Loan comparison of HDFC Bank Personal Loan vs Axis Bank Personal Loan
Interest Rate
10.50% - 21.00% per annum
10.49% onwards per annum
Loan Amount
Up to Rs. 40 Lakh
Up to Rs. 40 Lakh
Loan Tenure
12 to 60 months
Up to 60 months
Loan Processing fees
Up to Rs. 4999
Up to 2% of the loan amount + GST
EMI per Lakh
Rs. 1878 Per Lakh
Rs. 1074 Per Lakh
Part Payment Charges
For salaried individuals there's no pre-payment in Part or Full permitted until repayment of 12 EMIs. Part-payment is allowed up to 25% of Principal Outstanding, and can be done only once in the financial year and twice during the loan tenure.
Following are Part-payment Charges (on part-payment amount):
Salaried- 13-24 months - 4% of principal outstanding
25-36 months - 3% of principal outstanding
>36 months - 2% of principal outstanding
* 5% for 0 to 12 months * 4% for 13 to 24 months * 3% for 25 to 36 months * 2% for greater than 36 months
Minimum Income
Minimum Rs. 25,000 net income per month
The minimum net monthly income should be Rs. 15,000
Documents
* Identity proof such as a copy of passport/voter ID card/driving license/Aadhaar
* Address proof such as a copy of passport/voter ID card/driving license/Aadhaar
* Bank statement of previous 3 months and passbook of previous 6 months
* Two latest salary slip/current dated salary certificate with the latest Form 16
* Duly filled application form
* KYC documents
* Loan agreement duly signed and Standing Instruction (SI) Request / ECS Forms
* Docs declaring the continued employment for the applicant
