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Compare Axis Bank vs Bank of Baroda Personal Loan

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Bank
Interest Rate
Interest Rate
10.75% - 17.25%
9.20% - 16.55%
Processing Fees
Processing Fees
Rs.4,999
2%, Min Rs. 250
Loan Amount
Loan Amount
₹ 50,000 to ₹ 25 Lakh
₹ 50,000 to ₹ 5 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,162
₹ 2,086
Part Payment Charges
Part Payment Charges
Allowed after 1 month at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at For Loan Amt Approved of 10 Lacs and above-- 0% FC charges after 12 EMIs if closure through OWN FUNDS,1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
Allowed after 1 month at Nil
Eligible Age
Eligible Age
21 to 60 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 20,000
Current Work Experience
Current Work Experience
1 Month
12 Months
Total Work Experience
Total Work Experience
12 Months
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
4.5/5.0
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Compare Personal Loan EMI of Axis Bank and Bank of Baroda

Loan Amount Axis Bank Bank of Baroda
₹ 1 Lakh ₹ 2,162 ₹ 2,086
₹ 5 Lakh ₹ 10,809 ₹ 10,428
₹ 10 Lakh ₹ 21,618 ₹ 20,856
₹ 12 Lakh ₹ 25,942 ₹ 25,027

Which is a better bank for Personal Loan – Bank of Baroda or Axis Bank?

Bank of Baroda offers lower Personal Loan EMI at Rs. 2086 for 60 Months compared to Axis Bank with a minimum EMI of Rs. 2162 for 60 Months. In addition, average customer ratings for Bank of Baroda is currently at 4.5/5.0, making it a good choice for taking a Personal Loan.

How does Bank of Baroda Personal Loan compare with Axis Bank Personal Loan?

It is important to make a detailed comparison of Bank of Baroda and Axis Bank 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 Bank of Baroda Loan is 9.20%, which is lower than the lowest interest rate of Axis Bank at 10.75%. Hence, Bank of Baroda is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Axis Bank charges a processing fee of Rs.4,999, while Bank of Baroda charges a processing fee of Upto 2%, Min Rs. 250.
  • Axis Bank offers Personal Loan upto an amount of ₹ 25 Lakh, while Bank of Baroda offers Loan upto an amount of ₹ 5 Lakh. Therefore, Axis 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 the foreclosure facility. Axis Bank and Bank of Baroda gives the option to close the loan after 1 months at For Loan Amt Approved of 10 Lacs and above-- 0% FC charges after 12 EMIs if closure through OWN FUNDS,1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2% and Nil. This makes Axis Bank a better option for Personal Loan.
  • Axis Bank allows part payment on Personal Loan after 1 months at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%, while Bank of Baroda does not offer a part payment facility. This makes Axis Bank a better option for instant loan requirements.
  • Axis Bank with an average customer rating of 4.5 is equally comparable to Bank of Baroda with an average customer rating of 4.5. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Personal Loan – Bank of Baroda or Axis Bank?

As per the current rates, Bank of Baroda offers a lower interest rate of 9.20% on loans compared to Axis Bank, which offers a Personal Loan at 10.75%.

Know more about Axis Bank Personal Loan

Know more about Bank of Baroda Personal Loan

Compare Axis Bank Personal Loan With Other Banks

Compare Bank of Baroda Personal Loan With Other Banks

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Personal Loan News - Aug 2022
  • 2022-08-18 : HDFC bank opens its first all women branch in Kerela`s kozhikode.
    HDFC has opened its first all-women branch in Kozhikode. The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers. HDFC Bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity.
  • 2022-08-09 : HDFC hikes MCRL by upto 10 bps on all loan tenures.
    With the effect of the 50bps hike by RBI in key policy rates, private sector lender HDFC increased its marginal cost of funds-based lending rates on loans across all tenures by upto 10 basis points. The one-year MCLR will now be 8.10% compared to 8.00% previously.
  • 2022-08-06 : SBI to offer personal loans of upto INR 35 lakhs via YONO.
    With the help of Real-Time Xpress Credit (RTXC), SBI will now offer personal loans of upto INR 35 lakhs on YONO app. Customers can now apply for a personal loan on YONO app without having to fill out any documentation.
  • 2022-07-22 : SBI hikes lending rates, loan EMIs to rise.
    Increase in SBI’s Marginal Cost Lending Rates on loans by 10 basis points. The new lending rates will come into effect from 15th July 2022. For one year tenure, MCLR increased to 7.5% from the current 7.4%, and retail loans for cars, houses, or personal loans tend to go higher, affecting monthly loan installments.
  • 2022-05-13 : Punjab National Bank Increases Personal Loan Rates
    The bank has increased the rates by 40 basis points, and after the revision, the bank offers personal loans starting from 8.85% to 14.85%.
*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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