Compare Federal Bank vs Andhra Bank 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 IDBI Bank Karur Vysya Bank Muthoot Yes Bank Standard Chartered Bank Union Bank of India Canara Bank Bank of Maharashtra 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 Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Syndicate Bank Bank of Baroda PNB Indian Overseas Bank Indian Bank Corporation Bank Cashe Axis Finance
Interest Rate	Interest Rate 10.49% - 17.99%	8.90% - 13.00%
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 ₹ 2,560	₹ 2,071
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
Eligible Age	Eligible Age 21 to 55 Years	18 to 55 Years
Minimum Income	Minimum Income ₹ 50,000	₹ 20,000
Current Work Experience	Current Work Experience 36 Months	NA
Total Work Experience	Total Work Experience NA	NA
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)

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Compare Personal Loan EMI of Federal Bank and Andhra Bank

Loan Amount	Federal Bank	Andhra Bank
₹ 1 Lakh	₹ 2,560	₹ 2,071
₹ 5 Lakh	₹ 12,799	₹ 10,355
₹ 10 Lakh	₹ 25,599	₹ 20,710
₹ 12 Lakh	₹ 30,718	₹ 24,852

Which is a better bank for Personal Loan – Andhra Bank or Federal Bank?

Andhra Bank offers lower Personal Loan EMI at Rs. 2071 for 60 Months compared to Federal Bank with a minimum EMI of Rs. 2560 for 48 Months. In addition, average customer ratings for Andhra Bank is currently at /5.0, making it a good choice for taking a Personal Loan.

How does Andhra Bank Personal Loan compare with Federal Bank Personal Loan?

It is important to make a detailed comparison of Andhra Bank and Federal 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 Andhra Bank Loan is 8.90%, which is lower than the lowest interest rate of Federal Bank at 10.49%. Hence, Andhra Bank is offering a cheaper loan option.
Compared to other Personal Loan charges such as processing fees, Federal Bank charges a processing fee of 0.5%, Min Rs. 500, while Andhra Bank charges a processing fee of Upto Case to Case.
Federal Bank offers Personal Loan upto an amount of ₹ 10 Lakh, while Andhra Bank offers Loan upto an amount of ₹ 5 Lakh. Therefore, 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 the 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 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 – Andhra Bank or Federal Bank?

As per the current rates, Andhra Bank offers a lower interest rate of 8.90% on loans compared to Federal Bank, which offers a Personal Loan at 10.49%.

Know more about Federal Bank Personal Loan

Know more about Andhra Bank Personal Loan

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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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