Compare Personal Loan - Bank of Maharashtra vs Federal Bank
Bank |
SBI
HDFC Bank
ICICI Bank
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IDFC First Bank
Axis Bank
Tata Capital
Fullerton India
IndusInd Bank
Kotak Bank
RBL Bank
IIFL
HDB Financial
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Bank of Maharashtra
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Allahabad Bank
Karur Vysya Bank
PNB
Indian Overseas Bank
Indian Bank
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Bank of Baroda
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Yes 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
Syndicate Bank
Muthoot
Union Bank of India
Canara Bank
Andhra Bank
Allahabad Bank
Federal Bank
Karur Vysya Bank
PNB
Indian Overseas Bank
Indian Bank
IDBI Bank
Corporation Bank
Bank of Baroda
Standard Chartered Bank
Yes Bank
Axis Finance
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Parameters | ||
Interest Rate | Interest Rate 10.85% - 11.85% |
11.49% - 17.99% |
Processing Fees | Processing Fees 1.00%, Min Rs. 1,000 |
0.5%, Min Rs. 500 |
Loan Amount | Loan Amount ₹ 50,000 to ₹ 10 Lakh |
₹ 50,000 to ₹ 10 Lakh |
Loan Tenure | Loan Tenure 12 to 60 Months |
12 to 48 Months |
Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 2,167 |
₹ 2,608 |
Part Payment Charges | Part Payment Charges Not Allowed |
Allowed after 0 months at Nil prepayment charges |
Foreclosure Charges | Foreclosure Charges Allowed after 1 month at Nil prepayment charges |
Allowed after 0 months at Nil prepayment charges |
Borrower’s Age | Borrower’s Age 21 to 60 Years |
21 to 55 Years |
Minimum Income | Minimum Income ₹ 20,000 |
₹ 50,000 |
Current Work Experience | Current Work Experience 12 Months |
36 Months |
Total Work Experience | Total Work Experience 36 Months |
0 Months |
Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
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Compare EMI of Bank of Maharashtra and Federal Bank Personal Loan
Loan Amount | Bank of Maharashtra | Federal Bank |
---|---|---|
₹ 1 Lakh | ₹ 2,167 | ₹ 2,608 |
₹ 5 Lakh | ₹ 10,834 | ₹ 13,042 |
₹ 10 Lakh | ₹ 21,668 | ₹ 26,084 |
₹ 12 Lakh | ₹ 26,001 | ₹ 31,301 |
Which is a better bank for Personal Loan – Bank of Maharashtra or Federal Bank?
Bank of Maharashtra offers lower Personal Loan EMI at 2167 on a Personal Loan for 60 Months as compared to Federal Bank with a minimum EMI of 2608 for 48 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 Federal Bank 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:
Which bank offers lower interest rate on Personal Loan – Bank of Maharashtra or Federal Bank?
As per the current rates, Bank of Maharashtra offers a lower interest rate of 10.85% on Personal Loan when compared to Federal Bank which offers a Personal Loan at 11.49%.
How can I transfer my Personal Loan from Bank of Maharashtra to Federal Bank?
You can transfer your Personal Loan from Bank of Maharashtra to Federal 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, Bank of Maharashtra offers the cheapest Personal Loan at 10.85%.
How do I check my eligibility for Bank of Maharashtra and Federal Bank Personal Loan?
You can check your eligibility for Bank of Maharashtra, Federal 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 Bank of Maharashtra Personal Loan
Know more about Federal Bank Personal Loan
Compare Bank of Maharashtra Personal Loan With Other Banks
Compare Federal Bank Personal Loan With Other Banks
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