MyLoanCare is a FREE of cost service for borrowers

Get Cashback of Upto ₹1,000* on Personal Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Personal Loan - Federal Bank vs Corporation Bank

Download Comparison
Bank
Parameters
Interest Rate
Interest Rate
10.49% - 17.99%
8.90% - 13.00%
Processing Fees
Processing Fees
0.5%, Min Rs. 500
1.5%, Min Rs. 500
Loan Amount
Loan Amount
₹ 50,000 to ₹ 10 Lakh
₹ 1 Lakh to ₹ 2.50 Lakh
Loan Tenure
Loan Tenure
12 to 48 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,560
₹ 3,175
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
21 to 58 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)
Add Bank

Compare EMI of Federal Bank and Corporation Bank Personal Loan

Loan Amount Federal Bank Corporation Bank
₹ 1 Lakh ₹ 2,560 ₹ 3,175
₹ 5 Lakh ₹ 12,799 ₹ 15,877
₹ 10 Lakh ₹ 25,599 ₹ 31,753
₹ 12 Lakh ₹ 30,718 ₹ 38,104

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

Federal Bank offers lower Personal Loan EMI at 2560 on a Personal Loan for 48 Months as compared to Corporation Bank with a minimum EMI of 3175 for 36 Months. Average customer ratings for Federal Bank is currently at /5.0 which makes it a good choice for taking a Personal Loan.

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

It is important to do a detailed comparison of Corporation 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 Corporation Bank Personal Loan is 8.90%, which is lower than the lowest interest rate of Federal Bank at 10.49%. Hence, Corporation 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 Corporation Bank charges a processing fees of 1.5%, Min Rs. 500.
  • Federal Bank offers Personal Loan upto an amount of ₹ 10 Lakh while Corporation Bank offer Personal Loan upto an amount of ₹ 2.50 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. Corporation Bank and Federal Bank gives the option to close the loan after Zero months at Nil prepayment charges and Nil prepayment charges. This makes Corporation Bank a better option for Personal Loan.
  • Corporation Bank and Federal Bank allow part payment on Personal Loan after Zero months at Nil charges. Corporation 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 – Corporation Bank or Federal Bank?

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

Know all about Personal Loan

Know more about Federal Bank Personal Loan

Know more about Corporation Bank Personal Loan

Compare Federal Bank Personal Loan With Other Banks

Compare Corporation Bank Personal Loan With Other Banks

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.65%. 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 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 7.20%. 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 6.95%.

    Invest Now
Personal Loan News - Jul 2021
  • 2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
    Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
  • 2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
    Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
  • 2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
    Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
  • 2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
    The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
*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
Loader
Please wait while your information is being processed...