Compare Fullerton India vs Bank of Maharashtra 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 Andhra Bank 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 IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Corporation Bank Karur Vysya Bank Muthoot Yes Bank Union Bank of India Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Federal Bank Standard Chartered Bank Syndicate Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Bank of Baroda Cashe Axis Finance
Interest Rate	Interest Rate 11.99% - 18.99%	10.35% - 13.70%
Processing Fees	Processing Fees 2%	1.00%, Min Rs. 1,000
Loan Amount	Loan Amount ₹ 50,000 to ₹ 25 Lakh	₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure	Loan Tenure 12 to 48 Months	6 to 36 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,633	₹ 3,243
Part Payment Charges	Part Payment Charges Not Allowed	Not Allowed
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 Nil prepayment charges
Eligible Age	Eligible Age 21 to 58 Years	21 to 60 Years
Minimum Income	Minimum Income ₹ 17,000	₹ 20,000
Current Work Experience	Current Work Experience 1 Month	12 Months
Total Work Experience	Total Work Experience 12 Months	36 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.1/5.0	4.1/5.0

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Compare Personal Loan EMI of Fullerton India and Bank of Maharashtra

Loan Amount	Fullerton India	Bank of Maharashtra
₹ 1 Lakh	₹ 2,633	₹ 3,243
₹ 5 Lakh	₹ 13,164	₹ 16,216
₹ 10 Lakh	₹ 26,329	₹ 32,432
₹ 12 Lakh	₹ 31,595	₹ 38,918

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

Fullerton India offers lower Personal Loan EMI at Rs. 2633 for 48 Months compared to Bank of Maharashtra with a minimum EMI of Rs. 3243 for 36 Months. In addition, average customer ratings for Fullerton India is currently at 4.1/5.0, making it a good choice for taking a Personal Loan.

How does Bank of Maharashtra Personal Loan compare with Fullerton India Personal Loan?

It is important to make a detailed comparison of Bank of Maharashtra and Fullerton India 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 Bank of Maharashtra Loan is 10.35%, which is lower than the lowest interest rate of Fullerton India at 11.99%. Hence, Bank of Maharashtra is offering a cheaper loan option.
Compared to other Personal Loan charges such as processing fees, Fullerton India charges a processing fee of 2%, while Bank of Maharashtra charges a processing fee of Upto 1.00%, Min Rs. 1,000.
Fullerton India offers Personal Loan upto an amount of ₹ 25 Lakh, while Bank of Maharashtra offers Loan upto an amount of ₹ 20 Lakh. Therefore, Fullerton India 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. Bank of Maharashtra gives the option to close the loan after 1 months at Nil prepayment charges 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 Bank of Maharashtra a better option for Personal Loan.
Bank of Maharashtra with an average customer rating of 4.1 is equally comparable to Fullerton India with an average customer rating of 4.1. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Personal Loan – Bank of Maharashtra or Fullerton India?

As per the current rates, Bank of Maharashtra offers a lower interest rate of 10.35% on loans compared to Fullerton India, which offers a Personal Loan at 11.99%.

Know more about Fullerton India Personal Loan

Know more about Bank of Maharashtra Personal Loan

Compare Fullerton India Personal Loan With Other Banks

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Personal Loan News - Jun 2022

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.
2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
2022-05-12 : Indian Bank Revises Personal Loan Rates
Indian Bank has increased the rates on personal loans, and as a result, the bank offers the lowest rates starting at 8.90% to upto 9.40%.
2022-05-10 : Canara Bank Hikes Personal Loan Interest Rates
The bank has increased the lowest personal loan rates from 12.40% to 12.80%.

*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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