Compare Personal Loan - Standard Chartered Bank vs Federal Bank

Download Comparison

Bank	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 Karur Vysya Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Standard Chartered Bank Yes 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 Yes Bank Karur Vysya Bank Axis Finance
Parameters
Interest Rate	Interest Rate 11.50% - 18.00%	10.49% - 17.99%
Processing Fees	Processing Fees 1.00%	0.5%, Min Rs. 500
Loan Amount	Loan Amount ₹ 1 Lakh to ₹ 50 Lakh	₹ 50,000 to ₹ 10 Lakh
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 48 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,199	₹ 2,560
Part Payment Charges	Part Payment Charges Allowed after 12 months at 2%	Allowed after 0 months at Nil prepayment charges
Foreclosure Charges	Foreclosure Charges Allowed after 1 month at 5% charges before 12 months, 4% charges after 12 months	Allowed after 0 months at Nil prepayment charges
Eligible Age	Eligible Age 23 to 58 Years	21 to 55 Years
Minimum Income	Minimum Income ₹ 25,000	₹ 50,000
Current Work Experience	Current Work Experience 3 Months	36 Months
Total Work Experience	Total Work Experience 36 Months	0 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews) 4.4/5.0	4.4/5.0

Add Bank

Compare EMI of Standard Chartered Bank and Federal Bank Personal Loan

Loan Amount	Standard Chartered Bank	Federal Bank
₹ 1 Lakh	₹ 2,199	₹ 2,560
₹ 5 Lakh	₹ 10,996	₹ 12,799
₹ 10 Lakh	₹ 21,993	₹ 25,599
₹ 12 Lakh	₹ 26,391	₹ 30,718

Which is a better bank for Personal Loan – Federal Bank or Standard Chartered Bank?

Standard Chartered Bank offers lower Personal Loan EMI at 2199 on a Personal Loan for 60 Months as compared to Federal Bank with a minimum EMI of 2560 for 48 Months. Average customer ratings for Standard Chartered Bank is currently at 4.4/5.0 which makes it a good choice for taking a Personal Loan.

How does Federal Bank Personal Loan compare with Standard Chartered Bank Personal Loan?

It is important to do a detailed comparison of Federal 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 Federal Bank Personal Loan is 10.49%, which is lower than the lowest interest rate of Standard Chartered Bank at 11.50%. Hence, Federal Bank is offering a cheaper loan option.
When compared on other Personal Loan charges such as processing fees, Standard Chartered Bank charges a processing fees of 1.00% while Federal Bank charges a processing fees of 0.5%, Min Rs. 500.
Standard Chartered Bank offers Personal Loan upto an amount of ₹ 50 Lakh while Federal Bank offer Personal Loan upto an amount of ₹ 10 Lakh. Standard Chartered 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. Federal Bank gives the option to close the loan after Zero months at Nil prepayment charges and Standard Chartered Bank gives the option to close the loan after 1 months at 5% charges before 12 months, 4% charges after 12 months. This makes Federal Bank a better option for Personal Loan.
Federal Bank and Standard Chartered Bank allow part payment on Personal Loan after Zero months at Nil charges. Federal Bank applies a charge of Nil charges and Standard Chartered Bank charges 2% on Personal Loan.
Federal Bank with an average customer ratings of 4.4 is equally comparable to Standard Chartered Bank with an average customer rating of 4.4. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers lower interest rate on Personal Loan – Federal Bank or Standard Chartered Bank?

As per the current rates, Federal Bank offers a lower interest rate of 10.49% on Personal Loan when compared to Standard Chartered Bank which offers a Personal Loan at 11.50%.

Know all about Personal Loan

Know more about Standard Chartered Bank Personal Loan

Know more about Federal Bank Personal Loan

Compare Standard Chartered Bank Personal Loan With Other Banks

Compare Federal Bank Personal Loan With Other Banks

Notification ×

Home Loan
Home Loan at all-time low rates starting at 6.65%. Cashback of up to ₹ 1,000.
Apply Now
Personal Loan
Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .
Check Offers
Gold Loan
Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500
Apply Now
Loan Against Property
Best Loan Against Property Offers starting @ 7.20%. Cashback of up to ₹ 1,000*.
Apply Now
Business Loan
Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.
Apply Now
Fixed Deposit
AAA rated FDs with returns as high as 6.95%.
Invest Now

Personal Loan News - Jun 2021

2021-06-16 : ICICI STACK launched by ICICI Bank for Corporates
ICICI Bank announced the launch of ICICI STACK for Corporates. This will provide customised digital banking services to companies in over 15 leading industries. ICICI STACK is going to offer digital banking solution banking solutions to corporates to seamlessly meet their banking requirements.
2021-06-16 : Ujjivan Small Finance Bank collaborates with MoEngage
Ujjivan Small Finance Bank has collaborated with customer engagement platform MoEngage to provide digital banking services in remote areas of the country. The aim is to build a wide presence of the bank with customers in the unserved regions through digital services.
2021-06-15 : Indian Overseas Bank declared a profit of Rs 831 crore
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

Apply Personal Loan Online @ 10.25% ☺

Please wait while your information is being processed...