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Loan comparison of Axis Bank Personal Loan vs HDFC Bank Personal Loan

Interest Rate

Starts from 11.25% per annum
Starts from 10.90% per annum

Loan Amount

Up to 40 Lakhs
Up to Rs. 40 Lakh

Loan Tenure

Up to 84 months
Up to 5/6 years

Loan Processing fees

Up to 2% of the loan amount + GST
Up to Rs. 6,500 + GST

EMI per Lakh

N/A
N/A

Part Payment Charges

Foreclosure / partial payment Policy : After 1 EMI / Partial payment allowed. Foreclosure zero after 12 months
Premature Closure Charges (For Full & Part Payment): Up to 24 EMI- 4% of principal outstanding, Post 24-36 EMI - 3% of principal outstanding, >36 EMI - 2% of principal outstanding Prepayment charge would be applicable on the principal outstanding amount, Part prepayment would be allowed post servicing of 1st EMI, up to 25% of Principal Outstanding. It is allowed only once in the financial year and twice during the entire loan tenure. Charges would be applicable as above on the part pre-payment amount.

Minimum Income

The minimum net monthly income should be Rs. 15,000
Minimum Rs. 25,000 per month

Documents

Latest 3 months pay slips

Latest 3 months Bank statements

KYC Documents ( PAN & Adhaar)

Form 16 mandatory

Latest 3 months pay slips

Latest 6 months Bank statements in PDF format

KYC Documents ( PAN & Adhaar)

Employee ID card, Form 16, Previous emp proof if any

Employment less than 1 Yr qualification proof required


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