Loan comparison of HDFC Bank Personal Loan vs Axis Bank Personal Loan
Interest Rate
Starts from 10.90% per annum
Starts from 11.25% per annum
Loan Amount
Up to Rs. 40 Lakh
Up to 40 Lakhs
Loan Tenure
Up to 5/6 years
Up to 84 months
Loan Processing fees
Up to Rs. 6,500 + GST
Up to 2% of the loan amount + GST
EMI per Lakh
Part Payment Charges
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.
Foreclosure / partial payment Policy : After 1 EMI / Partial payment allowed. Foreclosure zero after 12 months
Minimum Income
Minimum Rs. 25,000 per month
The minimum net monthly income should be Rs. 15,000
Documents
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
Latest 3 months pay slips
Latest 3 months Bank statements
KYC Documents ( PAN & Adhaar)
Form 16 mandatory
