Compare Karur Vysya Bank vs SBI Personal Loan

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Bank	HDFC Bank ICICI Bank Bajaj Finserv IDFC First Bank Axis Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Muthoot Syndicate Bank Union Bank of India Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Federal Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Yes Bank Karur Vysya Bank Cashe Axis Finance	SBI HDFC Bank ICICI Bank Bajaj Finserv IDFC First Bank Axis Bank Tata Capital Fullerton India IndusInd Bank Kotak Bank RBL Bank IIFL HDB Financial Syndicate Bank Muthoot Union Bank of India Canara Bank Bank of Maharashtra Andhra Bank Allahabad Bank Federal Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Yes Bank Cashe Axis Finance
Interest Rate	Interest Rate 8.70% - 19.00%	10.00% - 13.00%
Processing Fees	Processing Fees 0.40%	Nil
Loan Amount	Loan Amount ₹ 50,000 to ₹ 10 Lakh	₹ 50,000 to ₹ 15 Lakh
Loan Tenure	Loan Tenure 12 to 36 Months	6 to 72 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 3,166	₹ 1,853
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 6 months at 3%
Eligible Age	Eligible Age 25 to 60 Years	21 to 58 Years
Minimum Income	Minimum Income ₹ 20,000	₹ 24,000
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)	3.6/5.0

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Compare Personal Loan EMI of Karur Vysya Bank and SBI

Loan Amount	Karur Vysya Bank	SBI
₹ 1 Lakh	₹ 3,166	₹ 1,853
₹ 5 Lakh	₹ 15,830	₹ 9,263
₹ 10 Lakh	₹ 31,660	₹ 18,526
₹ 12 Lakh	₹ 37,992	₹ 22,231

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

SBI offers lower Personal Loan EMI at Rs. 1853 for 72 Months compared to Karur Vysya Bank with a minimum EMI of Rs. 3166 for 36 Months. In addition, average customer ratings for SBI is currently at 3.6/5.0, making it a good choice for taking a Personal Loan.

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

It is important to make a detailed comparison of Karur Vysya Bank and SBI 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 Karur Vysya Bank Loan is 8.70%, which is lower than the lowest interest rate of SBI at 10.00%. Hence, Karur Vysya Bank is offering a cheaper loan option.
Compared to other Personal Loan charges such as processing fees, Karur Vysya Bank charges a processing fee of 0.40%, while SBI charges a processing fee of Upto Nil.
SBI offers Personal Loan upto an amount of ₹ 15 Lakh, while Karur Vysya Bank offers Loan upto an amount of ₹ 10 Lakh. Therefore, SBI 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. Karur Vysya Bank gives the option to close the loan after Zero months at Nil prepayment charges and SBI gives the option to close the loan after 6 months at 3%. 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 SBI does not offer a part payment facility. This makes Karur Vysya Bank a better option for instant loan requirements.
SBI has an average customer rating of 3.6. In contrast, has an average customer rating of , based on which it is clear that SBI has a high customer service focus, an easy process and a quick turnaround.

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

As per the current rates, Karur Vysya Bank offers a lower interest rate of 8.70% on loans compared to SBI, which offers a Personal Loan at 10.00%.

Know more about Karur Vysya Bank Personal Loan

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Compare Karur Vysya Bank Personal Loan With Other Banks

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Personal Loan News - Aug 2022

2022-05-13 : Punjab National Bank Increases Personal Loan Rates
The bank has increased the rates by 40 basis points, and after the revision, the bank offers personal loans starting from 8.85% to 14.85%.
2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
2022-05-12 : Indian Bank Revises Personal Loan Rates
Indian Bank has increased the rates on personal loans, and as a result, the bank offers the lowest rates starting at 8.90% to upto 9.40%.
2022-05-10 : Canara Bank Hikes Personal Loan Interest Rates
The bank has increased the lowest personal loan rates from 12.40% to 12.80%.

*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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