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Compare Personal Loan - Muthoot vs Bank of Maharashtra

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Interest Rate
Interest Rate
14.00% - 24.00%
9.55% - 12.90%
Processing Fees
Processing Fees
1.00%, Min Rs. 1,000
Loan Amount
Loan Amount
₹ 50,000 to ₹ 15 Lakh
₹ 50,000 to ₹ 20 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 84 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,327
₹ 1,637
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
26 to 58 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 10,000
₹ 20,000
Current Work Experience
Current Work Experience
0 Months
12 Months
Total Work Experience
Total Work Experience
0 Months
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare EMI of Muthoot and Bank of Maharashtra Personal Loan

Loan Amount Muthoot Bank of Maharashtra
₹ 1 Lakh ₹ 2,327 ₹ 1,637
₹ 5 Lakh ₹ 11,634 ₹ 8,185
₹ 10 Lakh ₹ 23,268 ₹ 16,370
₹ 12 Lakh ₹ 27,922 ₹ 19,644

Which is a better bank for Personal Loan – Bank of Maharashtra or Muthoot?

Bank of Maharashtra offers lower Personal Loan EMI at 1637 on a Personal Loan for 84 Months as compared to Muthoot with a minimum EMI of 2327 for 60 Months. Average customer ratings for Bank of Maharashtra is currently at /5.0 which makes it a good choice for taking a Personal Loan.

How does Bank of Maharashtra Personal Loan compare with Muthoot Personal Loan?

It is important to do a detailed comparison of Bank of Maharashtra 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 Bank of Maharashtra Personal Loan is 9.55%, which is lower than the lowest interest rate of Muthoot at 14.00%. Hence, Bank of Maharashtra is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, Muthoot charges a processing fees of 2.5-3.5% while Bank of Maharashtra charges a processing fees of 1.00%, Min Rs. 1,000.
  • Bank of Maharashtra offers Personal Loan upto an amount of ₹ 20 Lakh while Muthoot offer Personal Loan upto an amount of ₹ 15 Lakh. Bank of Maharashtra 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. Muthoot gives the option to close the loan after Zero months at Nil prepayment charges and Bank of Maharashtra gives the option to close the loan after 1 months at Nil prepayment charges. This makes Muthoot a better option for Personal Loan.
  • Muthoot allows part payment on Personal Loan after Zero months at Nil charges, while Bank of Maharashtra does not offer part payment facility on Personal Loan. This makes Muthoot 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 – Bank of Maharashtra or Muthoot?

As per the current rates, Bank of Maharashtra offers a lower interest rate of 9.55% on Personal Loan when compared to Muthoot which offers a Personal Loan at 14.00%.

Know all about Personal Loan

Know more about Muthoot Personal Loan

Know more about Bank of Maharashtra Personal Loan

Compare Muthoot Personal Loan With Other Banks

Compare Bank of Maharashtra 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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