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Compare Canara Bank vs PNB Personal Loan

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Interest Rate
Interest Rate
12.40% - 13.90%
8.70% - 14.25%
Processing Fees
Processing Fees
1.8% + Taxes
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 3 Lakh
₹ 50,000 to ₹ 15 Lakh
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,653
₹ 2,061
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
Eligible Age
Eligible Age
21 to 60 Years
21 to 58 Years
Minimum Income
Minimum Income
₹ 15,000
₹ 30,000
Current Work Experience
Current Work Experience
12 Months
Total Work Experience
Total Work Experience
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Personal Loan EMI of Canara Bank and PNB

Loan Amount Canara Bank PNB
₹ 1 Lakh ₹ 2,653 ₹ 2,061
₹ 5 Lakh ₹ 13,265 ₹ 10,307
₹ 10 Lakh ₹ 26,531 ₹ 20,613
₹ 12 Lakh ₹ 31,837 ₹ 24,736

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

PNB offers lower Personal Loan EMI at Rs. 2061 for 60 Months compared to Canara Bank with a minimum EMI of Rs. 2653 for 48 Months. In addition, average customer ratings for PNB is currently at /5.0, making it a good choice for taking a Personal Loan.

How does PNB Personal Loan compare with Canara Bank Personal Loan?

It is important to make a detailed comparison of PNB 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 PNB Loan is 8.70%, which is lower than the lowest interest rate of Canara Bank at 12.40%. Hence, PNB 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 PNB charges a processing fee of Upto 1.8% + Taxes.
  • PNB offers Personal Loan upto an amount of ₹ 15 Lakh, while Canara Bank offers Loan upto an amount of ₹ 3 Lakh. Therefore, PNB 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. PNB gives the option to close the loan after Zero months at Nil prepayment charges and Canara Bank gives the option to close the loan after 1 months at Nil prepayment charges. This makes PNB a better option for Personal Loan.
  • PNB allows part payment on Personal Loan after Zero months at Nil charges, while Canara Bank does not offer a part payment facility. This makes PNB a better option for instant loan requirements.
  • 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 – PNB or Canara Bank?

As per the current rates, PNB offers a lower interest rate of 8.70% on loans compared to Canara Bank, which offers a Personal Loan at 12.40%.

Know more about Canara Bank Personal Loan

Know more about PNB Personal Loan

Compare Canara Bank Personal Loan With Other Banks

Compare PNB Personal Loan With Other Banks

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Personal Loan News - Oct 2021
  • 2021-10-14 : Zavron Finserv Launches Instant Personal Loan Application
    Zavron Finserv- a non-banking financial institution- has introduced an instant personal loan application. This App will help customers to take loans instantly within few minutes that too from their mobile phone. A loan for a minimum of Rs 10,000 and a maximum of Rs 2 lakh is available.
  • 2021-10-13 : Early Salary Introduces Dussehra Offers
    Early Salary has announced the Dussehra offer on personal loans by 50% off on processing fees. The interest rate charged by the instant mobile application is Rs. 9 per day.
  • 2021-10-12 : Axis Bank Has Launched Open API For Customers
    Axis Bank unveils open APIs (Application Programming Interface), these APIs will help retail and corporate customers/ partners to use banking services integrated across partner platforms. This banking portal has retail as well as corporate products like loans, accounts, deposits, payments, trade, collections and bills.
  • 2021-10-11 : Punjab National Bank Introduces 6S Campaign
    Punjab National Bank (PNB) has launched the 6S Campaign. The campaign consists of schemes like Swabhiman, Samruddhi, Sampark and Shikhar, Sankalp and Swagat. The objective of the campaign is to spread awareness about the development of financial services and accelerate credit growth, improve penetration of social security schemes and drive digital banking push.
  • 2021-10-07 : Bank of Baroda Decreases Personal Loan Rates
    Bank of Baroda has decreased personal loan rates by 25 points to 9.75%. Earlier the personal loan started at 10.00%.
*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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