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Compare Personal Loan - IndusInd Bank vs Indian Bank

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Bank
Parameters
Interest Rate
Interest Rate
10.49% - 20.00%
9.05% - 13.65%
Processing Fees
Processing Fees
Min 0.75% to Max 1.75%
N.A
Loan Amount
Loan Amount
₹ 50,000 to ₹ 25 Lakh
₹ 50,000 to ₹ 5 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,149
₹ 3,182
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
0 Months
Total Work Experience
Total Work Experience
24 Months
0 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
4.5/5.0
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Compare EMI of IndusInd Bank and Indian Bank Personal Loan

Loan Amount IndusInd Bank Indian Bank
₹ 1 Lakh ₹ 2,149 ₹ 3,182
₹ 5 Lakh ₹ 10,744 ₹ 15,912
₹ 10 Lakh ₹ 21,489 ₹ 31,823
₹ 12 Lakh ₹ 25,787 ₹ 38,188

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

IndusInd Bank offers lower Personal Loan EMI at 2149 on a Personal Loan for 60 Months as compared to Indian Bank with a minimum EMI of 3182 for 36 Months. Average customer ratings for IndusInd Bank is currently at 4.5/5.0 which makes it a good choice for taking a Personal Loan.

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

It is important to do a detailed comparison of Indian 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 Indian Bank Personal Loan is 9.05%, which is lower than the lowest interest rate of IndusInd Bank at 10.49%. Hence, Indian Bank is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, IndusInd Bank charges a processing fees of Min 0.75% to Max 1.75% while Indian Bank charges a processing fees of N.A.
  • IndusInd Bank offers Personal Loan upto an amount of ₹ 25 Lakh while Indian Bank offer Personal Loan upto an amount of ₹ 5 Lakh. 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 foreclosure facility. Indian 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 Indian Bank a better option for Personal Loan.
  • Indian Bank allows part payment on Personal Loan after Zero months at Nil charges, while IndusInd Bank does not offer part payment facility on Personal Loan. This makes Indian Bank a better option for Personal Loan.
  • Indian Bank with an average customer ratings 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 lower interest rate on Personal Loan – Indian Bank or IndusInd Bank?

As per the current rates, Indian Bank offers a lower interest rate of 9.05% on Personal Loan when compared to IndusInd Bank which offers a Personal Loan at 10.49%.

Know all about Personal Loan

Know more about IndusInd Bank Personal Loan

Know more about Indian Bank Personal Loan

Compare IndusInd Bank Personal Loan With Other Banks

Compare Indian Bank Personal Loan With Other Banks

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*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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