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Compare Syndicate Bank vs Allahabad Bank Personal Loan

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Bank
Interest Rate
Interest Rate
12.40% - 13.90%
9.05% - 13.65%
Processing Fees
Processing Fees
0.5%, Min Rs. 500
1.06%, Min Rs. 1068
Loan Amount
Loan Amount
₹ 50,000 to ₹ 2 Lakh
₹ 50,000 to ₹ 7.50 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,245
₹ 2,078
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 0 months at 2.25%
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 0 months at 2.25%
Eligible Age
Eligible Age
21 to 58 Years
25 to 58 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 20,000
Current Work Experience
Current Work Experience
NA
24 Months
Total Work Experience
Total Work Experience
NA
NA
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
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Compare Personal Loan EMI of Syndicate Bank and Allahabad Bank

Loan Amount Syndicate Bank Allahabad Bank
₹ 1 Lakh ₹ 2,245 ₹ 2,078
₹ 5 Lakh ₹ 11,224 ₹ 10,391
₹ 10 Lakh ₹ 22,447 ₹ 20,783
₹ 12 Lakh ₹ 26,937 ₹ 24,939

Which is a better bank for Personal Loan – Allahabad Bank or Syndicate Bank?

Allahabad Bank offers lower Personal Loan EMI at Rs. 2078 for 60 Months compared to Syndicate Bank with a minimum EMI of Rs. 2245 for 60 Months. In addition, average customer ratings for Allahabad Bank is currently at /5.0, making it a good choice for taking a Personal Loan.

How does Allahabad Bank Personal Loan compare with Syndicate Bank Personal Loan?

It is important to make a detailed comparison of Allahabad Bank and Syndicate 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 Allahabad Bank Loan is 9.05%, which is lower than the lowest interest rate of Syndicate Bank at 12.40%. Hence, Allahabad Bank is offering a cheaper loan option.
  • Compared to other Personal Loan charges such as processing fees, Syndicate Bank charges a processing fee of 0.5%, Min Rs. 500, while Allahabad Bank charges a processing fee of Upto 1.06%, Min Rs. 1068.
  • Allahabad Bank offers Personal Loan upto an amount of ₹ 7.50 Lakh, while Syndicate Bank offers Loan upto an amount of ₹ 2 Lakh. Therefore, Allahabad 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. Allahabad Bank and Syndicate Bank gives the option to close the loan after Zero months at 2.25% and Nil prepayment charges. This makes Allahabad Bank a better option for Personal Loan.
  • Allahabad Bank and Syndicate Bank allow part payment on Personal Loan after Zero months at 2.25%. Allahabad Bank applies a charge of 2.25% and Syndicate Bank charges Nil charges on Personal Loan.
  • with an average customer rating of is equally comparable to with an average customer rating of . Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers a lower interest rate on Personal Loan – Allahabad Bank or Syndicate Bank?

As per the current rates, Allahabad Bank offers a lower interest rate of 9.05% on loans compared to Syndicate Bank, which offers a Personal Loan at 12.40%.

Know more about Syndicate Bank Personal Loan

Know more about Allahabad Bank Personal Loan

Compare Syndicate Bank Personal Loan With Other Banks

Compare Allahabad Bank Personal Loan With Other Banks

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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
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