Compare Personal Loan - Axis Finance vs Indian Bank
Bank |
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
Syndicate Bank
Muthoot
Union Bank of India
Canara Bank
Bank of Maharashtra
Andhra Bank
Allahabad Bank
Federal Bank
PNB
Indian Overseas Bank
IDBI Bank
Corporation Bank
Bank of Baroda
Standard Chartered Bank
Yes Bank
Karur Vysya Bank
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
Andhra Bank
Karur Vysya Bank
Muthoot
Yes Bank
Standard Chartered Bank
Union Bank of India
Canara Bank
Bank of Maharashtra
Corporation Bank
Allahabad Bank
Federal Bank
Syndicate Bank
Bank of Baroda
PNB
Indian Overseas Bank
Indian Bank
IDBI Bank
|
---|---|---|
Parameters | ||
Interest Rate | Interest Rate 13.00% - 18.00% |
11.05% - 0.00% |
Processing Fees | Processing Fees 2% |
0.5%, Min Rs. 508 |
Loan Amount | Loan Amount ₹ 50,000 to ₹ 25 Lakh |
₹ 50,000 to ₹ 5 Lakh |
Loan Tenure | Loan Tenure 12 to 60 Months |
12 to 36 Months |
Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 2,275 |
₹ 3,276 |
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 |
Borrower’s Age | Borrower’s Age 21 to 58 Years |
21 to 58 Years |
Minimum Income | Minimum Income ₹ 25,000 |
₹ 20,000 |
Current Work Experience | Current Work Experience 12 Months |
0 Months |
Total Work Experience | Total Work Experience 24 Months |
0 Months |
Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) 4.4/5.0 |
4.4/5.0 |
Compare EMI of Axis Finance and Indian Bank Personal Loan
Loan Amount | Axis Finance | Indian Bank |
---|---|---|
₹ 1 Lakh | ₹ 10,646 | ₹ 10,766 |
₹ 5 Lakh | ₹ 53,228 | ₹ 53,832 |
₹ 10 Lakh | ₹ 1,06,456 | ₹ 1,07,664 |
₹ 12 Lakh | ₹ 1,27,747 | ₹ 1,29,196 |
Which is a better bank for Personal Loan – Indian Bank or Axis Finance?
Axis Finance offers lower Personal Loan EMI at 2275 on a Personal Loan for 60 Months as compared to Indian Bank with a minimum EMI of 3276 for 36 Months. Average customer ratings for Axis Finance is currently at 4.4/5.0 which makes it a good choice for taking a Personal Loan.
How does Indian Bank Personal Loan compare with Axis Finance Personal Loan?
It is important to do a detailed comparison of Indian 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 Indian Bank Personal Loan is 11.05%, which is lower than the lowest interest rate of Axis Finance at 13.00%. Hence, Indian Bank 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 Indian Bank charges a processing fees of 0.5%, Min Rs. 508.
- Axis Finance offers Personal Loan upto an amount of ₹ 25 Lakh while Indian Bank offer Personal Loan upto an amount of ₹ 5 Lakh. 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 foreclosure facility. Indian 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 Indian Bank a better option for Personal Loan.
- Axis Finance and Indian Bank allow part payment on Personal Loan after 3 months at Nil charges. Axis Finance applies a charge of Nil charges and Indian Bank charges Nil charges on Personal Loan.
- Axis Finance with an average customer ratings of 4.4 is equally comparable to Indian Bank 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 lower interest rate on Personal Loan – Indian Bank or Axis Finance?
As per the current rates, Indian Bank offers a lower interest rate of 11.05% 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 Indian Bank?
You can transfer your Personal Loan from Axis Finance to Indian 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, Indian Bank offers the cheapest Personal Loan at 11.05%.
How do I check my eligibility for Axis Finance and Indian Bank Personal Loan?
You can check your eligibility for Axis Finance, Indian 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
- Personal Loan Apply Online
- Personal Loan Interest Rates
- Personal Loan EMI Calculator
- Personal Loan Eligibility Calculator
- Personal Loan Apps
- Personal Loan for Self Employed
- Personal Loan for Government Employees
- Tax Benefit on Personal Loan
- Marriage Loan
- Travel, Vacation Loan
- Instant Personal Loan
- Personal Loan Documents
- Personal Loan Balance Transfer
- Debt Consolidation Loan
- Consumer Durable Loan
- Line of Credit
- Pre-Approved Loan
Know more about Axis Finance Personal Loan
Know more about Indian Bank Personal Loan
Compare Axis Finance Personal Loan With Other Banks
Compare Indian Bank Personal Loan With Other Banks
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