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Compare Loan Against Property - United Bank of India vs Lakshmi Vilas Bank

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Bank
Parameters
Interest Rate
Interest Rate
10.75% - 10.75%
11.00% - 11.00%
Processing Fees
Processing Fees
Upto 1.00%
Upto 1.20%
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
7 Years
10 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,699
₹ 1,378
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 - OD
N
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of United Bank of India and Lakshmi Vilas Bank Loan Against Property

Loan Amount United Bank of India Lakshmi Vilas Bank
₹ 10 Lakh ₹ 16,991 ₹ 13,775
₹ 15 Lakh ₹ 25,487 ₹ 20,662
₹ 30 Lakh ₹ 50,974 ₹ 41,325
₹ 50 Lakh ₹ 84,956 ₹ 68,875

Which is a better bank for Loan Against Property – United Bank of India or Lakshmi Vilas Bank?

Lakshmi Vilas Bank offers lower Loan Against Property EMI at ₹ 1,378 on a Loan Against Property for 10 Years as compared to United Bank of India with a minimum EMI of ₹ 1,699 for 7 Years. Average customer ratings for Lakshmi Vilas Bank is currently at /5.0 which makes it a good choice for taking a Loan Against Property.

How does United Bank of India Loan Against Property compare with Lakshmi Vilas Bank Loan Against Property?

It is important to do a detailed comparison of United Bank of India 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 United Bank of India Loan Against Property is 10.75%, which is lower than the lowest interest rate of Lakshmi Vilas Bank at 11.00% and hence, United Bank of India is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, United Bank of India charges a lower processing fees of 1.00% of the loan amount vs Lakshmi Vilas Bank with a processing fees of 1.20% of loan amount.
  • Lakshmi Vilas Bank and United Bank of India 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.
  • Lakshmi Vilas Bank is a Private Bank with its Loan Against Property rates benchmarked to RLLR. United Bank of India 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.
  • 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 United Bank of India 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 – United Bank of India or Lakshmi Vilas Bank?

As per the current rates, United Bank of India offers a lower interest rate of 10.75% on Loan Against Property when compared to Lakshmi Vilas Bank which offers a Loan Against Property at 11.00%.

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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.
  • 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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