Compare Personal Loan - Andhra Bank vs IOB

Compare EMI of Andhra Bank and IOB Personal Loan

Which is a better bank for Personal Loan – Indian Overseas Bank or Andhra Bank?

Indian Overseas Bank offers lower Personal Loan EMI at 2199 on a Personal Loan for 60 Months as compared to Andhra Bank with a minimum EMI of 2202 for 60 Months. Average customer ratings for Indian Overseas Bank is currently at /5.0 which makes it a good choice for taking a Personal Loan.

How does Indian Overseas Bank Personal Loan compare with Andhra Bank Personal Loan?

It is important to do a detailed comparison of Indian Overseas 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 Indian Overseas Bank Personal Loan is 11.50%, which is lower than the lowest interest rate of Andhra Bank at 11.55%. Hence, Indian Overseas Bank is offering a cheaper loan option.
• When compared on other Personal Loan charges such as processing fees, Andhra Bank charges a processing fees of Case to Case while Indian Overseas Bank charges a processing fees of Rs. 204 Per Lakh.
• Indian Overseas Bank offers Personal Loan upto an amount of ₹ 15 Lakh while Andhra Bank offer Personal Loan upto an amount of ₹ 5 Lakh. Indian Overseas 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. Andhra Bank gives the option to close the loan after Zero months at Nil prepayment charges and Indian Overseas Bank 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 Indian Overseas Bank does not offer part payment facility on Personal Loan. This makes Andhra Bank a better option for Personal Loan.
• with an average customer ratings 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 lower interest rate on Personal Loan – Indian Overseas Bank or Andhra Bank?

As per the current rates, Indian Overseas Bank offers a lower interest rate of 11.50% on Personal Loan when compared to Andhra Bank which offers a Personal Loan at 11.55%.

How can I transfer my Personal Loan from Andhra Bank to Indian Overseas Bank?

You can transfer your Personal Loan from Andhra Bank to Indian Overseas Bank 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, Indian Overseas Bank offers the cheapest Personal Loan at 11.50%.

How do I check my eligibility for Andhra Bank and Indian Overseas Bank Personal Loan?

You can check your eligibility for Andhra Bank, Indian Overseas Bank 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.

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Compare Andhra Bank Personal Loan With Other Banks

Compare Indian Overseas Bank Personal Loan With Other Banks