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Compare Personal Loan - Karur Vysya Bank vs Canara Bank

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Bank
Parameters
Interest Rate
Interest Rate
9.40% - 19.00%
12.40% - 13.90%
Processing Fees
Processing Fees
0.40%
0.50%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 10 Lakh
₹ 1 Lakh to ₹ 3 Lakh
Loan Tenure
Loan Tenure
12 to 36 Months
12 to 48 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 3,199
₹ 2,653
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 1 month at Nil prepayment charges
Eligible Age
Eligible Age
25 to 60 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 15,000
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)
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Compare EMI of Karur Vysya Bank and Canara Bank Personal Loan

Loan Amount Karur Vysya Bank Canara Bank
₹ 1 Lakh ₹ 3,199 ₹ 2,653
₹ 5 Lakh ₹ 15,993 ₹ 13,265
₹ 10 Lakh ₹ 31,986 ₹ 26,531
₹ 12 Lakh ₹ 38,383 ₹ 31,837

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

Canara Bank offers lower Personal Loan EMI at 2653 on a Personal Loan for 48 Months as compared to Karur Vysya Bank with a minimum EMI of 3199 for 36 Months. Average customer ratings for Canara Bank is currently at /5.0 which makes it a good choice for taking a Personal Loan.

How does Karur Vysya Bank Personal Loan compare with Canara 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 Canara Bank at 12.40%. 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 Canara Bank charges a processing fees of 0.50%.
  • Karur Vysya Bank offers Personal Loan upto an amount of ₹ 10 Lakh while Canara Bank offer Personal Loan upto an amount of ₹ 3 Lakh. Karur Vysya 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 Canara Bank gives the option to close the loan after 1 months at Nil prepayment charges. This makes Karur Vysya Bank a better option for Personal Loan.
  • Karur Vysya Bank allows part payment on Personal Loan after Zero months at Nil charges, while Canara Bank does not offer part payment facility on Personal Loan. This makes Karur Vysya Bank a better option for Personal Loan.
  • with an average customer ratings of is equally comparable to with an average customer rating of . Hence, the customer can expect the same kind of service levels from these banks.

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

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.40% on Personal Loan when compared to Canara Bank which offers a Personal Loan at 12.40%.

Know all about Personal Loan

Know more about Karur Vysya Bank Personal Loan

Know more about Canara Bank Personal Loan

Compare Karur Vysya 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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