Maximum Age
Maximum Age
65 Years
70 Years
Overdraft Facility
Overdraft Facility
Y - Overdraft Against Property
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3.5/5.0
Add Bank

Compare EMI of South Indian Bank and SBI Loan Against Property

Loan Amount South Indian Bank SBI
₹ 10 Lakh ₹ 12,125 ₹ 10,024
₹ 15 Lakh ₹ 18,187 ₹ 15,036
₹ 30 Lakh ₹ 36,374 ₹ 30,072
₹ 50 Lakh ₹ 60,624 ₹ 50,120

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

SBI offers lower Loan Against Property EMI at ₹ 1,002 on a Loan Against Property for 15 Years as compared to South Indian Bank with a minimum EMI of ₹ 1,212 for 12 Years. Average customer ratings for SBI is currently at 3.5/5.0 which makes it a good choice for taking a Loan Against Property.

How does SBI Loan Against Property compare with South Indian Bank Loan Against Property?

It is important to do a detailed comparison of SBI 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 SBI Loan Against Property is 8.80%, which is lower than the lowest interest rate of South Indian Bank at 10.30% and hence, SBI is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, South Indian Bank charges a lower processing fees of 0.50% of the loan amount vs SBI with a processing fees of 1.00% of loan amount.
  • SBI offers Loan Against Property upto 75% of the property value while South Indian Bank offers mortgage loan upto 65% of property value. Hence, SBI can be a better option if you are looking for a high value amount.
  • SBI 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.
  • SBI has an average customer ratings of 3.5, while has an average customer rating of , based on which it is clear that SBI has a high customer service focus, an easy Loan Against Property process and a quick turnaround.
  • 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 – SBI or South Indian Bank?

As per the current rates, SBI offers a lower interest rate of 8.80% on Loan Against Property when compared to South Indian Bank which offers a Loan Against Property at 10.30%.

Popular Loan Against Property Tools

Popular Search for South Indian Bank Loan Against Property

Popular Search for SBI Loan Against Property

Compare South Indian Bank Loan Against Property With Other Banks

Compare SBI Loan Against Property With Other Banks

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
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
Loader
Please wait while your information is being processed...