Compare Allahabad Bank vs Bajaj Finserv Personal Loan

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Bank	SBI HDFC Bank ICICI Bank 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 Allahabad 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	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
Interest Rate	Interest Rate 9.05% - 13.65%	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 ₹ 2,078	₹ 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%
Eligible Age	Eligible 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 NA	36 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	4.4/5.0

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Compare Personal Loan EMI of Allahabad Bank and Bajaj Finserv

Loan Amount	Allahabad Bank	Bajaj Finserv
₹ 1 Lakh	₹ 2,078	₹ 2,275
₹ 5 Lakh	₹ 10,391	₹ 11,374
₹ 10 Lakh	₹ 20,783	₹ 22,748
₹ 12 Lakh	₹ 24,939	₹ 27,298

Which is a better bank for Personal Loan – Allahabad Bank or Bajaj Finserv?

Allahabad Bank offers lower Personal Loan EMI at Rs. 2078 for 60 Months compared to Bajaj Finserv with a minimum EMI of Rs. 2275 for 60 Months. In addition, average customer ratings for Allahabad Bank is currently at /5.0, making 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 make a detailed comparison of Allahabad Bank and Bajaj Finserv on all loan terms and conditions to understand their differences and make an informed decision. Keep in mind that each bank’s scheme has its 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 Loan is 9.05%, which is lower than the lowest interest rate of Bajaj Finserv at 12.99%. Hence, Allahabad Bank is offering a cheaper loan option.
Compared to other Personal Loan charges such as processing fees, Allahabad Bank charges a processing fee of 1.06%, Min Rs. 1068, while Bajaj Finserv charges a processing fee of Upto Starting from 1.50%, Up to 3%.
Bajaj Finserv offers Personal Loan upto an amount of ₹ 25 Lakh, while Allahabad Bank offers Loan upto an amount of ₹ 7.50 Lakh. Therefore, 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 the 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 rating of 4.4. In contrast, has an average customer rating of , based on which it is clear that Bajaj Finserv has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Personal Loan – Allahabad Bank or Bajaj Finserv?

As per the current rates, Allahabad Bank offers a lower interest rate of 9.05% on loans compared to Bajaj Finserv, which offers a Personal Loan at 12.99%.

Know more about Allahabad Bank Personal Loan

Know more about Bajaj Finserv Personal Loan

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Personal Loan News - Oct 2021

2021-10-14 : Zavron Finserv Launches Instant Personal Loan Application
Zavron Finserv- a non-banking financial institution- has introduced an instant personal loan application. This App will help customers to take loans instantly within few minutes that too from their mobile phone. A loan for a minimum of Rs 10,000 and a maximum of Rs 2 lakh is available.
2021-10-13 : Early Salary Introduces Dussehra Offers
Early Salary has announced the Dussehra offer on personal loans by 50% off on processing fees. The interest rate charged by the instant mobile application is Rs. 9 per day.
2021-10-12 : Axis Bank Has Launched Open API For Customers
Axis Bank unveils open APIs (Application Programming Interface), these APIs will help retail and corporate customers/ partners to use banking services integrated across partner platforms. This banking portal has retail as well as corporate products like loans, accounts, deposits, payments, trade, collections and bills.
2021-10-11 : Punjab National Bank Introduces 6S Campaign
Punjab National Bank (PNB) has launched the 6S Campaign. The campaign consists of schemes like Swabhiman, Samruddhi, Sampark and Shikhar, Sankalp and Swagat. The objective of the campaign is to spread awareness about the development of financial services and accelerate credit growth, improve penetration of social security schemes and drive digital banking push.
2021-10-07 : Bank of Baroda Decreases Personal Loan Rates
Bank of Baroda has decreased personal loan rates by 25 points to 9.75%. Earlier the personal loan started at 10.00%.

*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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