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Compare Muthoot vs PNB Personal Loan

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Bank
Interest Rate
Interest Rate
14.00% - 24.00%
8.70% - 14.25%
Processing Fees
Processing Fees
2.5-3.5%
1.8% + Taxes
Loan Amount
Loan Amount
₹ 50,000 to ₹ 15 Lakh
₹ 50,000 to ₹ 15 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,327
₹ 2,061
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 0 months at Nil prepayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 0 months at Nil prepayment charges
Eligible Age
Eligible Age
26 to 58 Years
21 to 58 Years
Minimum Income
Minimum Income
₹ 10,000
₹ 30,000
Current Work Experience
Current Work Experience
NA
NA
Total Work Experience
Total Work Experience
NA
NA
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Personal Loan EMI of Muthoot and PNB

Loan Amount Muthoot PNB
₹ 1 Lakh ₹ 2,327 ₹ 2,061
₹ 5 Lakh ₹ 11,634 ₹ 10,307
₹ 10 Lakh ₹ 23,268 ₹ 20,613
₹ 12 Lakh ₹ 27,922 ₹ 24,736

Which is a better bank for Personal Loan – PNB or Muthoot?

PNB offers lower Personal Loan EMI at Rs. 2061 for 60 Months compared to Muthoot with a minimum EMI of Rs. 2327 for 60 Months. In addition, average customer ratings for PNB is currently at /5.0, making it a good choice for taking a Personal Loan.

How does PNB Personal Loan compare with Muthoot Personal Loan?

It is important to make a detailed comparison of PNB and Muthoot 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 PNB Loan is 8.70%, which is lower than the lowest interest rate of Muthoot at 14.00%. Hence, PNB is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Muthoot charges a processing fee of 2.5-3.5%, while PNB charges a processing fee of Upto 1.8% + Taxes.
  • One feature that makes Personal Loan a better option is the foreclosure facility. Muthoot and PNB gives the option to close the loan after Zero months at Nil prepayment charges and Nil prepayment charges. This makes Muthoot a better option for Personal Loan.
  • Muthoot and PNB allow part payment on Personal Loan after Zero months at Nil charges. Muthoot applies a charge of Nil charges and PNB charges Nil charges on Personal Loan.
  • with an average customer rating 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 a lower interest rate on Personal Loan – PNB or Muthoot?

As per the current rates, PNB offers a lower interest rate of 8.70% on loans compared to Muthoot, which offers a Personal Loan at 14.00%.

Know more about Muthoot Personal Loan

Know more about PNB Personal Loan

Compare Muthoot Personal Loan With Other Banks

Compare PNB Personal Loan With Other Banks

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Personal Loan News - Sep 2021
  • 2021-09-24 : Bank of Baroda Revises Personal Loan Rates
    The lowest personal loan rates of Bank of Baroda starts at 10.00%. Earlier, the bank was providing a personal loan at a minimum rate of 10.50%.
  • 2021-09-24 : PNB Reduces Personal Lending Rates
    Punjab National Bank has decreased the personal loan rates by 25 points basis. The new personal loan rate now stands at 8.70%.
  • 2021-09-22 : Axis Bank Introduces Festive Offer on Personal Loan
    Axis Bank offers the lowest personal loan rate of 10.25% as a festive offer. The rates are applicable for a loan amount of 15 Lakhs and above.
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-09 : Gold Loan Soars High in 12 Months
    In the last 12 months, gold loans and credit cards have seen significant growth. Gold loans outstanding has increased by 77.4% and personal loans have jumped by 11.2% till July 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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