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Compare Axis Finance vs Andhra Bank Personal Loan

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Bank
Interest Rate
Interest Rate
13.00% - 18.00%
8.90% - 13.00%
Processing Fees
Processing Fees
2%
Case to Case
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
₹ 2,275
₹ 2,071
Part Payment Charges
Part Payment Charges
Allowed after 3 months at Nil Part-Payment Charges
Allowed after 0 months at Nil prepayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 6 months at Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period
Allowed after 0 months at Nil prepayment charges
Eligible Age
Eligible Age
21 to 58 Years
18 to 55 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 20,000
Current Work Experience
Current Work Experience
12 Months
NA
Total Work Experience
Total Work Experience
24 Months
NA
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.4/5.0
4.4/5.0
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Compare Personal Loan EMI of Axis Finance and Andhra Bank

Loan Amount Axis Finance Andhra Bank
₹ 1 Lakh ₹ 2,275 ₹ 2,071
₹ 5 Lakh ₹ 11,377 ₹ 10,355
₹ 10 Lakh ₹ 22,753 ₹ 20,710
₹ 12 Lakh ₹ 27,304 ₹ 24,852

Which is a better bank for Personal Loan – Andhra Bank or Axis Finance?

Andhra Bank offers lower Personal Loan EMI at Rs. 2071 for 60 Months compared to Axis Finance with a minimum EMI of Rs. 2275 for 60 Months. In addition, average customer ratings for Andhra Bank is currently at 4.4/5.0, making it a good choice for taking a Personal Loan.

How does Andhra Bank Personal Loan compare with Axis Finance Personal Loan?

It is important to make a detailed comparison of Andhra Bank and Axis Finance 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 Axis Finance at 13.00%. Hence, Andhra Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Axis Finance charges a processing fee of 2%, while Andhra Bank charges a processing fee of Upto Case to Case.
  • Axis Finance offers Personal Loan upto an amount of ₹ 25 Lakh, while Andhra Bank offers Loan upto an amount of ₹ 5 Lakh. Therefore, Axis Finance 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 Axis Finance gives the option to close the loan after 6 months at Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period. This makes Andhra Bank a better option for Personal Loan.
  • Andhra Bank and Axis Finance allow part payment on Personal Loan after Zero months at Nil charges. Andhra Bank applies a charge of Nil charges and Axis Finance charges Nil charges on Personal Loan.
  • Andhra Bank with an average customer rating of 4.4 is equally comparable to Axis Finance with an average customer rating of 4.4. 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 Axis Finance?

As per the current rates, Andhra Bank offers a lower interest rate of 8.90% on loans compared to Axis Finance, which offers a Personal Loan at 13.00%.

Know more about Axis Finance Personal Loan

Know more about Andhra Bank Personal Loan

Compare Axis Finance Personal Loan With Other Banks

Compare Andhra Bank Personal Loan With Other Banks

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Personal Loan News - Aug 2022
  • 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%.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
*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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