Compare Personal Loan - Federal vs Andhra Bank
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
Syndicate Bank
Muthoot
Union Bank of India
Canara Bank
Bank of Maharashtra
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
|
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
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 11.49% - 17.99% |
11.55% - 13.05% |
Processing Fees | Processing Fees 0.5%, Min Rs. 500 |
Case to Case |
Loan Amount | Loan Amount ₹ 50,000 to ₹ 10 Lakh |
₹ 50,000 to ₹ 5 Lakh |
Loan Tenure | Loan Tenure 12 to 48 Months |
12 to 60 Months |
Lowest EMI Per Lakh | Lowest EMI Per Lakh ₹ 2,608 |
₹ 2,202 |
Part Payment Charges | Part Payment Charges Allowed after 0 months at Nil prepayment charges |
Allowed after 0 months at Nil prepayment charges |
Foreclosure Charges | Foreclosure Charges Allowed after 0 months at Nil prepayment charges |
Allowed after 0 months at Nil prepayment charges |
Borrower’s Age | Borrower’s Age 21 to 55 Years |
21 to 55 Years |
Minimum Income | Minimum Income ₹ 50,000 |
₹ 20,000 |
Current Work Experience | Current Work Experience 36 Months |
0 Months |
Total Work Experience | Total Work Experience 0 Months |
0 Months |
Customer Ratings (Read Reviews) | Customer Ratings (Read Reviews) |
|
Compare EMI of Federal and Andhra Bank Personal Loan
Loan Amount | Federal Bank | Andhra Bank |
---|---|---|
₹ 1 Lakh | ₹ 11,026 | ₹ 11,606 |
₹ 5 Lakh | ₹ 55,129 | ₹ 58,031 |
₹ 10 Lakh | ₹ 1,10,259 | ₹ 1,16,063 |
₹ 12 Lakh | ₹ 1,32,310 | ₹ 1,39,275 |
Which is a better bank for Personal Loan – Federal Bank or Andhra Bank?
Andhra Bank offers lower Personal Loan EMI at 2202 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 Andhra Bank is currently at /5.0 which makes it a good choice for taking a Personal Loan.
How does Federal Bank Personal Loan compare with Andhra Bank Personal Loan?
It is important to do a detailed comparison of Federal Bank 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 Federal Bank Personal Loan is 11.49%, which is lower than the lowest interest rate of Andhra Bank at 11.55%. Hence, Federal Bank is offering a cheaper loan option.
- When compared on other Personal Loan charges such as processing fees, Federal Bank charges a processing fees of 0.5%, Min Rs. 500 while Andhra Bank charges a processing fees of Case to Case.
- Federal Bank offers Personal Loan upto an amount of ₹ 10 Lakh while Andhra Bank offer Personal Loan upto an amount of ₹ 5 Lakh. Federal Bank 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. Andhra Bank and Federal Bank gives the option to close the loan after Zero months at Nil prepayment charges and Nil prepayment charges. This makes Andhra Bank a better option for Personal Loan.
- Andhra Bank and Federal Bank allow part payment on Personal Loan after Zero months at Nil charges. Andhra Bank applies a charge of Nil charges and Federal Bank charges Nil charges on 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 – Federal Bank or Andhra Bank?
As per the current rates, Federal Bank offers a lower interest rate of 11.49% on Personal Loan when compared to Andhra Bank which offers a Personal Loan at 11.55%.
How can I transfer my Personal Loan from Federal Bank to Andhra Bank?
You can transfer your Personal Loan from Federal Bank to Andhra 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, Federal Bank offers the cheapest Personal Loan at 11.49%.
How do I check my eligibility for Federal Bank and Andhra Bank Personal Loan?
You can check your eligibility for Federal Bank, Andhra 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 Federal Bank Personal Loan
Know more about Andhra Bank Personal Loan
Compare Federal Bank Personal Loan With Other Banks
Compare Andhra Bank Personal Loan With Other Banks
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