Loan comparison of Standard Chartered Personal Loan vs Axis Bank Personal Loan

Standard Chartered Personal Loan

Axis Bank Personal Loan

Interest Rate

11.49% onwards per annum

10.49% onwards per annum

Loan Amount

Up to Rs. 50 Lakh

Up to Rs. 40 Lakh

Loan Tenure

1 Year to 5 Years

Up to 60 months

Loan Processing fees

Up to 1%-2.25%

Up to 2% of the loan amount + GST

EMI per Lakh

N/A

Rs. 1074 Per Lakh

Part Payment Charges

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

* 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

The net monthly salary must exceed Rs. 22,000

The minimum net monthly income should be Rs. 15,000

Documents

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

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

* 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