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Compare Personal Loan - Andhra Bank vs Standard Chartered

Bank
Parameters
Interest Rate
Interest Rate
11.55% - 13.05%
11.50% - 18.00%
Processing Fees
Processing Fees
Case to Case
1.00%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 5 Lakh
₹ 1 Lakh to ₹ 50 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,202
₹ 2,199
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 12 months at 2%
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 1 month at 5% charges before 12 months, 4% charges after 12 months
Borrower’s Age
Borrower’s Age
21 to 55 Years
23 to 58 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 25,000
Current Work Experience
Current Work Experience
0 Months
3 Months
Total Work Experience
Total Work Experience
0 Months
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.3/5.0
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Compare EMI of Andhra Bank and Standard Chartered Personal Loan

Loan Amount Andhra Bank Standard Chartered Bank
₹ 1 Lakh ₹ 11,606 ₹ 11,644
₹ 5 Lakh ₹ 58,031 ₹ 58,219
₹ 10 Lakh ₹ 1,16,063 ₹ 1,16,438
₹ 12 Lakh ₹ 1,39,275 ₹ 1,39,726

Which is a better bank for Personal Loan – Standard Chartered Bank or Andhra Bank?

Standard Chartered 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 Standard Chartered Bank is currently at 4.3/5.0 which makes it a good choice for taking a Personal Loan.

How does Standard Chartered Bank Personal Loan compare with Andhra Bank Personal Loan?

It is important to do a detailed comparison of Standard Chartered 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 Standard Chartered Bank Personal Loan is 11.50%, which is lower than the lowest interest rate of Andhra Bank at 11.55%. Hence, Standard Chartered 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 Standard Chartered Bank charges a processing fees of 1.00%.
  • Standard Chartered Bank offers Personal Loan upto an amount of ₹ 50 Lakh while Andhra Bank offer Personal Loan upto an amount of ₹ 5 Lakh. Standard Chartered 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 Standard Chartered Bank gives the option to close the loan after 1 months at 5% charges before 12 months, 4% charges after 12 months. This makes Andhra Bank a better option for Personal Loan.
  • Andhra Bank and Standard Chartered Bank allow part payment on Personal Loan after Zero months at Nil charges. Andhra Bank applies a charge of Nil charges and Standard Chartered Bank charges 2% on Personal Loan.
  • Standard Chartered Bank has an average customer ratings of 4.3, while has an average customer rating of , based on which it is clear that Standard Chartered 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 – Standard Chartered Bank or Andhra Bank?

As per the current rates, Standard Chartered 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 Standard Chartered Bank?

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

How do I check my eligibility for Andhra Bank and Standard Chartered Bank Personal Loan?

You can check your eligibility for Andhra Bank, Standard Chartered 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.

Know all about Personal Loan

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*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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