Loan comparison of Standard Chartered Personal Loan vs SBI Personal Loan

Standard Chartered Personal Loan

SBI Personal Loan

Interest Rate

11.49% onwards per annum

11% onwards per annum

Loan Amount

Up to Rs. 50 Lakh

Up to 20 Lakhs

Loan Tenure

1 Year to 5 Years

6 Months to 6 Years

Loan Processing fees

Up to 1%-2.25%

Up to 1.5% of loan amount + tax

EMI per Lakh

N/A

Rs. 1832 Per Lakh

Part Payment Charges

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

Not allowed

Minimum Income

The net monthly salary must exceed Rs. 22,000

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

Documents

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

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

* 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