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Compare Personal Loan - Standard Chartered Bank vs Karur Vysya Bank

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Bank
Parameters
Interest Rate
Interest Rate
11.50% - 18.00%
9.40% - 19.00%
Processing Fees
Processing Fees
1.00%
0.40%
Loan Amount
Loan Amount
₹ 1 Lakh to ₹ 50 Lakh
₹ 50,000 to ₹ 10 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 36 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,199
₹ 3,199
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
25 to 60 Years
Minimum Income
Minimum Income
₹ 25,000
₹ 20,000
Current Work Experience
Current Work Experience
3 Months
12 Months
Total Work Experience
Total Work Experience
36 Months
24 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
4.4/5.0
4.4/5.0
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Compare EMI of Standard Chartered Bank and Karur Vysya Bank Personal Loan

Loan Amount Standard Chartered Bank Karur Vysya Bank
₹ 1 Lakh ₹ 2,199 ₹ 3,199
₹ 5 Lakh ₹ 10,996 ₹ 15,993
₹ 10 Lakh ₹ 21,993 ₹ 31,986
₹ 12 Lakh ₹ 26,391 ₹ 38,383

Which is a better bank for Personal Loan – Karur Vysya 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 Karur Vysya Bank with a minimum EMI of 3199 for 36 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 Karur Vysya Bank Personal Loan compare with Standard Chartered Bank Personal Loan?

It is important to do a detailed comparison of Karur Vysya 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 Karur Vysya Bank Personal Loan is 9.40%, which is lower than the lowest interest rate of Standard Chartered Bank at 11.50%. Hence, Karur Vysya 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 Karur Vysya Bank charges a processing fees of 0.40%.
  • Standard Chartered Bank offers Personal Loan upto an amount of ₹ 50 Lakh while Karur Vysya 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. Karur Vysya 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 Karur Vysya Bank a better option for Personal Loan.
  • Karur Vysya Bank and Standard Chartered Bank allow part payment on Personal Loan after Zero months at Nil charges. Karur Vysya Bank applies a charge of Nil charges and Standard Chartered Bank charges 2% on Personal Loan.
  • Karur Vysya 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 – Karur Vysya Bank or Standard Chartered Bank?

As per the current rates, Karur Vysya Bank offers a lower interest rate of 9.40% 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 Karur Vysya Bank Personal Loan

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Personal Loan News - Jun 2021
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    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.
  • 2021-06-11 : MyLoanCare collaborates with three of the top app-based lenders
    MyLoanCare Ventures Pvt Ltd has collaborated with three of the top app-based lenders - MoneyTap, EarlySalary, and Paysense to make Instant Small Ticket Personal Loans convenient, transparent and much quicker.
  • 2021-06-11 : MyLoanCare collaborates with three of the top app-based lenders
    MyLoanCare Ventures Pvt Ltd has collaborated with three of the top app-based lenders - MoneyTap, EarlySalary, and Paysense to make Instant Small Ticket Personal Loans convenient, transparent and much quicker.
  • 2021-06-10 : Rural Loan Collections to be affected by the Second wave
    As the borrowers are continuously facing the issues created by the pandemic, India Ratings - a rating agency reported that the collections of Rural Loan which includes Home Loan, Loan Against Property, Business Loan, Personal Loan, etc. will be vastly affected because of the second wave of Covid-19.
*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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