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Compare Personal Loan - Bank of Maharashtra vs Bank of Baroda

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Bank
Parameters
Interest Rate
Interest Rate
9.55% - 12.90%
10.50% - 12.50%
Processing Fees
Processing Fees
1.00%, Min Rs. 1,000
2%, Min Rs. 250
Loan Amount
Loan Amount
₹ 50,000 to ₹ 20 Lakh
₹ 50,000 to ₹ 5 Lakh
Loan Tenure
Loan Tenure
12 to 84 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 1,637
₹ 2,149
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil prepayment charges
Allowed after 1 month at Nil
Eligible Age
Eligible Age
21 to 60 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 20,000
Current Work Experience
Current Work Experience
12 Months
12 Months
Total Work Experience
Total Work Experience
36 Months
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Bank of Maharashtra and Bank of Baroda Personal Loan

Loan Amount Bank of Maharashtra Bank of Baroda
₹ 1 Lakh ₹ 1,637 ₹ 2,149
₹ 5 Lakh ₹ 8,185 ₹ 10,747
₹ 10 Lakh ₹ 16,370 ₹ 21,494
₹ 12 Lakh ₹ 19,644 ₹ 25,793

Which is a better bank for Personal Loan – Bank of Maharashtra or Bank of Baroda?

Bank of Maharashtra offers lower Personal Loan EMI at 1637 on a Personal Loan for 84 Months as compared to Bank of Baroda with a minimum EMI of 2149 for 60 Months. Average customer ratings for Bank of Maharashtra is currently at /5.0 which makes it a good choice for taking a Personal Loan.

How does Bank of Maharashtra Personal Loan compare with Bank of Baroda Personal Loan?

It is important to do a detailed comparison of Bank of Maharashtra 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 Bank of Maharashtra Personal Loan is 9.55%, which is lower than the lowest interest rate of Bank of Baroda at 10.50%. Hence, Bank of Maharashtra is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, Bank of Maharashtra charges a processing fees of 1.00%, Min Rs. 1,000 while Bank of Baroda charges a processing fees of 2%, Min Rs. 250.
  • Bank of Maharashtra offers Personal Loan upto an amount of ₹ 20 Lakh while Bank of Baroda offer Personal Loan upto an amount of ₹ 5 Lakh. Bank of Maharashtra 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. Bank of Baroda and Bank of Maharashtra gives the option to close the loan after 1 months at Nil and Nil prepayment charges. This makes Bank of Baroda a better option for Personal Loan.
  • with an average customer ratings of is equally comparable to with an average customer rating of . Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers lower interest rate on Personal Loan – Bank of Maharashtra or Bank of Baroda?

As per the current rates, Bank of Maharashtra offers a lower interest rate of 9.55% on Personal Loan when compared to Bank of Baroda which offers a Personal Loan at 10.50%.

Know all about Personal Loan

Know more about Bank of Maharashtra Personal Loan

Know more about Bank of Baroda Personal Loan

Compare Bank of Maharashtra Personal Loan With Other Banks

Compare Bank of Baroda Personal Loan With Other Banks

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Personal Loan News - Jun 2021
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    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-06-11 : YONO to offer fast-tracked two-wheeler loans and express credit
    The State Bank of India YONO app is going to offer fast track two-wheeler loans and express credit, a high-value personal loan. SBI is planning to expand the YONO product basket. YONO will be offering two-wheeler loans along with personal loans of small ticket size, between Rs 5-10 lakhs.
  • 2021-06-11 : MyLoanCare collaborates with three of the top app-based lenders
    MyLoanCare Ventures Pvt Ltd has collaborated with three of the top app-based lenders - MoneyTap, EarlySalary, and Paysense to make Instant Small Ticket Personal Loans convenient, transparent and much quicker.
  • 2021-06-11 : MyLoanCare collaborates with three of the top app-based lenders
    MyLoanCare Ventures Pvt Ltd has collaborated with three of the top app-based lenders - MoneyTap, EarlySalary, and Paysense to make Instant Small Ticket Personal Loans convenient, transparent and much quicker.
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
*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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