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Compare IDBI Bank vs Standard Chartered Bank Personal Loan

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Bank
Interest Rate
Interest Rate
12.00% - 13.50%
11.50% - 18.00%
Processing Fees
Processing Fees
1.00%
1.00%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 10 Lakh
₹ 1 Lakh to ₹ 50 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,224
₹ 2,199
Part Payment Charges
Part Payment Charges
Allowed after 1 month at 2% of the outstanding loan amount + applicable taxes
Allowed after 12 months at 2%
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at Nil prepayment charges
Allowed after 1 month at 5% charges before 12 months, 4% charges after 12 months
Eligible Age
Eligible Age
22 to 60 Years
23 to 58 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 25,000
Current Work Experience
Current Work Experience
12 Months
3 Months
Total Work Experience
Total Work Experience
36 Months
36 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 Standard Chartered Bank

Loan Amount IDBI Bank Standard Chartered Bank
₹ 1 Lakh ₹ 2,224 ₹ 2,199
₹ 5 Lakh ₹ 11,122 ₹ 10,996
₹ 10 Lakh ₹ 22,244 ₹ 21,993
₹ 12 Lakh ₹ 26,693 ₹ 26,391

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

Standard Chartered Bank offers lower Personal Loan EMI at Rs. 2199 for 60 Months compared to IDBI Bank with a minimum EMI of Rs. 2224 for 60 Months. In addition, average customer ratings for Standard Chartered Bank is currently at 4.5/5.0, making it a good choice for taking a Personal Loan.

How does Standard Chartered Bank Personal Loan compare with IDBI Bank Personal Loan?

It is important to make a detailed comparison of Standard Chartered 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 Standard Chartered Bank Loan is 11.50%, which is lower than the lowest interest rate of IDBI Bank at 12.00%. Hence, Standard Chartered 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 Standard Chartered Bank charges a processing fee of Upto 1.00%.
  • Standard Chartered Bank offers Personal Loan upto an amount of ₹ 50 Lakh, while IDBI Bank offers Loan upto an amount of ₹ 10 Lakh. Therefore, Standard Chartered 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. IDBI Bank and Standard Chartered Bank gives the option to close the loan after 1 months at Nil prepayment charges and 5% charges before 12 months, 4% charges after 12 months. This makes IDBI Bank a better option for Personal Loan.
  • IDBI Bank and Standard Chartered Bank allow part payment on Personal Loan after 1 months at 2% of the outstanding loan amount + applicable taxes. IDBI Bank applies a charge of 2% of the outstanding loan amount + applicable taxes and Standard Chartered Bank charges 2% on Personal Loan.
  • Standard Chartered Bank has an average customer rating of 4.5. In contrast, has an average customer rating of , based on which it is clear that Standard Chartered Bank has a high customer service focus, an easy process and a quick turnaround.

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

As per the current rates, Standard Chartered Bank offers a lower interest rate of 11.50% on loans compared to IDBI Bank, which offers a Personal Loan at 12.00%.

Know more about IDBI Bank Personal Loan

Know more about Standard Chartered Bank Personal Loan

Compare IDBI Bank Personal Loan With Other Banks

Compare Standard Chartered Bank Personal Loan With Other Banks

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Personal Loan News - Sep 2021
  • 2021-09-22 : Axis Bank Introduces Festive Offer on Personal Loan
    Axis Bank offers the lowest personal loan rate of 10.25% as a festive offer. The rates are applicable for a loan amount of 15 Lakhs and above.
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-09 : Gold Loan Soars High in 12 Months
    In the last 12 months, gold loans and credit cards have seen significant growth. Gold loans outstanding has increased by 77.4% and personal loans have jumped by 11.2% till July 2021.
  • 2021-09-02 : Axis Bank Personal Loan Rates Changed
    The personal loan rates for Axis Bank have changed for new and BT offers. The Bank is now offering personal loans for new & BT cases starting at 10.25% & 10.49%, respectively.
  • 2021-09-02 : HDFC Bank offers Special Personal Loan
    HDFC Bank has launched a personal scheme for new, and BT offers at an attractive rate. The new personal loan rates are stating at 10.25%
*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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