Compare Canara Bank vs Bank of Maharashtra Personal Loan

Download Comparison

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 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	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 Bank of Maharashtra 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 13.30% - 14.80%	10.35% - 13.70%
Processing Fees	Processing Fees 0.50%	1.00%, Min Rs. 1,000
Loan Amount	Loan Amount ₹ 1 Lakh to ₹ 3 Lakh	₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure	Loan Tenure 12 to 48 Months	6 to 36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,698	₹ 3,243
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 prepayment charges
Eligible Age	Eligible Age 21 to 60 Years	21 to 60 Years
Minimum Income	Minimum Income ₹ 15,000	₹ 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)

Add Bank

Compare Personal Loan EMI of Canara Bank and Bank of Maharashtra

Loan Amount	Canara Bank	Bank of Maharashtra
₹ 1 Lakh	₹ 2,698	₹ 3,243
₹ 5 Lakh	₹ 13,488	₹ 16,216
₹ 10 Lakh	₹ 26,977	₹ 32,432
₹ 12 Lakh	₹ 32,372	₹ 38,918

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

Canara Bank offers lower Personal Loan EMI at Rs. 2698 for 48 Months compared to Bank of Maharashtra with a minimum EMI of Rs. 3243 for 36 Months. In addition, average customer ratings for Canara Bank is currently at /5.0, making it a good choice for taking a Personal Loan.

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

It is important to make a detailed comparison of Bank of Maharashtra and Canara 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:

Lowest Interest rate of Bank of Maharashtra Loan is 10.35%, which is lower than the lowest interest rate of Canara Bank at 13.30%. Hence, Bank of Maharashtra is offering a cheaper loan option.
Compared to other Personal Loan charges such as processing fees, Canara Bank charges a processing fee of 0.50%, while Bank of Maharashtra charges a processing fee of Upto 1.00%, Min Rs. 1,000.
Bank of Maharashtra offers Personal Loan upto an amount of ₹ 20 Lakh, while Canara Bank offers Loan upto an amount of ₹ 3 Lakh. Therefore, 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 the foreclosure facility. Bank of Maharashtra and Canara Bank gives the option to close the loan after 1 months at Nil prepayment charges and Nil prepayment charges. This makes Bank of Maharashtra a better option for Personal Loan.
with an average customer rating 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 a lower interest rate on Personal Loan – Bank of Maharashtra or Canara Bank?

As per the current rates, Bank of Maharashtra offers a lower interest rate of 10.35% on loans compared to Canara Bank, which offers a Personal Loan at 13.30%.

Know more about Canara Bank Personal Loan

Know more about Bank of Maharashtra Personal Loan

Compare Canara Bank Personal Loan With Other Banks

Compare Bank of Maharashtra Personal Loan With Other Banks

Notification ×

Home Loan
Home Loan at all-time low rates starting at 7.15%. Cashback of up to ₹ 1,000
Apply Now
Personal Loan
Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.
Check Offers
Gold Loan
Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500
Apply Now
Loan Against Property
Best Loan Against Property Offers starting @ 8.10%. Cashback of up to ₹ 1,000*.
Apply Now
Business Loan
Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.
Apply Now
Fixed Deposit
AAA rated FDs with returns as high as 7.05%.
Invest Now

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

Apply Personal Loan Online @ 10.25% ☺

Please wait while your information is being processed...