Compare Corporation Bank vs Axis Finance Personal Loan

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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 Federal Bank Muthoot Union Bank of India Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Yes Bank Karur Vysya Bank Syndicate Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Cashe	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 Bank of Maharashtra Andhra Bank Allahabad Bank Federal Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Bank of Baroda Standard Chartered Bank Yes Bank Karur Vysya Bank Cashe Axis Finance
Interest Rate	Interest Rate 8.90% - 13.00%	13.00% - 18.00%
Processing Fees	Processing Fees 1.5%, Min Rs. 500	2%
Loan Amount	Loan Amount ₹ 1 Lakh to ₹ 2.50 Lakh	₹ 50,000 to ₹ 25 Lakh
Loan Tenure	Loan Tenure 12 to 36 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,175	₹ 2,275
Part Payment Charges	Part Payment Charges Allowed after 0 months at Nil prepayment charges	Allowed after 3 months at Nil Part-Payment Charges
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at Nil prepayment charges	Allowed after 6 months at Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period
Eligible Age	Eligible Age 21 to 58 Years	21 to 58 Years
Minimum Income	Minimum Income ₹ 20,000	₹ 25,000
Current Work Experience	Current Work Experience NA	12 Months
Total Work Experience	Total Work Experience NA	24 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	4.4/5.0

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Compare Personal Loan EMI of Corporation Bank and Axis Finance

Loan Amount	Corporation Bank	Axis Finance
₹ 1 Lakh	₹ 3,175	₹ 2,275
₹ 5 Lakh	₹ 15,877	₹ 11,377
₹ 10 Lakh	₹ 31,753	₹ 22,753
₹ 12 Lakh	₹ 38,104	₹ 27,304

Which is a better bank for Personal Loan – Corporation Bank or Axis Finance?

Axis Finance offers lower Personal Loan EMI at Rs. 2275 for 60 Months compared to Corporation Bank with a minimum EMI of Rs. 3175 for 36 Months. In addition, average customer ratings for Axis Finance is currently at 4.4/5.0, making it a good choice for taking a Personal Loan.

How does Corporation Bank Personal Loan compare with Axis Finance Personal Loan?

It is important to make a detailed comparison of Corporation Bank and Axis Finance 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 Corporation Bank Loan is 8.90%, which is lower than the lowest interest rate of Axis Finance at 13.00%. Hence, Corporation Bank is offering a cheaper loan option.
Compared to other Personal Loan charges such as processing fees, Corporation Bank charges a processing fee of 1.5%, Min Rs. 500, while Axis Finance charges a processing fee of Upto 2%.
Axis Finance offers Personal Loan upto an amount of ₹ 25 Lakh, while Corporation Bank offers Loan upto an amount of ₹ 2.50 Lakh. Therefore, Axis Finance 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. Corporation Bank gives the option to close the loan after Zero months at Nil prepayment charges and Axis Finance gives the option to close the loan after 6 months at Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period. This makes Corporation Bank a better option for Personal Loan.
Axis Finance and Corporation Bank allow part payment on Personal Loan after 3 months at Nil charges. Axis Finance applies a charge of Nil charges and Corporation Bank charges Nil charges on Personal Loan.
Axis Finance has an average customer rating of 4.4. In contrast, has an average customer rating of , based on which it is clear that Axis Finance has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Personal Loan – Corporation Bank or Axis Finance?

As per the current rates, Corporation Bank offers a lower interest rate of 8.90% on loans compared to Axis Finance, which offers a Personal Loan at 13.00%.

Know more about Corporation Bank Personal Loan

Know more about Axis Finance Personal Loan

Compare Corporation Bank Personal Loan With Other Banks

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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

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