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Compare Loan Against Property - Syndicate Bank vs PNB Housing Finance

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Bank
Parameters
Interest Rate
Interest Rate
11.50% - 11.50%
9.50% - 10.15%
Processing Fees
Processing Fees
Upto 0.50%
Min ₹ 500;
Upto 1.00%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 60%
Upto 60%
Maximum Tenure
Maximum Tenure
10 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,406
₹ 932
Benchmark Rate
Benchmark Rate
RLLR
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
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Compare EMI of Syndicate Bank and PNB Housing Finance Loan Against Property

Loan Amount Syndicate Bank PNB Housing Finance
₹ 10 Lakh ₹ 14,060 ₹ 9,321
₹ 15 Lakh ₹ 21,089 ₹ 13,982
₹ 30 Lakh ₹ 42,179 ₹ 27,964
₹ 50 Lakh ₹ 70,298 ₹ 46,607

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

PNB Housing Finance offers lower Loan Against Property EMI at ₹ 932 on a Loan Against Property for 20 Years as compared to Syndicate Bank with a minimum EMI of ₹ 1,406 for 10 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 PNB Housing Finance Loan Against Property compare with Syndicate Bank Loan Against Property?

It is important to do a detailed comparison of PNB 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 PNB Housing Finance Loan Against Property is 9.50%, which is lower than the lowest interest rate of Syndicate Bank at 11.50% and hence, PNB Housing Finance 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 PNB Housing Finance with a processing fees of 1.00% of loan amount.
  • PNB Housing Finance and Syndicate Bank offer mortgage loan upto 60% of the value of the property. Hence, the same loan to property value ratio makes them a comparable option to choose from.
  • Syndicate Bank is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. PNB Housing Finance is a HFC with its home loan rates benchmarked to PLR.
  • PNB Housing Finance has an average customer ratings of 4.2, while has an average customer rating of , based on which it is clear that PNB 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 – PNB Housing Finance or Syndicate Bank?

As per the current rates, PNB Housing Finance offers a lower interest rate of 9.50% on Loan Against Property when compared to Syndicate Bank which offers a Loan Against Property at 11.50%.

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Loan Against Property News - Jun 2021
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    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.
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    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.
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    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.
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    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.
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*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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