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Compare Personal Loan - Union Bank of India vs Syndicate Bank

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Bank
Parameters
Interest Rate
Interest Rate
8.90% - 13.00%
12.40% - 13.90%
Processing Fees
Processing Fees
0.5%, Min Rs. 500
0.5%, Min Rs. 500
Loan Amount
Loan Amount
₹ 50,000 to ₹ 5 Lakh
₹ 50,000 to ₹ 2 Lakh
Loan Tenure
Loan Tenure
12 to 60 Months
12 to 60 Months
Lowest EMI Per Lakh
Lowest EMI Per Lakh
₹ 2,071
₹ 2,245
Part Payment Charges
Part Payment Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 0 months at Nil prepayment charges
Foreclosure Charges
Foreclosure Charges
Allowed after 0 months at Nil prepayment charges
Allowed after 0 months at Nil prepayment charges
Eligible Age
Eligible Age
21 to 58 Years
21 to 58 Years
Minimum Income
Minimum Income
₹ 20,000
₹ 20,000
Current Work Experience
Current Work Experience
0 Months
0 Months
Total Work Experience
Total Work Experience
0 Months
0 Months
Customer Ratings (Read Reviews)
Customer Ratings (Read Reviews)
3/5.0
3/5.0
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Compare EMI of Union Bank of India and Syndicate Bank Personal Loan

Loan Amount Union Bank of India Syndicate Bank
₹ 1 Lakh ₹ 2,071 ₹ 2,245
₹ 5 Lakh ₹ 10,355 ₹ 11,224
₹ 10 Lakh ₹ 20,710 ₹ 22,447
₹ 12 Lakh ₹ 24,852 ₹ 26,937

Which is a better bank for Personal Loan – Union Bank of India or Syndicate Bank?

Union Bank of India offers lower Personal Loan EMI at 2071 on a Personal Loan for 60 Months as compared to Syndicate Bank with a minimum EMI of 2245 for 60 Months. Average customer ratings for Union Bank of India is currently at 3/5.0 which makes it a good choice for taking a Personal Loan.

How does Union Bank of India Personal Loan compare with Syndicate Bank Personal Loan?

It is important to do a detailed comparison of Union Bank of India 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 Union Bank of India Personal Loan is 8.90%, which is lower than the lowest interest rate of Syndicate Bank at 12.40%. Hence, Union Bank of India is offering a cheaper loan option.
  • When compared on other Personal Loan charges such as processing fees, Union Bank of India charges a processing fees of 0.5%, Min Rs. 500 while Syndicate Bank charges a processing fees of 0.5%, Min Rs. 500.
  • Union Bank of India offers Personal Loan upto an amount of ₹ 5 Lakh while Syndicate Bank offer Personal Loan upto an amount of ₹ 2 Lakh. Union Bank of India 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. Syndicate Bank and Union Bank of India gives the option to close the loan after Zero months at Nil prepayment charges and Nil prepayment charges. This makes Syndicate Bank a better option for Personal Loan.
  • Syndicate Bank and Union Bank of India allow part payment on Personal Loan after Zero months at Nil charges. Syndicate Bank applies a charge of Nil charges and Union Bank of India charges Nil charges on Personal Loan.
  • Syndicate Bank with an average customer ratings of 3 is equally comparable to Union Bank of India with an average customer rating of 3. Hence, the customer can expect the same kind of service levels from these banks.

Which bank offers lower interest rate on Personal Loan – Union Bank of India or Syndicate Bank?

As per the current rates, Union Bank of India offers a lower interest rate of 8.90% on Personal Loan when compared to Syndicate Bank which offers a Personal Loan at 12.40%.

Know all about Personal Loan

Know more about Union Bank of India Personal Loan

Know more about Syndicate Bank Personal Loan

Compare Union Bank of India Personal Loan With Other Banks

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Personal Loan News - Jun 2021
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    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
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