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Compare Personal Loan - Axis Finance vs Bajaj Finance

Interest Rate
Interest Rate
13.00% - 18.00%
12.99% - 15.50%
Processing Fees
Processing Fees
Starting from 1.50%, Up to 3%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 25 Lakh
₹ 1 Lakh 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
₹ 2,275
Part Payment Charges
Part Payment Charges
Allowed after 3 months at Nil Part-Payment Charges
Allowed after 1 month at 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 4%
Borrower’s Age
Borrower’s Age
21 to 58 Years
25 to 58 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 27,000
Current Work Experience
Current Work Experience
12 Months
1 Month
Total Work Experience
Total Work Experience
24 Months
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Axis Finance and Bajaj Finance Personal Loan

Loan Amount Axis Finance Bajaj Finserv
₹ 1 Lakh ₹ 10,646 ₹ 10,651
₹ 5 Lakh ₹ 53,228 ₹ 53,257
₹ 10 Lakh ₹ 1,06,456 ₹ 1,06,514
₹ 12 Lakh ₹ 1,27,747 ₹ 1,27,817

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

Axis Finance and Bajaj Finserv offer Personal Loan at the same rate of interest starting from 13.00%. Lowest EMI of Axis Finance is 2275 for a maximum tenure of 60 Months. Lowest EMI of Bajaj Finserv is Rs. 2275 for a maximum tenure of 60 Months.

How does Bajaj Finserv Personal Loan compare with Axis Finance Personal Loan?

It is important to do a detailed comparison of Bajaj Finserv 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 Bajaj Finserv Personal Loan is 12.99%, which is lower than the lowest interest rate of Axis Finance at 13.00%. Hence, Bajaj Finserv is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, Axis Finance charges a processing fees of 2% while Bajaj Finserv charges a processing fees of Starting from 1.50%, Up to 3%.
  • One feature that makes Personal Loan a better option is foreclosure facility. Bajaj Finserv gives the option to close the loan after 1 months at 4% 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 Bajaj Finserv a better option for Personal Loan.
  • Axis Finance and Bajaj Finserv allow part payment on Personal Loan after 3 months at Nil charges. Axis Finance applies a charge of Nil charges and Bajaj Finserv charges 2% on Personal Loan.
  • Axis Finance has an average customer ratings of 4.4, while Bajaj Finserv has an average customer rating of 4.3, based on which it is clear that Axis Finance has a high customer service focus, an easy Personal Loan process and a quick turnaround.

Which bank offers lower interest rate on Personal Loan – Bajaj Finserv or Axis Finance?

As per the current rates, Bajaj Finserv offers a lower interest rate of 12.99% on Personal Loan when compared to Axis Finance which offers a Personal Loan at 13.00%.

How can I transfer my Personal Loan from Axis Finance to Bajaj Finserv?

You can transfer your Personal Loan from Axis Finance to Bajaj Finserv 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, Bajaj Finserv offers the cheapest Personal Loan at 12.99%.

How do I check my eligibility for Axis Finance and Bajaj Finserv Personal Loan?

You can check your eligibility for Axis Finance, Bajaj Finserv 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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Personal Loan News - Feb 2021
  • 2021-02-23 : SBI launched YONO Merchant app
    SBI Payments launched YONO Merchant App to expand the digitisation of merchant payments in the country. The Bank is aiming to create a Payments Infrastructure Development Fund (PIDF) to encourage acquirers to deploy Point of Sale (PoS) infrastructure in lesser penetrated areas of the country.
  • 2021-02-23 : Tata Capital launched a campaign to introduce Shubharambh loan
    Tata Capital joined hands with Zee Cinema to launch a campaign to introduce the Shubharambh loan. Shubharambh Loans are available across Business, Personal Two-wheeler, Used Car, Loan Against Property and Home Loans. Each product has special features that aims to benefit customers across categories.
  • 2021-02-19 : RBI issued directives for HFCS
    RBI issued slew of directives related to maintenance of liquidity coverage ratio, risk management, asset classification and loan-to-value ratio, among others for HFCs. The directives are aimed at protecting the interest of investors and depositors.
  • 2021-02-19 : Loan growth is back to pre covid levels
    Credit bureau TransUnion Cibil and MSME lender SIDBI reported that the loan growth is again back to pre covid levels. The revival was mainly due to the Emergency Credit Line Guarantee Scheme by public sector banks.
  • 2021-02-18 : Kotak Remit launched to send money abroad directly from phone
    Kotak Mahindra launched its outward forex remittance service, Kotak Remit. The service will allow its users to directly send money abroad from their phones. The feature is live on the Kotak Mobile Banking App.
*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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