Compare Bank of Maharashtra vs Axis Bank Personal Loan
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
IDBI Bank
Karur Vysya Bank
Muthoot
Yes Bank
Standard Chartered Bank
Union Bank of India
Canara Bank
Andhra Bank
Allahabad Bank
Federal Bank
Syndicate Bank
Bank of Baroda
PNB
Indian Overseas Bank
Indian Bank
Corporation Bank
Cashe
Axis Finance
|
---|---|---|
Interest Rate | Interest Rate 10.35% - 13.70% |
10.75% - 17.25% |
Processing Fees | Processing Fees 1.00%, Min Rs. 1,000 |
Rs.4,999 |
Loan Amount | Loan Amount ₹ 1 Lakh to ₹ 20 Lakh |
₹ 50,000 to ₹ 25 Lakh |
Loan Tenure | Loan Tenure 6 to 36 Months |
12 to 60 Months |
Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 3,243 |
₹ 2,162 |
Part Payment Charges | Part Payment Charges Not Allowed |
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 1 month at Nil prepayment charges |
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 60 Years |
21 to 60 Years |
Minimum Income | Minimum Income ₹ 20,000 |
₹ 25,000 |
Current Work Experience | Current Work Experience 12 Months |
1 Month |
Total Work Experience | Total Work Experience 36 Months |
12 Months |
Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
4.5/5.0 |
Compare Personal Loan EMI of Bank of Maharashtra and Axis Bank
Loan Amount | Bank of Maharashtra | Axis Bank |
---|---|---|
₹ 1 Lakh | ₹ 3,243 | ₹ 2,162 |
₹ 5 Lakh | ₹ 16,216 | ₹ 10,809 |
₹ 10 Lakh | ₹ 32,432 | ₹ 21,618 |
₹ 12 Lakh | ₹ 38,918 | ₹ 25,942 |
Which is a better bank for Personal Loan – Bank of Maharashtra or Axis Bank?
Axis Bank offers lower Personal Loan EMI at Rs. 2162 for 60 Months compared to Bank of Maharashtra with a minimum EMI of Rs. 3243 for 36 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 Bank of Maharashtra Personal Loan compare with Axis Bank Personal Loan?
It is important to make a detailed comparison of Bank of Maharashtra and Axis Bank 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:
Which bank offers a lower interest rate on Personal Loan – Bank of Maharashtra or Axis Bank?
As per the current rates, Bank of Maharashtra offers a lower interest rate of 10.35% on loans compared to Axis Bank, which offers a Personal Loan at 10.75%.
Know more about Bank of Maharashtra Personal Loan
Know more about Axis Bank Personal Loan
Compare Bank of Maharashtra Personal Loan With Other Banks
Compare Axis Bank Personal Loan With Other Banks
- 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.
