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Compare Loan Against Property - United Bank of India vs Piramal Housing Finance

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Bank
Parameters
Interest Rate
Interest Rate
10.75% - 10.75%
11.50% - 11.50%
Processing Fees
Processing Fees
Upto 1.00%
Upto 0.50%
Maximum Loan Amount
Maximum Loan Amount
₹ 5 Cr
₹ 5 Cr
Loan to Property Value Ratio
Loan to Property Value Ratio
Upto 60%
Upto 75%
Maximum Tenure
Maximum Tenure
7 Years
20 Years
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,699
₹ 1,066
Benchmark Rate
Benchmark Rate
RLLR
PLR
Minimum Age
Minimum Age
21 Years
23 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 Piramal Housing Finance Loan Against Property

Loan Amount United Bank of India Piramal Housing Finance
₹ 10 Lakh ₹ 16,991 ₹ 10,664
₹ 15 Lakh ₹ 25,487 ₹ 15,996
₹ 30 Lakh ₹ 50,974 ₹ 31,993
₹ 50 Lakh ₹ 84,956 ₹ 53,321

Which is a better bank for Loan Against Property – United Bank of India or Piramal Housing Finance?

Piramal Housing Finance offers lower Loan Against Property EMI at ₹ 1,066 on a Loan Against Property for 20 Years as compared to United Bank of India with a minimum EMI of ₹ 1,699 for 7 Years. Average customer ratings for Piramal Housing Finance 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 Piramal Housing Finance 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 Piramal Housing Finance at 11.50% and hence, United Bank of India is offering a cheaper loan option.
  • When compared on other Loan Against Property charges such as processing fees, Piramal Housing Finance charges a lower processing fees of 0.50% of the loan amount vs United Bank of India with a processing fees of 1.00% of loan amount.
  • United Bank of India offers Loan Against Property upto 75% of the property value while Piramal Housing Finance offers mortgage loan upto 60% of property value. Hence, United Bank of India can be a better option if you are looking for a high value amount.
  • United Bank of India is a Public Sector Bank with its Loan Against Property rates benchmarked to RLLR. Piramal Housing Finance is a HFC with its home loan rates benchmarked to PLR.
  • 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 Piramal Housing Finance?

As per the current rates, United Bank of India offers a lower interest rate of 10.75% on Loan Against Property when compared to Piramal Housing Finance which offers a Loan Against Property at 11.50%.

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Loan Against Property News - Jun 2021
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