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Compare Bajaj Finserv vs Allahabad Bank Personal Loan

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Bank
Interest Rate
Interest Rate
12.99% - 15.50%
9.05% - 13.65%
Processing Fees
Processing Fees
Starting from 1.50%, Up to 3%
1.06%, Min Rs. 1068
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 25 Lakh
₹ 50,000 to ₹ 7.50 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,275
₹ 2,078
Part Payment Charges
Part Payment Charges
Allowed after 1 month at 2%
Allowed after 0 months at 2.25%
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at 4%
Allowed after 0 months at 2.25%
Eligible Age
Eligible Age
25 to 58 Years
25 to 58 Years
Minimum Income
Minimum Income
₹ 27,000
₹ 20,000
Current Work Experience
Current Work Experience
1 Month
24 Months
Total Work Experience
Total Work Experience
36 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 Bajaj Finserv and Allahabad Bank

Loan Amount Bajaj Finserv Allahabad Bank
₹ 1 Lakh ₹ 2,275 ₹ 2,078
₹ 5 Lakh ₹ 11,374 ₹ 10,391
₹ 10 Lakh ₹ 22,748 ₹ 20,783
₹ 12 Lakh ₹ 27,298 ₹ 24,939

Which is a better bank for Personal Loan – Allahabad Bank or Bajaj Finserv?

Allahabad Bank offers lower Personal Loan EMI at Rs. 2078 for 60 Months compared to Bajaj Finserv with a minimum EMI of Rs. 2275 for 60 Months. In addition, average customer ratings for Allahabad Bank is currently at 4.4/5.0, making it a good choice for taking a Personal Loan.

How does Allahabad Bank Personal Loan compare with Bajaj Finserv Personal Loan?

It is important to make a detailed comparison of Allahabad Bank and Bajaj Finserv 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 Allahabad Bank Loan is 9.05%, which is lower than the lowest interest rate of Bajaj Finserv at 12.99%. Hence, Allahabad Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Bajaj Finserv charges a processing fee of Starting from 1.50%, Up to 3%, while Allahabad Bank charges a processing fee of Upto 1.06%, Min Rs. 1068.
  • Bajaj Finserv offers Personal Loan upto an amount of ₹ 25 Lakh, while Allahabad Bank offers Loan upto an amount of ₹ 7.50 Lakh. Therefore, Bajaj Finserv 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. Allahabad Bank gives the option to close the loan after Zero months at 2.25% and Bajaj Finserv gives the option to close the loan after 1 months at 4%. This makes Allahabad Bank a better option for Personal Loan.
  • Allahabad Bank and Bajaj Finserv allow part payment on Personal Loan after Zero months at 2.25%. Allahabad Bank applies a charge of 2.25% and Bajaj Finserv charges 2% on Personal Loan.
  • Allahabad Bank with an average customer rating of 4.4 is equally comparable to Bajaj Finserv 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 – Allahabad Bank or Bajaj Finserv?

As per the current rates, Allahabad Bank offers a lower interest rate of 9.05% on loans compared to Bajaj Finserv, which offers a Personal Loan at 12.99%.

Know more about Bajaj Finserv Personal Loan

Know more about Allahabad Bank Personal Loan

Compare Bajaj Finserv Personal Loan With Other Banks

Compare Allahabad 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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