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Compare Muthoot vs RBL Bank Personal Loan

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Bank
Interest Rate
Interest Rate
14.00% - 24.00%
14.00% - 23.00%
Processing Fees
Processing Fees
2.5-3.5%
Upto 3.5%
Loan Amount
Loan Amount
₹ 50,000 to ₹ 15 Lakh
₹ 1 Lakh to ₹ 20 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,327
₹ 2,327
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 18 months at 3%-5%
Eligible Age
Eligible Age
26 to 58 Years
25 to 60 Years
Minimum Income
Minimum Income
₹ 10,000
₹ 25,000
Current Work Experience
Current Work Experience
NA
12 Months
Total Work Experience
Total Work Experience
NA
36 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
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Compare Personal Loan EMI of Muthoot and RBL Bank

Loan Amount Muthoot RBL Bank
₹ 1 Lakh ₹ 2,327 ₹ 2,327
₹ 5 Lakh ₹ 11,634 ₹ 11,634
₹ 10 Lakh ₹ 23,268 ₹ 23,268
₹ 12 Lakh ₹ 27,922 ₹ 27,922

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

Muthoot and RBL Bank offer Personal Loan at the same rate of interest starting from 14.00%. Lowest EMI of Muthoot is Rs. 2327 for a maximum tenure of 60 Months. Lowest EMI of RBL Bank is Rs. 2327 for a maximum tenure of 60 Months.

How does Muthoot Personal Loan compare with RBL Bank Personal Loan?

It is important to make a detailed comparison of Muthoot and RBL Bank 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 Muthoot and RBL Bank Loan is 14.00%. Hence, both banks are at par in terms of interest rate on Personal Loan
  • Compared to other Personal Loan charges such as processing fees, Muthoot charges a processing fee of 2.5-3.5%, while RBL Bank charges a processing fee of Upto Upto 3.5%.
  • RBL Bank offers Personal Loan upto an amount of ₹ 20 Lakh, while Muthoot offers Loan upto an amount of ₹ 15 Lakh. Therefore, RBL 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 the foreclosure facility. Muthoot gives the option to close the loan after Zero months at Nil prepayment charges and RBL Bank gives the option to close the loan after 18 months at 3%-5%. This makes Muthoot a better option for Personal Loan.
  • Muthoot allows part payment on Personal Loan after Zero months at Nil charges, while RBL Bank does not offer a part payment facility. This makes Muthoot a better option for instant loan requirements.
  • RBL Bank has an average customer rating of 4.5. In contrast, has an average customer rating of , based on which it is clear that RBL Bank has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Personal Loan – Muthoot or RBL Bank?

The lowest interest rate for both Muthoot and RBL Bank on loans currently starts from 14.00%. Hence, both banks are a good choice for potential borrowers.

Know more about Muthoot Personal Loan

Know more about RBL Bank Personal Loan

Compare Muthoot Personal Loan With Other Banks

Compare RBL Bank Personal Loan With Other Banks

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Personal Loan News - Sep 2021
  • 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.
  • 2021-09-02 : Axis Bank Personal Loan Rates Changed
    The personal loan rates for Axis Bank have changed for new and BT offers. The Bank is now offering personal loans for new & BT cases starting at 10.25% & 10.49%, respectively.
  • 2021-09-02 : HDFC Bank offers Special Personal Loan
    HDFC Bank has launched a personal scheme for new, and BT offers at an attractive rate. The new personal loan rates are stating at 10.25%
  • 2021-09-01 : Mortgage lending has increased GDP by 11%
    National Housing Bank has informed that mortgage lending in India has increased India’s Gross Domestic Product (GDP) by 11%, an economy worth Rs 27 trillion. 65% of the loans are provided by banks and the rest 35% by NBFCs.
*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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