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Compare Loan Against Property - UCO Bank vs Kotak Bank

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Bank
Parameters
Interest Rate
Interest Rate
9.20% - 10.20%
9.60% - 10.35%
Processing Fees
Processing Fees
Upto 1.00%
Upto 1.00%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 3 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 50%
Upto 55%
Maximum Tenure
Maximum Tenure
12 Years
12 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,149
₹ 1,172
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)
2.5/5.0
3.1/5.0
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Compare EMI of UCO Bank and Kotak Bank Loan Against Property

Loan Amount UCO Bank Kotak Bank
₹ 10 Lakh ₹ 11,493 ₹ 11,721
₹ 15 Lakh ₹ 17,240 ₹ 17,581
₹ 30 Lakh ₹ 34,480 ₹ 35,163
₹ 50 Lakh ₹ 57,466 ₹ 58,604

Which is a better bank for Loan Against Property – UCO Bank or Kotak Bank?

UCO Bank offers lower Loan Against Property EMI at ₹ 1,149 on a Loan Against Property for 12 Years as compared to Kotak Bank with a minimum EMI of ₹ 1,172 for 12 Years. Average customer ratings for UCO Bank is currently at 2.5/5.0 which makes it a good choice for taking a Loan Against Property.

How does UCO Bank Loan Against Property compare with Kotak Bank Loan Against Property?

It is important to do a detailed comparison of UCO 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 UCO Bank Loan Against Property is 9.20%, which is lower than the lowest interest rate of Kotak Bank at 9.60% and hence, UCO Bank is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, all banks Kotak Bank, UCO Bank and charge the same amount of processing fees as a 1.00% of the loan amount.
  • Kotak Bank offers Loan Against Property upto 55% of the property value while UCO Bank offers mortgage loan upto 50% of property value. Hence, Kotak Bank can be a better option if you are looking for a high value amount.
  • Kotak Bank is a Private Bank with its Loan Against Property rates benchmarked to RLLR. UCO 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.
  • Kotak Bank has an average customer ratings of 3.1, while UCO Bank has an average customer rating of 2.5, based on which it is clear that Kotak Bank 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 – UCO Bank or Kotak Bank?

As per the current rates, UCO Bank offers a lower interest rate of 9.20% on Loan Against Property when compared to Kotak Bank which offers a Loan Against Property at 9.60%.

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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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