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Compare IndusInd Bank vs RBL Bank Personal Loan

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Bank
Interest Rate
Interest Rate
10.49% - 20.00%
14.00% - 23.00%
Processing Fees
Processing Fees
Min 0.75% to Max 1.75%
Upto 3.5%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 25 Lakh
₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,149
₹ 2,327
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 12 months at 4%
Allowed after 18 months at 3%-5%
Eligible Age
Eligible Age
21 to 60 Years
25 to 60 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 25,000
Current Work Experience
Current Work Experience
12 Months
12 Months
Total Work Experience
Total Work Experience
24 Months
36 Months
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 RBL Bank

Loan Amount IndusInd Bank RBL Bank
₹ 1 Lakh ₹ 2,149 ₹ 2,327
₹ 5 Lakh ₹ 10,744 ₹ 11,634
₹ 10 Lakh ₹ 21,489 ₹ 23,268
₹ 12 Lakh ₹ 25,787 ₹ 27,922

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

IndusInd Bank offers lower Personal Loan EMI at Rs. 2149 for 60 Months compared to RBL Bank with a minimum EMI of Rs. 2327 for 60 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 IndusInd Bank Personal Loan compare with RBL Bank Personal Loan?

It is important to make a detailed comparison of IndusInd Bank and RBL 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 IndusInd Bank Loan is 10.49%, which is lower than the lowest interest rate of RBL Bank at 14.00%. Hence, IndusInd 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 RBL Bank charges a processing fee of Upto Upto 3.5%.
  • IndusInd Bank offers Personal Loan upto an amount of ₹ 25 Lakh, while RBL Bank offers Loan upto an amount of ₹ 20 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. IndusInd Bank gives the option to close the loan after 12 months at 4% and RBL Bank gives the option to close the loan after 18 months at 3%-5%. This makes IndusInd Bank a better option for Personal Loan.
  • IndusInd Bank with an average customer rating of 4.5 is equally comparable to RBL 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 – IndusInd Bank or RBL Bank?

As per the current rates, IndusInd Bank offers a lower interest rate of 10.49% on loans compared to RBL Bank, which offers a Personal Loan at 14.00%.

Know more about IndusInd Bank Personal Loan

Know more about RBL Bank Personal Loan

Compare IndusInd Bank Personal Loan With Other Banks

Compare RBL Bank Personal Loan With Other Banks

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Personal Loan News - Oct 2022
  • 2022-09-12 : Union Bank of India hikes interest rates - home, car EMIs set to rise
    Union Bank of India has increased its marginal cost-based lending rate (MCLR) in the range of 0.05 per cent to 0.35 per cent, which would make the loans from the bank more expensive. MCLR rates for overnight and one-month tenures to 7.00 per cent and 7.15 per cent, thus increasing them by 5 bps. For the three-month tenure, the rates are the same as before and are at 7.25 per cent.
  • 2022-09-09 : HDFC Bank to introduce 10-second personal loan service
    India’s largest private sector lender HDFC Bank is aiming at introducing the 10-seconds loan service for everyone including those who do not have an account with the bank. The bank has been a paradigm pioneer in 10-second loans for existing customers and has been able to deliver this over the past six years.
  • 2022-09-07 : Kotak Mahindra Bank Goes Live with Client Onboarding via Face Authentication
    The bank has become the first to enable client onboarding via face authentication and does not require an additional device except the mobile phone.
  • 2022-09-07 : HDFC Bank Expands Personal Loan in 10 Seconds
    The bank will offer Personal Loan in 30 seconds to all, including self-employed and non-existing customers of HDFC Bank.
  • 2022-08-18 : HDFC bank opens its first all women branch in Kerela`s kozhikode.
    HDFC has opened its first all-women branch in Kozhikode. The branch, located in Cherootty Road, the hub of traders in the district, will have 4 women bankers. HDFC Bank is driving diversity and inclusion within the organization with a special focus on enhancing gender diversity.
*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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