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Compare Andhra Bank vs Bank of Maharashtra Personal Loan

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Bank
Interest Rate
Interest Rate
8.90% - 13.00%
9.55% - 12.90%
Processing Fees
Processing Fees
Case to Case
1.00%, Min Rs. 1,000
Loan Amount
Loan Amount
₹ 50,000 to ₹ 5 Lakh
₹ 50,000 to ₹ 20 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 84 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,071
₹ 1,637
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 1 month at Nil prepayment charges
Eligible Age
Eligible Age
18 to 55 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 20,000
Current Work Experience
Current Work Experience
NA
12 Months
Total Work Experience
Total Work Experience
NA
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Personal Loan EMI of Andhra Bank and Bank of Maharashtra

Loan Amount Andhra Bank Bank of Maharashtra
₹ 1 Lakh ₹ 2,071 ₹ 1,637
₹ 5 Lakh ₹ 10,355 ₹ 8,185
₹ 10 Lakh ₹ 20,710 ₹ 16,370
₹ 12 Lakh ₹ 24,852 ₹ 19,644

Which is a better bank for Personal Loan – Andhra Bank or Bank of Maharashtra?

Bank of Maharashtra offers lower Personal Loan EMI at Rs. 1637 for 84 Months compared to Andhra Bank with a minimum EMI of Rs. 2071 for 60 Months. In addition, average customer ratings for Bank of Maharashtra is currently at /5.0, making it a good choice for taking a Personal Loan.

How does Andhra Bank Personal Loan compare with Bank of Maharashtra Personal Loan?

It is important to make a detailed comparison of Andhra Bank and Bank of Maharashtra 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 Andhra Bank Loan is 8.90%, which is lower than the lowest interest rate of Bank of Maharashtra at 9.55%. Hence, Andhra Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Andhra Bank charges a processing fee of Case to Case, while Bank of Maharashtra charges a processing fee of Upto 1.00%, Min Rs. 1,000.
  • Bank of Maharashtra offers Personal Loan upto an amount of ₹ 20 Lakh, while Andhra Bank offers Loan upto an amount of ₹ 5 Lakh. Therefore, Bank of Maharashtra 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. Andhra Bank gives the option to close the loan after Zero months at Nil prepayment charges and Bank of Maharashtra gives the option to close the loan after 1 months at Nil prepayment charges. This makes Andhra Bank a better option for Personal Loan.
  • Andhra Bank allows part payment on Personal Loan after Zero months at Nil charges, while Bank of Maharashtra does not offer a part payment facility. This makes Andhra Bank a better option for instant loan requirements.
  • with an average customer rating of is equally comparable to with an average customer rating of . Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Personal Loan – Andhra Bank or Bank of Maharashtra?

As per the current rates, Andhra Bank offers a lower interest rate of 8.90% on loans compared to Bank of Maharashtra, which offers a Personal Loan at 9.55%.

Know more about Andhra Bank Personal Loan

Know more about Bank of Maharashtra Personal Loan

Compare Andhra Bank Personal Loan With Other Banks

Compare Bank of Maharashtra Personal Loan With Other Banks

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Personal Loan News - Sep 2021
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-09 : Gold Loan Soars High in 12 Months
    In the last 12 months, gold loans and credit cards have seen significant growth. Gold loans outstanding has increased by 77.4% and personal loans have jumped by 11.2% till July 2021.
  • 2021-09-02 : Axis Bank Personal Loan Rates Changed
    The personal loan rates for Axis Bank have changed for new and BT offers. The Bank is now offering personal loans for new & BT cases starting at 10.25% & 10.49%, respectively.
  • 2021-09-02 : HDFC Bank offers Special Personal Loan
    HDFC Bank has launched a personal scheme for new, and BT offers at an attractive rate. The new personal loan rates are stating at 10.25%
  • 2021-09-01 : Mortgage lending has increased GDP by 11%
    National Housing Bank has informed that mortgage lending in India has increased India’s Gross Domestic Product (GDP) by 11%, an economy worth Rs 27 trillion. 65% of the loans are provided by banks and the rest 35% by NBFCs.
*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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