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Compare Loan Against Property - Syndicate Bank vs Indian Overseas Bank

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Bank
Parameters
Interest Rate
Interest Rate
9.95% - 9.95%
9.75% - 9.75%
Processing Fees
Processing Fees
Upto 0.50%
Min ₹ 500;
Upto 0.62%
Min ₹ 890; Max ₹ 8,900
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 1 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 60%
Upto 50%
Maximum Tenure
Maximum Tenure
10 Years
7 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,319
₹ 1,647
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
N
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Syndicate Bank and Indian Overseas Bank Loan Against Property

Loan Amount Syndicate Bank Indian Overseas Bank
₹ 10 Lakh ₹ 13,187 ₹ 16,472
₹ 15 Lakh ₹ 19,781 ₹ 24,708
₹ 30 Lakh ₹ 39,562 ₹ 49,417
₹ 50 Lakh ₹ 65,937 ₹ 82,361

Which is a better bank for Loan Against Property – Indian Overseas Bank or Syndicate Bank?

Syndicate Bank offers lower Loan Against Property EMI at ₹ 1,319 on a Loan Against Property for 10 Years as compared to Indian Overseas Bank with a minimum EMI of ₹ 1,647 for 7 Years. Average customer ratings for Syndicate Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does Indian Overseas Bank Loan Against Property compare with Syndicate Bank Loan Against Property?

It is important to do a detailed comparison of Indian Overseas 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 Indian Overseas Bank Loan Against Property is 9.75%, which is lower than the lowest interest rate of Syndicate Bank at 9.95% and hence, Indian Overseas Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Syndicate Bank charges a lower processing fees of 0.50% of the loan amount vs Indian Overseas Bank with a processing fees of 0.62% of loan amount.
  • Syndicate Bank has a maximum processing fee of ₹ 500 compared to Indian Overseas Bank with higher processing fees of ₹ 8,900. Hence, customers looking for a higher loan amount will get a benefit on processing fees by opting for Syndicate Bank.
  • Indian Overseas Bank offers Loan Against Property upto 60% of the property value while Syndicate Bank offers mortgage loan upto 50% of property value. Hence, Indian Overseas Bank can be a better option if you are looking for a high value amount.
  • Indian Overseas Bank is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. Syndicate Bank is a Public Sector 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.

Which bank offers lower interest rate on Loan Against Property – Indian Overseas Bank or Syndicate Bank?

As per the current rates, Indian Overseas Bank offers a lower interest rate of 9.75% on Loan Against Property when compared to Syndicate Bank which offers a Loan Against Property at 9.95%.

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Loan Against Property News - Jun 2021
  • 2021-06-16 : Ujjivan Small Finance Bank collaborates with MoEngage
    Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
  • 2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
    IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
  • 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.
*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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