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Loan comparison of Axis Bank Personal Loan vs SBI Personal Loan

Axis Bank Personal Loan

SBI Personal Loan

Interest Rate

Starts from 11.25% per annum

11% onwards per annum

Loan Amount

Up to 40 Lakhs

Up to 20 Lakhs

Loan Tenure

Up to 84 months

6 Months to 6 Years

Loan Processing fees

Up to 2% of the loan amount + GST

Up to 1.5% of loan amount + tax

EMI per Lakh

N/A

Rs. 1832 Per Lakh

Part Payment Charges

Foreclosure / partial payment Policy : After 1 EMI / Partial payment allowed. Foreclosure zero after 12 months

Not allowed

Minimum Income

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

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

Documents

Latest 3 months pay slips

Latest 3 months Bank statements

KYC Documents ( PAN & Adhaar)

Form 16 mandatory

* 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