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Compare Personal Loan - Karur Vysya Bank vs Axis Finance

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Bank
Parameters
Interest Rate
Interest Rate
9.40% - 19.00%
13.00% - 18.00%
Processing Fees
Processing Fees
0.40%
2%
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
₹ 2,275
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 3 months at Nil Part-Payment Charges
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 6 months at Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period
Eligible Age
Eligible Age
25 to 60 Years
21 to 58 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 25,000
Current Work Experience
Current Work Experience
12 Months
12 Months
Total Work Experience
Total Work Experience
24 Months
24 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 Finance Personal Loan

Loan Amount Karur Vysya Bank Axis Finance
₹ 1 Lakh ₹ 3,199 ₹ 2,275
₹ 5 Lakh ₹ 15,993 ₹ 11,377
₹ 10 Lakh ₹ 31,986 ₹ 22,753
₹ 12 Lakh ₹ 38,383 ₹ 27,304

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

Axis Finance offers lower Personal Loan EMI at 2275 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 Finance 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 Finance 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 Finance at 13.00%. 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 Finance charges a processing fees of 2%.
  • Axis Finance offers Personal Loan upto an amount of ₹ 25 Lakh while Karur Vysya Bank offer Personal Loan upto an amount of ₹ 10 Lakh. Axis Finance 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 Finance gives the option to close the loan after 6 months at Nil Foreclosure Charges. 2% if foreclosure is done within the lock-in period. This makes Karur Vysya Bank a better option for Personal Loan.
  • Axis Finance and Karur Vysya Bank allow part payment on Personal Loan after 3 months at Nil charges. Axis Finance applies a charge of Nil charges and Karur Vysya Bank charges Nil charges on Personal Loan.
  • Axis Finance has an average customer ratings of 4.4, while has an average customer rating of , based on which it is clear that Axis Finance 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 Finance?

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.40% on Personal Loan when compared to Axis Finance which offers a Personal Loan at 13.00%.

Know all about Personal Loan

Know more about Karur Vysya Bank Personal Loan

Know more about Axis Finance Personal Loan

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Personal Loan News - Jun 2021
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
  • 2021-06-09 : Canara Bank announces personal loan scheme
    Under the ‘Canara Suraksha personal loan scheme’, the bank is offering loans from ₹25,000 to ₹5 lakh to financially assist the customers for covid-related treatment. The moratorium is of six months and the scheme will be valid till September 30, 2021.
  • 2021-06-09 : Healthcare credit facility announced by Canara Bank
    Under the ‘Canara Chikitsa healthcare credit facility’, Canara bank will offer loans from ₹10 lakh to ₹50 crores to all the units engaged in servicing the healthcare. Valid till March 31, 2022, the loan will be available at concessional rates with a tenure of upto 10 years
  • 2021-06-08 : Unsecured personal loan of upto Rs 5 lakh to be made available by the SBI
    Under the Emergency Credit Line Guarantee Scheme (ECLGS) SBI is offering a collateral-free loan up to ₹5 lakh, allowing an unsecured ‘covid personal loan’ for covid treatment.
  • 2021-06-01 : Karur Vysya Bank posted 24% growth in Q4 net
    Karur Vysya Bank posted a 24% rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The lender credit growth during the year was higher at 8.87% and gross advances reached Rs 52,820 crore.
*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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