Compare Personal Loan - Karur Vysya Bank vs SBI

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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 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 Axis Finance
Parameters
Interest Rate	Interest Rate 9.40% - 19.00%	9.60% - 15.65%
Processing Fees	Processing Fees 0.40%	1.00%
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 ₹ 3,199	₹ 1,832
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 EMI of Karur Vysya Bank and SBI Personal Loan

Loan Amount	Karur Vysya Bank	SBI
₹ 1 Lakh	₹ 3,199	₹ 1,832
₹ 5 Lakh	₹ 15,993	₹ 9,162
₹ 10 Lakh	₹ 31,986	₹ 18,325
₹ 12 Lakh	₹ 38,383	₹ 21,990

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

SBI offers lower Personal Loan EMI at 1832 on a Personal Loan for 72 Months as compared to Karur Vysya Bank with a minimum EMI of 3199 for 36 Months. Average customer ratings for SBI is currently at 3.6/5.0 which makes 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 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 SBI at 9.60%. 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 SBI charges a processing fees of 1.00%.
SBI offers Personal Loan upto an amount of ₹ 15 Lakh while Karur Vysya Bank offer Personal Loan upto an amount of ₹ 10 Lakh. 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 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 part payment facility on Personal Loan. This makes Karur Vysya Bank a better option for Personal Loan.
SBI has an average customer ratings of 3.6, while has an average customer rating of , based on which it is clear that SBI 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 SBI?

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.40% on Personal Loan when compared to SBI which offers a Personal Loan at 9.60%.

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Personal Loan News - Jul 2021

2021-07-16 : Amalgamation of Bank of Baroda, erstwhile Vijaya Bank and erstwhile Dena Bank
Bank of Baroda, on its website, stated that the IFSC codes of the erstwhile Vijaya Bank and Dena Bank were discontinued on March 1, 2021. Customers have been asked to apply for cheque books with the new MICR code at the earliest.
2021-07-16 : UBI update on change in IFSC code for merged banks - Andhra Bank and Corporation Bank
Union Bank of India (UBI) on Friday said the IFSC codes of the erstwhile e-Andhra Bank and e-Corporation Bank branches will change with effect from July 1, 2021. Customers of the erstwhile banks will have to get new cheque books with changed IFSC and MICR codes
2021-07-16 : Bandhan Bank total loans rise 8% to ₹80,128 crore in Q1, deposits up 28%
Bandhan Bank witnessed an 8% rise in its loans and advances to ₹80,128 crores in the June quarter this fiscal. The loans and advances during the same period of 2020 stood at ₹74,331 crore. Compared sequentially, it was down by 8% from ₹87,043 crores in the March quarter. Total deposits grew by 28% year-on-year to ₹77,336 crores, while the CASA (current account and savings account) deposits jumped by 48% to ₹33,197 crores in the first quarter of 2021-22.
2021-07-15 : Indian Bank merger with Allahabad Bank - Change in IFSC
The Indian Bank, which has merged with the Allahabad Bank, carried out a software migration over the weekend. As the merger got completed, new rules had been issued by the bank with regard to its services. Existing customers were asked on July 1 to get a new IFSC code to carry out online transactions smoothly.
2021-07-15 : OBC & UBI merged with PNB
After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.

*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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