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Compare IDBI Bank vs Axis Bank Personal Loan

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Bank
Interest Rate
Interest Rate
12.00% - 13.50%
10.75% - 17.25%
Processing Fees
Processing Fees
1.00%
Rs.4,999
Loan Amount
Loan Amount
₹ 50,000 to ₹ 10 Lakh
₹ 50,000 to ₹ 25 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,224
₹ 2,162
Part Payment Charges
Part Payment Charges
Allowed after 1 month at 2% of the outstanding loan amount + applicable taxes
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 1 month at Nil prepayment charges
Allowed after 1 month at For Loan Amt Approved of 10 Lacs and above-- 0% FC charges after 12 EMIs if closure through OWN FUNDS,1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
Eligible Age
Eligible Age
22 to 60 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 25,000
Current Work Experience
Current Work Experience
12 Months
1 Month
Total Work Experience
Total Work Experience
36 Months
12 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
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Compare Personal Loan EMI of IDBI Bank and Axis Bank

Loan Amount IDBI Bank Axis Bank
₹ 1 Lakh ₹ 2,224 ₹ 2,162
₹ 5 Lakh ₹ 11,122 ₹ 10,809
₹ 10 Lakh ₹ 22,244 ₹ 21,618
₹ 12 Lakh ₹ 26,693 ₹ 25,942

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

Axis Bank offers lower Personal Loan EMI at Rs. 2162 for 60 Months compared to IDBI Bank with a minimum EMI of Rs. 2224 for 60 Months. In addition, average customer ratings for Axis Bank is currently at 4.5/5.0, making it a good choice for taking a Personal Loan.

How does Axis Bank Personal Loan compare with IDBI Bank Personal Loan?

It is important to make a detailed comparison of Axis Bank and IDBI 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 Axis Bank Loan is 10.75%, which is lower than the lowest interest rate of IDBI Bank at 12.00%. Hence, Axis Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, IDBI Bank charges a processing fee of 1.00%, while Axis Bank charges a processing fee of Upto Rs.4,999.
  • Axis Bank offers Personal Loan upto an amount of ₹ 25 Lakh, while IDBI Bank offers Loan upto an amount of ₹ 10 Lakh. Therefore, Axis 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. Axis Bank and IDBI Bank gives the option to close the loan after 1 months at For Loan Amt Approved of 10 Lacs and above-- 0% FC charges after 12 EMIs if closure through OWN FUNDS,1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2% and Nil prepayment charges. This makes Axis Bank a better option for Personal Loan.
  • Axis Bank and IDBI Bank allow 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%. Axis Bank applies a charge of 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2% and IDBI Bank charges 2% of the outstanding loan amount + applicable taxes on Personal Loan.
  • Axis Bank has an average customer rating of 4.5. In contrast, has an average customer rating of , based on which it is clear that Axis Bank has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Personal Loan – Axis Bank or IDBI Bank?

As per the current rates, Axis Bank offers a lower interest rate of 10.75% on loans compared to IDBI Bank, which offers a Personal Loan at 12.00%.

Know more about IDBI Bank Personal Loan

Know more about Axis Bank Personal Loan

Compare IDBI Bank Personal Loan With Other Banks

Compare Axis Bank 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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