Compare Personal Loan - Allahabad Bank vs IDFC First Bank

Download Comparison

Bank	SBI HDFC Bank ICICI Bank Bajaj Finserv 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
Parameters
Interest Rate	Interest Rate 9.05% - 13.65%	10.49% - 10.49%
Processing Fees	Processing Fees 1.06%, Min Rs. 1068	Upto 2.00%
Loan Amount	Loan Amount ₹ 50,000 to ₹ 7.50 Lakh	₹ 1 Lakh to ₹ 40 Lakh
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,078	₹ 2,149
Part Payment Charges	Part Payment Charges Allowed after 0 months at 2.25%	Allowed after 3 months at In case of Smart Personal Loan at Nil Charges
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at 2.25%	Allowed after 12 months at 5% foreclosure charges. Can foreclose after 3 months in case of smart personal loan
Eligible Age	Eligible Age 25 to 58 Years	23 to 60 Years
Minimum Income	Minimum Income ₹ 20,000	₹ 20,000
Current Work Experience	Current Work Experience 24 Months	6 Months
Total Work Experience	Total Work Experience 0 Months	12 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	4.6/5.0

Add Bank

Compare EMI of Allahabad Bank and IDFC First Bank Personal Loan

Loan Amount	Allahabad Bank	IDFC First Bank
₹ 1 Lakh	₹ 2,078	₹ 2,149
₹ 5 Lakh	₹ 10,391	₹ 10,744
₹ 10 Lakh	₹ 20,783	₹ 21,489
₹ 12 Lakh	₹ 24,939	₹ 25,787

Which is a better bank for Personal Loan – Allahabad Bank or IDFC First Bank?

Allahabad Bank offers lower Personal Loan EMI at 2078 on a Personal Loan for 60 Months as compared to IDFC First Bank with a minimum EMI of 2149 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 IDFC First Bank 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 9.05%, which is lower than the lowest interest rate of IDFC First Bank at 10.49%. 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 IDFC First Bank charges a processing fees of Upto 2.00%.
IDFC First Bank offers Personal Loan upto an amount of ₹ 40 Lakh while Allahabad Bank offer Personal Loan upto an amount of ₹ 7.50 Lakh. IDFC First Bank 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 IDFC First Bank gives the option to close the loan after 12 months at 5% foreclosure charges. Can foreclose after 3 months in case of smart personal loan. This makes Allahabad Bank a better option for Personal Loan.
Allahabad Bank and IDFC First Bank allow part payment on Personal Loan after Zero months at 2.25%. Allahabad Bank applies a charge of 2.25% and IDFC First Bank charges Nil charges on Personal Loan.
IDFC First Bank has an average customer ratings of 4.6, while has an average customer rating of , based on which it is clear that IDFC First Bank 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 IDFC First Bank?

As per the current rates, Allahabad Bank offers a lower interest rate of 9.05% on Personal Loan when compared to IDFC First Bank which offers a Personal Loan at 10.49%.

Know all about Personal Loan

Know more about Allahabad Bank Personal Loan

Know more about IDFC First Bank Personal Loan

Compare Allahabad Bank Personal Loan With Other Banks

Compare IDFC First Bank Personal Loan With Other Banks

Notification ×

Home Loan
Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.
Apply Now
Personal Loan
Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .
Check Offers
Gold Loan
Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500
Apply Now
Loan Against Property
Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.
Apply Now
Business Loan
Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.
Apply Now
Fixed Deposit
AAA rated FDs with returns as high as 6.95%.
Invest Now

Personal Loan News - Jul 2021

2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
2021-07-15 : OBC & UBI merged with PNB
After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.

*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

Apply Personal Loan Online @ 10.25% ☺

Please wait while your information is being processed...