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Compare IndusInd Bank vs Corporation Bank Personal Loan

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Bank
Interest Rate
Interest Rate
10.49% - 20.00%
8.90% - 13.00%
Processing Fees
Processing Fees
Min 0.75% to Max 1.75%
1.5%, Min Rs. 500
Loan Amount
Loan Amount
₹ 50,000 to ₹ 25 Lakh
₹ 1 Lakh to ₹ 2.50 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,149
₹ 3,175
Part Payment Charges
Part Payment Charges
Not Allowed
Allowed after 0 months at Nil prepayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at 4%
Allowed after 0 months at Nil prepayment charges
Eligible Age
Eligible Age
21 to 60 Years
21 to 58 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 20,000
Current Work Experience
Current Work Experience
12 Months
NA
Total Work Experience
Total Work Experience
24 Months
NA
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
4.5/5.0
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Compare Personal Loan EMI of IndusInd Bank and Corporation Bank

Loan Amount IndusInd Bank Corporation Bank
₹ 1 Lakh ₹ 2,149 ₹ 3,175
₹ 5 Lakh ₹ 10,744 ₹ 15,877
₹ 10 Lakh ₹ 21,489 ₹ 31,753
₹ 12 Lakh ₹ 25,787 ₹ 38,104

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

IndusInd Bank offers lower Personal Loan EMI at Rs. 2149 for 60 Months compared to Corporation Bank with a minimum EMI of Rs. 3175 for 36 Months. In addition, average customer ratings for IndusInd Bank is currently at 4.5/5.0, making it a good choice for taking a Personal Loan.

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

It is important to make a detailed comparison of Corporation Bank and IndusInd 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 Corporation Bank Loan is 8.90%, which is lower than the lowest interest rate of IndusInd Bank at 10.49%. Hence, Corporation Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, IndusInd Bank charges a processing fee of Min 0.75% to Max 1.75%, while Corporation Bank charges a processing fee of Upto 1.5%, Min Rs. 500.
  • IndusInd Bank offers Personal Loan upto an amount of ₹ 25 Lakh, while Corporation Bank offers Loan upto an amount of ₹ 2.50 Lakh. Therefore, IndusInd 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. Corporation Bank gives the option to close the loan after Zero months at Nil prepayment charges and IndusInd Bank gives the option to close the loan after 12 months at 4%. This makes Corporation Bank a better option for Personal Loan.
  • Corporation Bank allows part payment on Personal Loan after Zero months at Nil charges, while IndusInd Bank does not offer a part payment facility. This makes Corporation Bank a better option for instant loan requirements.
  • Corporation Bank with an average customer rating of 4.5 is equally comparable to IndusInd Bank with an average customer rating of 4.5. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Personal Loan – Corporation Bank or IndusInd Bank?

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

Know more about IndusInd Bank Personal Loan

Know more about Corporation Bank Personal Loan

Compare IndusInd Bank Personal Loan With Other Banks

Compare Corporation 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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