Compare Personal Loan - Fullerton India vs Axis Bank

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Bank	SBI HDFC Bank ICICI Bank Bajaj Finserv IDFC First Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Muthoot Union Bank of India Canara Bank Bank of Maharashtra Syndicate Bank Andhra Bank Allahabad Bank Federal Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Yes Bank Karur Vysya Bank Axis Finance	SBI HDFC Bank ICICI Bank Bajaj Finserv IDFC First Bank Axis Bank Tata Capital 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 Karur Vysya Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Yes Bank Axis Finance
Parameters
Interest Rate	Interest Rate 11.99% - 18.99%	10.49% - 16.75%
Processing Fees	Processing Fees 2%	Rs.4,999
Loan Amount	Loan Amount ₹ 50,000 to ₹ 25 Lakh	₹ 50,000 to ₹ 25 Lakh
Loan Tenure	Loan Tenure 12 to 48 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,633	₹ 2,149
Part Payment Charges	Part Payment Charges Not Allowed	Allowed after 1 month at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
Foreclosure Charges	Foreclosure Charges Allowed after 6 months at 1 -17 months: 7%, 18 - 23 months: 5%, 24 - 35 months: 3%, After 36 months: Nil	Allowed after 1 month at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
Eligible Age	Eligible Age 21 to 58 Years	21 to 60 Years
Minimum Income	Minimum Income ₹ 17,000	₹ 25,000
Current Work Experience	Current Work Experience 1 Month	1 Month
Total Work Experience	Total Work Experience 12 Months	12 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.1/5.0	4.4/5.0

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Compare EMI of Fullerton India and Axis Bank Personal Loan

Loan Amount	Fullerton India	Axis Bank
₹ 1 Lakh	₹ 2,633	₹ 2,149
₹ 5 Lakh	₹ 13,164	₹ 10,744
₹ 10 Lakh	₹ 26,329	₹ 21,489
₹ 12 Lakh	₹ 31,595	₹ 25,787

Which is a better bank for Personal Loan – Axis Bank or Fullerton India?

Axis Bank offers lower Personal Loan EMI at 2149 on a Personal Loan for 60 Months as compared to Fullerton India with a minimum EMI of 2633 for 48 Months. Average customer ratings for Axis Bank is currently at 4.4/5.0 which makes it a good choice for taking a Personal Loan.

How does Axis Bank Personal Loan compare with Fullerton India Personal Loan?

It is important to do a detailed comparison of Axis 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 Axis Bank Personal Loan is 10.49%, which is lower than the lowest interest rate of Fullerton India at 11.99%. Hence, Axis Bank is offering a cheaper loan option.
When compared on other Personal Loan charges such as processing fees, Fullerton India charges a processing fees of 2% while Axis Bank charges a processing fees of Rs.4,999.
One feature that makes Personal Loan a better option is foreclosure facility. Axis Bank gives the option to close the loan after 1 months at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2% and Fullerton India gives the option to close the loan after 6 months at 1 -17 months: 7%, 18 - 23 months: 5%, 24 - 35 months: 3%, After 36 months: Nil. This makes Axis Bank a better option for Personal Loan.
Axis Bank allows part payment on Personal Loan after 1 months at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%, while Fullerton India does not offer part payment facility on Personal Loan. This makes Axis Bank a better option for Personal Loan.
Axis Bank has an average customer ratings of 4.4, while Fullerton India has an average customer rating of 4.1, based on which it is clear that Axis Bank has a high customer service focus, an easy Personal Loan process and a quick turnaround.

Which bank offers lower interest rate on Personal Loan – Axis Bank or Fullerton India?

As per the current rates, Axis Bank offers a lower interest rate of 10.49% on Personal Loan when compared to Fullerton India which offers a Personal Loan at 11.99%.

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Personal Loan News - Jun 2021

2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
2021-06-11 : YONO to offer fast-tracked two-wheeler loans and express credit
The State Bank of India YONO app is going to offer fast track two-wheeler loans and express credit, a high-value personal loan. SBI is planning to expand the YONO product basket. YONO will be offering two-wheeler loans along with personal loans of small ticket size, between Rs 5-10 lakhs.
2021-06-11 : MyLoanCare collaborates with three of the top app-based lenders
MyLoanCare Ventures Pvt Ltd has collaborated with three of the top app-based lenders - MoneyTap, EarlySalary, and Paysense to make Instant Small Ticket Personal Loans convenient, transparent and much quicker.
2021-06-11 : MyLoanCare collaborates with three of the top app-based lenders
MyLoanCare Ventures Pvt Ltd has collaborated with three of the top app-based lenders - MoneyTap, EarlySalary, and Paysense to make Instant Small Ticket Personal Loans convenient, transparent and much quicker.
2021-06-10 : Rural Loan Collections to be affected by the Second wave
As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.

*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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