Compare Syndicate Bank vs Standard Chartered Bank Personal Loan

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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 Federal Bank PNB Indian Overseas Bank Indian Bank IDBI Bank Corporation Bank Bank of Baroda Yes Bank Karur Vysya Bank Cashe 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 Federal 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 Cashe Axis Finance
Interest Rate	Interest Rate 12.40% - 13.90%	11.50% - 18.00%
Processing Fees	Processing Fees 0.5%, Min Rs. 500	1.00%
Loan Amount	Loan Amount ₹ 50,000 to ₹ 2 Lakh	₹ 1 Lakh to ₹ 50 Lakh
Loan Tenure	Loan Tenure 12 to 60 Months	12 to 60 Months
Lowest EMI Per Lakh	Lowest EMI Per Lakh ₹ 2,245	₹ 2,199
Part Payment Charges	Part Payment Charges Allowed after 0 months at Nil prepayment charges	Allowed after 12 months at 2%
Foreclosure Charges	Foreclosure Charges Allowed after 0 months at Nil prepayment charges	Allowed after 1 month at 5% charges before 12 months, 4% charges after 12 months
Eligible Age	Eligible Age 21 to 58 Years	23 to 58 Years
Minimum Income	Minimum Income ₹ 20,000	₹ 25,000
Current Work Experience	Current Work Experience NA	3 Months
Total Work Experience	Total Work Experience NA	36 Months
Customer Ratings (Read Reviews)	Customer Ratings (Read Reviews)	4.7/5.0

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Compare Personal Loan EMI of Syndicate Bank and Standard Chartered Bank

Loan Amount	Syndicate Bank	Standard Chartered Bank
₹ 1 Lakh	₹ 2,245	₹ 2,199
₹ 5 Lakh	₹ 11,224	₹ 10,996
₹ 10 Lakh	₹ 22,447	₹ 21,993
₹ 12 Lakh	₹ 26,937	₹ 26,391

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

Standard Chartered Bank offers lower Personal Loan EMI at Rs. 2199 for 60 Months compared to Syndicate Bank with a minimum EMI of Rs. 2245 for 60 Months. In addition, average customer ratings for Standard Chartered Bank is currently at 4.7/5.0, making it a good choice for taking a Personal Loan.

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

It is important to make a detailed comparison of Standard Chartered 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 Standard Chartered Bank Loan is 11.50%, which is lower than the lowest interest rate of Syndicate Bank at 12.40%. Hence, Standard Chartered 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 Standard Chartered Bank charges a processing fee of Upto 1.00%.
Standard Chartered Bank offers Personal Loan upto an amount of ₹ 50 Lakh, while Syndicate Bank offers Loan upto an amount of ₹ 2 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. Syndicate 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 Syndicate Bank a better option for Personal Loan.
Standard Chartered Bank and Syndicate Bank allow part payment on Personal Loan after 12 months at 2%. Standard Chartered Bank applies a charge of 2% and Syndicate Bank charges Nil charges on Personal Loan.
Standard Chartered Bank has an average customer rating of 4.7. In contrast, has an average customer rating of , 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 – Standard Chartered Bank or Syndicate Bank?

As per the current rates, Standard Chartered Bank offers a lower interest rate of 11.50% on loans compared to Syndicate Bank, which offers a Personal Loan at 12.40%.

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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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