Loan comparison of SBI Personal Loan vs Standard Chartered Personal Loan

SBI Personal Loan

Standard Chartered Personal Loan

Interest Rate

11% onwards per annum

11.49% onwards per annum

Loan Amount

Up to 20 Lakhs

Up to Rs. 50 Lakh

Loan Tenure

6 Months to 6 Years

1 Year to 5 Years

Loan Processing fees

Up to 1.5% of loan amount + tax

Up to 1%-2.25%

EMI per Lakh

Rs. 1832 Per Lakh

N/A

Part Payment Charges

Not allowed

Up to a maximum of 25% of the outstanding balance of the loan in a year

Minimum Income

Minimum monthly income should be Rs. 15000 or Rs. 24,000

The net monthly salary must exceed Rs. 22,000

Documents

* Passport, PAN, Voter Identity Card, Driving License, Aadhaar Card

* Ration Card, Bank Account Statement, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement(for owned properties)

* Bank Account Statement, Salary Slips, ITR, Form 16

* Passport, Voter Identity Card, Driving License, Aadhaar Card

* Ration Card, Electricity Bill, Telephone Bill, Life/Medical Insurance Policy, Rental Agreement, Apartment Allotment Letter