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Compare Personal Loan - Karur Vysya Bank vs Axis Bank

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Bank
Parameters
Interest Rate
Interest Rate
9.40% - 19.00%
10.49% - 16.75%
Processing Fees
Processing Fees
0.40%
Rs.4,999
Loan Amount
Loan Amount
₹ 50,000 to ₹ 10 Lakh
₹ 50,000 to ₹ 25 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,199
₹ 2,149
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
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 0 months at Nil prepayment charges
Allowed after 1 month at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%
Eligible Age
Eligible Age
25 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
24 Months
12 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.4/5.0
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Compare EMI of Karur Vysya Bank and Axis Bank Personal Loan

Loan Amount Karur Vysya Bank Axis Bank
₹ 1 Lakh ₹ 3,199 ₹ 2,149
₹ 5 Lakh ₹ 15,993 ₹ 10,744
₹ 10 Lakh ₹ 31,986 ₹ 21,489
₹ 12 Lakh ₹ 38,383 ₹ 25,787

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

Axis Bank offers lower Personal Loan EMI at 2149 on a Personal Loan for 60 Months as compared to Karur Vysya Bank with a minimum EMI of 3199 for 36 Months. Average customer ratings for Axis Bank is currently at 4.4/5.0 which makes it a good choice for taking a Personal Loan.

How does Karur Vysya Bank Personal Loan compare with Axis Bank Personal Loan?

It is important to do a detailed comparison of Karur Vysya 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 Karur Vysya Bank Personal Loan is 9.40%, which is lower than the lowest interest rate of Axis Bank at 10.49%. Hence, Karur Vysya Bank is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, Karur Vysya Bank charges a processing fees of 0.40% while Axis Bank charges a processing fees of Rs.4,999.
  • Axis Bank offers Personal Loan upto an amount of ₹ 25 Lakh while Karur Vysya Bank offer Personal Loan upto an amount of ₹ 10 Lakh. 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 foreclosure facility. Karur Vysya Bank gives the option to close the loan after Zero months at Nil prepayment charges and Axis Bank gives the option to close the loan after 1 months at 1-12 EMI-5%, 13-24 EMI-4%, 25-36 EMI-3% & Above 36 EMI-2%. This makes Karur Vysya Bank a better option for Personal Loan.
  • Axis Bank and Karur Vysya 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 Karur Vysya Bank charges Nil charges on Personal Loan.
  • Axis Bank has an average customer ratings of 4.4, while has an average customer rating of , based on which it is clear that Axis Bank has a high customer service focus, an easy Personal Loan process and a quick turnaround.

Which bank offers lower interest rate on Personal Loan – Karur Vysya Bank or Axis Bank?

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.40% on Personal Loan when compared to Axis Bank which offers a Personal Loan at 10.49%.

Know all about Personal Loan

Know more about Karur Vysya Bank Personal Loan

Know more about Axis Bank Personal Loan

Compare Karur Vysya Bank Personal Loan With Other Banks

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Personal Loan News - Jun 2021
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    ICICI Bank announced the launch of ICICI STACK for Corporates. This will provide customised digital banking services to companies in over 15 leading industries. ICICI STACK is going to offer digital banking solution banking solutions to corporates to seamlessly meet their banking requirements.
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  • 2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
    IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
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    The State Bank of India YONO app is going to offer fast track two-wheeler loans and express credit, a high-value personal loan. SBI is planning to expand the YONO product basket. YONO will be offering two-wheeler loans along with personal loans of small ticket size, between Rs 5-10 lakhs.
*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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