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Compare Personal Loan - RBL Bank vs IndusInd Bank

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Bank
Parameters
Interest Rate
Interest Rate
14.00% - 23.00%
10.49% - 20.00%
Processing Fees
Processing Fees
Upto 3.5%
Min 0.75% to Max 1.75%
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 20 Lakh
₹ 50,000 to ₹ 25 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,327
₹ 2,149
Part Payment Charges
Part Payment Charges
Not Allowed
Not Allowed
Foreclosure Charges
Foreclosure Charges
Allowed after 18 months at 3%-5%
Allowed after 12 months at 4%
Eligible Age
Eligible Age
25 to 60 Years
21 to 60 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 25,000
Current Work Experience
Current Work Experience
12 Months
12 Months
Total Work Experience
Total Work Experience
36 Months
24 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.5/5.0
4.5/5.0
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Compare EMI of RBL Bank and IndusInd Bank Personal Loan

Loan Amount RBL Bank IndusInd Bank
₹ 1 Lakh ₹ 2,327 ₹ 2,149
₹ 5 Lakh ₹ 11,634 ₹ 10,744
₹ 10 Lakh ₹ 23,268 ₹ 21,489
₹ 12 Lakh ₹ 27,922 ₹ 25,787

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

IndusInd Bank offers lower Personal Loan EMI at 2149 on a Personal Loan for 60 Months as compared to RBL Bank with a minimum EMI of 2327 for 60 Months. Average customer ratings for IndusInd Bank is currently at 4.5/5.0 which makes it a good choice for taking a Personal Loan.

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

It is important to do a detailed comparison of IndusInd 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 IndusInd Bank Personal Loan is 10.49%, which is lower than the lowest interest rate of RBL Bank at 14.00%. Hence, IndusInd Bank is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, RBL Bank charges a processing fees of Upto 3.5% while IndusInd Bank charges a processing fees of Min 0.75% to Max 1.75%.
  • IndusInd Bank offers Personal Loan upto an amount of ₹ 25 Lakh while RBL Bank offer Personal Loan upto an amount of ₹ 20 Lakh. IndusInd 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 foreclosure facility. IndusInd Bank gives the option to close the loan after 12 months at 4% and RBL Bank gives the option to close the loan after 18 months at 3%-5%. This makes IndusInd Bank a better option for Personal Loan.
  • IndusInd Bank with an average customer ratings of 4.5 is equally comparable to RBL Bank with an average customer rating of 4.5. Hence, the customer can expect the same kind of service levels from these banks.

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

As per the current rates, IndusInd Bank offers a lower interest rate of 10.49% on Personal Loan when compared to RBL Bank which offers a Personal Loan at 14.00%.

Know all about Personal Loan

Know more about RBL Bank Personal Loan

Know more about IndusInd Bank Personal Loan

Compare RBL Bank Personal Loan With Other Banks

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Personal Loan News - Jun 2021
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    IOB closed the last fiscal with a net profit of Rs.831 crore as against a net loss of about Rs.8,527 crore. The total income for the year ended 31.03.2021 stands at Rs.22,525 crore as against Rs.20,766 crore for FY20. IOB plans to come up with Prompt Corrective Action to focus on loan recovery, low-cost deposits and less capital consuming advances.
  • 2021-06-14 : IDFC First Bank’s helping hand for the covid-affected families of employees
    To help the families of employees who lost their lives due to covid, IDFC First Bank is offering compensation of upto 4 times of the CTC along with a salary of two years. Along with that, the bank is also wavering the loans of such employees to reduce the burden on the employees’ family.
  • 2021-06-11 : YONO to offer fast-tracked two-wheeler loans and express credit
    The State Bank of India YONO app is going to offer fast track two-wheeler loans and express credit, a high-value personal loan. SBI is planning to expand the YONO product basket. YONO will be offering two-wheeler loans along with personal loans of small ticket size, between Rs 5-10 lakhs.
*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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