MyLoanCare is a FREE of cost service for borrowers

Get Voucher of Upto ₹1,000* on Personal Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0

Compare Standard Chartered Bank vs IDFC First Bank Personal Loan

Download Comparison
Bank
Interest Rate
Interest Rate
11.50% - 18.00%
10.49% - 22.00%
Processing Fees
Processing Fees
1.00%
Upto 2.00%
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 50 Lakh
₹ 1 Lakh to ₹ 40 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,199
₹ 2,149
Part Payment Charges
Part Payment Charges
Allowed after 12 months at 2%
Allowed after 3 months at In case of Smart Personal Loan at Nil Charges
Foreclosure Charges
Foreclosure Charges
Allowed after 1 month at 5% charges before 12 months, 4% charges after 12 months
Allowed after 12 months at 5% foreclosure charges. Can foreclose after 3 months in case of smart personal loan
Eligible Age
Eligible Age
23 to 58 Years
23 to 60 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 20,000
Current Work Experience
Current Work Experience
3 Months
6 Months
Total Work Experience
Total Work Experience
36 Months
12 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.7/5.0
4.6/5.0
Add Bank

Compare Personal Loan EMI of Standard Chartered Bank and IDFC First Bank

Loan Amount Standard Chartered Bank IDFC First Bank
₹ 1 Lakh ₹ 2,199 ₹ 2,149
₹ 5 Lakh ₹ 10,996 ₹ 10,744
₹ 10 Lakh ₹ 21,993 ₹ 21,489
₹ 12 Lakh ₹ 26,391 ₹ 25,787

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

IDFC First Bank offers lower Personal Loan EMI at Rs. 2149 for 60 Months compared to Standard Chartered Bank with a minimum EMI of Rs. 2199 for 60 Months. In addition, average customer ratings for IDFC First Bank is currently at 4.6/5.0, making it a good choice for taking a Personal Loan.

How does IDFC First Bank Personal Loan compare with Standard Chartered Bank Personal Loan?

It is important to make a detailed comparison of IDFC First Bank and Standard Chartered 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 IDFC First Bank Loan is 10.49%, which is lower than the lowest interest rate of Standard Chartered Bank at 11.50%. Hence, IDFC First Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Standard Chartered Bank charges a processing fee of 1.00%, while IDFC First Bank charges a processing fee of Upto Upto 2.00%.
  • Standard Chartered Bank offers Personal Loan upto an amount of ₹ 50 Lakh, while IDFC First Bank offers Loan upto an amount of ₹ 40 Lakh. Therefore, 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 the foreclosure facility. Standard Chartered Bank gives the option to close the loan after 1 months at 5% charges before 12 months, 4% charges after 12 months and IDFC First Bank gives the option to close the loan after 12 months at 5% foreclosure charges. Can foreclose after 3 months in case of smart personal loan. This makes Standard Chartered Bank a better option for Personal Loan.
  • IDFC First Bank and Standard Chartered Bank allow part payment on Personal Loan after 3 months at Nil charges. IDFC First Bank applies a charge of Nil charges and Standard Chartered Bank charges 2% on Personal Loan.
  • Standard Chartered Bank has an average customer rating of 4.7. In contrast, IDFC First Bank has an average customer rating of 4.6, based on which it is clear that Standard Chartered Bank has a high customer service focus, an easy process and a quick turnaround.

Which bank offers a lower interest rate on Personal Loan – IDFC First Bank or Standard Chartered Bank?

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

Know more about Standard Chartered Bank Personal Loan

Know more about IDFC First Bank Personal Loan

Compare Standard Chartered Bank Personal Loan With Other Banks

Compare IDFC First Bank Personal Loan With Other Banks

Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 7.15%. 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 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 8.10%. 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 7.05%.

    Invest Now
Personal Loan News - Jun 2022
  • 2022-05-13 : Punjab National Bank Increases Personal Loan Rates
    The bank has increased the rates by 40 basis points, and after the revision, the bank offers personal loans starting from 8.85% to 14.85%.
  • 2022-05-13 : South Indian Bank Posts all-time High Net Profit in Q4
    The Bank has posted an all-time high net profit of ₹272 crores for Q4 in FY 22 against ₹6.79 crores during the corresponding period of the previous year.
  • 2022-05-13 : Ujjivan Small Finance Bank Profit Falls by 7% for Q4
    The bank has reported a 7 percent fall in its net profit to Rs 126.5 crore. Earlier, the bank had posted a net profit of Rs 136 crore in the same quarter of the preceding fiscal year 2020-21.
  • 2022-05-12 : Indian Bank Revises Personal Loan Rates
    Indian Bank has increased the rates on personal loans, and as a result, the bank offers the lowest rates starting at 8.90% to upto 9.40%.
  • 2022-05-10 : Canara Bank Hikes Personal Loan Interest Rates
    The bank has increased the lowest personal loan rates from 12.40% to 12.80%.
*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
Loader
Please wait while your information is being processed...