Compare Axis Finance vs Axis Bank Personal Loan

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Bank	SBI HDFC Bank ICICI Bank Bajaj Finserv IDFC First Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Muthoot Union Bank of India Canara Bank Bank of Maharashtra Syndicate Bank Andhra Bank Allahabad Bank Federal Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Yes Bank Karur Vysya Bank Cashe Axis Finance	SBI HDFC Bank ICICI Bank Bajaj Finserv IDFC First Bank Axis Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Federal Bank Muthoot Union Bank of India Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Yes Bank Karur Vysya Bank Syndicate Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Cashe
Interest Rate	Interest Rate 13.00% - 18.00%	10.75% - 17.25%
Processing Fees	Processing Fees 2%	Rs.4,999
Loan Amount	Loan Amount ₹ 50,000 to ₹ 25 Lakh	₹ 50,000 to ₹ 25 Lakh
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,275	₹ 2,162
Part Payment Charges	Part Payment Charges Allowed after 3 months at Nil Part-Payment Charges	Allowed after 1 month at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
Foreclosure Charges	Foreclosure Charges Allowed after 6 months at Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period	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%
Eligible Age	Eligible Age 21 to 58 Years	21 to 60 Years
Minimum Income	Minimum Income ₹ 25,000	₹ 25,000
Current Work Experience	Current Work Experience 12 Months	1 Month
Total Work Experience	Total Work Experience 24 Months	12 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.4/5.0	4.5/5.0

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Compare Personal Loan EMI of Axis Finance and Axis Bank

Loan Amount	Axis Finance	Axis Bank
₹ 1 Lakh	₹ 2,275	₹ 2,162
₹ 5 Lakh	₹ 11,377	₹ 10,809
₹ 10 Lakh	₹ 22,753	₹ 21,618
₹ 12 Lakh	₹ 27,304	₹ 25,942

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

Axis Bank offers lower Personal Loan EMI at Rs. 2162 for 60 Months compared to Axis Finance with a minimum EMI of Rs. 2275 for 60 Months. In addition, average customer ratings for Axis Bank is currently at 4.5/5.0, making it a good choice for taking a Personal Loan.

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

It is important to make a detailed comparison of Axis 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 Axis Bank Loan is 10.75%, which is lower than the lowest interest rate of Axis Finance at 13.00%. Hence, Axis 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 Axis Bank charges a processing fee of Upto Rs.4,999.
One feature that makes Personal Loan a better option is the foreclosure facility. Axis Bank 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 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 Axis Bank a better option for Personal Loan.
Axis Bank and Axis Finance allow 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%. Axis Bank applies a charge of 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2% and Axis Finance charges Nil charges on Personal Loan.
Axis Bank has an average customer rating of 4.5. In contrast, Axis Finance has an average customer rating of 4.4, based on which it is clear that Axis Bank has a high customer service focus, an easy process and a quick turnaround.

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

As per the current rates, Axis Bank offers a lower interest rate of 10.75% on loans compared to Axis Finance, which offers a Personal Loan at 13.00%.

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Personal Loan News - Jun 2022

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.
2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
2022-05-12 : Indian Bank Revises Personal Loan Rates
Indian Bank has increased the rates on personal loans, and as a result, the bank offers the lowest rates starting at 8.90% to upto 9.40%.
2022-05-10 : Canara Bank Hikes Personal Loan Interest Rates
The bank has increased the lowest personal loan rates from 12.40% to 12.80%.

*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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