Compare Personal Loan - Allahabad Bank vs Bajaj Finance
Bank |
SBI
HDFC Bank
ICICI Bank
IDFC First Bank
Axis Bank
Tata Capital
Fullerton India
IndusInd Bank
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IIFL
HDB Financial
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Allahabad Bank
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PNB
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Yes Bank
Axis Finance
|
SBI
HDFC Bank
ICICI Bank
Bajaj Finserv
IDFC First Bank
Axis Bank
Tata Capital
Fullerton India
IndusInd Bank
Kotak Bank
RBL Bank
IIFL
HDB Financial
Syndicate Bank
Muthoot
Union Bank of India
Canara Bank
Bank of Maharashtra
Andhra Bank
Federal Bank
Karur Vysya Bank
PNB
Indian Overseas Bank
Indian Bank
IDBI Bank
Corporation Bank
Bank of Baroda
Standard Chartered Bank
Yes Bank
Axis Finance
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---|---|---|
Parameters | ||
Interest Rate | Interest Rate 12.15% - 12.65% |
12.99% - 15.50% |
Processing Fees | Processing Fees 1.06%, Min Rs. 1068 |
Starting from 1.50%, Up to 3% |
Loan Amount | Loan Amount ₹ 50,000 to ₹ 7.50 Lakh |
₹ 1 Lakh to ₹ 25 Lakh |
Loan Tenure | Loan Tenure 12 to 60 Months |
12 to 60 Months |
Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 2,232 |
₹ 2,275 |
Part Payment Charges | Part Payment Charges Allowed after 0 months at 2.25% |
Allowed after 1 month at 2% |
Foreclosure Charges | Foreclosure Charges Allowed after 0 months at 2.25% |
Allowed after 1 month at 4% |
Borrower’s Age | Borrower’s Age 25 to 58 Years |
25 to 58 Years |
Minimum Income | Minimum Income ₹ 20,000 |
₹ 27,000 |
Current Work Experience | Current Work Experience 24 Months |
1 Month |
Total Work Experience | Total Work Experience 0 Months |
36 Months |
Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
4.3/5.0 |
Compare EMI of Allahabad Bank and Bajaj Finance Personal Loan
Loan Amount | Allahabad Bank | Bajaj Finserv |
---|---|---|
₹ 1 Lakh | ₹ 11,180 | ₹ 10,651 |
₹ 5 Lakh | ₹ 55,901 | ₹ 53,257 |
₹ 10 Lakh | ₹ 1,11,801 | ₹ 1,06,514 |
₹ 12 Lakh | ₹ 1,34,161 | ₹ 1,27,817 |
Which is a better bank for Personal Loan – Allahabad Bank or Bajaj Finserv?
Allahabad Bank offers lower Personal Loan EMI at 2232 on a Personal Loan for 60 Months as compared to Bajaj Finserv with a minimum EMI of 2275 for 60 Months. Average customer ratings for Allahabad Bank is currently at /5.0 which makes it a good choice for taking a Personal Loan.
How does Allahabad Bank Personal Loan compare with Bajaj Finserv Personal Loan?
It is important to do a detailed comparison of Allahabad Bank and Personal Loan 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 Allahabad Bank Personal Loan is 12.15%, which is lower than the lowest interest rate of Bajaj Finserv at 12.99%. Hence, Allahabad Bank is offering a cheaper loan option.
- When compared on other Personal Loan charges such as processing fees, Allahabad Bank charges a processing fees of 1.06%, Min Rs. 1068 while Bajaj Finserv charges a processing fees of Starting from 1.50%, Up to 3%.
- Bajaj Finserv offers Personal Loan upto an amount of ₹ 25 Lakh while Allahabad Bank offer Personal Loan upto an amount of ₹ 7.50 Lakh. Bajaj Finserv can be a better option if you are looking for a high value amount.
- One feature that makes Personal Loan a better option is foreclosure facility. Allahabad Bank gives the option to close the loan after Zero months at 2.25% and Bajaj Finserv gives the option to close the loan after 1 months at 4%. This makes Allahabad Bank a better option for Personal Loan.
- Allahabad Bank and Bajaj Finserv allow part payment on Personal Loan after Zero months at 2.25%. Allahabad Bank applies a charge of 2.25% and Bajaj Finserv charges 2% on Personal Loan.
- Bajaj Finserv has an average customer ratings of 4.3, while has an average customer rating of , based on which it is clear that Bajaj Finserv has a high customer service focus, an easy Personal Loan process and a quick turnaround.
Which bank offers lower interest rate on Personal Loan – Allahabad Bank or Bajaj Finserv?
As per the current rates, Allahabad Bank offers a lower interest rate of 12.15% on Personal Loan when compared to Bajaj Finserv which offers a Personal Loan at 12.99%.
How can I transfer my Personal Loan from Allahabad Bank to Bajaj Finserv?
You can transfer your Personal Loan from Allahabad Bank to Bajaj Finserv with a Personal Loan balance transfer. For this, you need to follow a specific procedure that involves clearing off dues, getting a NOC, application to a new bank, getting approval, etc. The Personal Loan balance transfer is an excellent way to reduce the loan burden as you can switch to a lower Personal Loan interest rate.
How can I choose the best bank for Personal Loan?
You can choose the best bank for a Personal Loan by making a detailed comparison between top lenders on the basis of interest rates, processing fee or Personal Loan offers. Apart from that, you can visit online marketplaces like MyLoanCare to choose the best Personal Loan offer. Here, you will get the option of choosing the best bank amongst the shortlisted ones based on your loan requirement.
Which type of Personal Loan is the cheapest?
The cheapest Personal Loan is the one that is offered at the lowest Personal Loan interest rates. This is because the lowest Personal Loan interest rates mean the lowest EMI, as the interest charged will be less. Thus, these loans can be attained with the least repayment burden. Currently, Allahabad Bank offers the cheapest Personal Loan at 12.15%.
How do I check my eligibility for Allahabad Bank and Bajaj Finserv Personal Loan?
You can check your eligibility for Allahabad Bank, Bajaj Finserv and Personal Loan by using MyLoanCare Personal Loan eligibility calculator. You have to enter details like required loan amount, occupation, salary, current obligations, work experience etc to check the amount of loan you are eligible for. You can apply loan for the eligible amount to repay the EMI you can comfortably service.
Know all about Personal Loan
- Personal Loan Apply Online
- Personal Loan Interest Rates
- Personal Loan EMI Calculator
- Personal Loan Eligibility Calculator
- Personal Loan Apps
- Personal Loan for Self Employed
- Personal Loan for Government Employees
- Tax Benefit on Personal Loan
- Marriage Loan
- Travel, Vacation Loan
- Instant Personal Loan
- Personal Loan Documents
- Personal Loan Balance Transfer
- Debt Consolidation Loan
- Consumer Durable Loan
- Line of Credit
- Pre-Approved Loan
Know more about Allahabad Bank Personal Loan
Know more about Bajaj Finserv Personal Loan
Compare Allahabad Bank Personal Loan With Other Banks
Compare Bajaj Finserv Personal Loan With Other Banks
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