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Loan comparison of SBI Personal Loan vs Axis Bank Personal Loan

SBI Personal Loan

Axis Bank Personal Loan

Interest Rate

11% onwards per annum

Starts from 11.25% per annum

Loan Amount

Up to 20 Lakhs

Up to 40 Lakhs

Loan Tenure

6 Months to 6 Years

Up to 84 months

Loan Processing fees

Up to 1.5% of loan amount + tax

Up to 2% of the loan amount + GST

EMI per Lakh

Rs. 1832 Per Lakh

N/A

Part Payment Charges

Not allowed

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

Minimum Income

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

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

Documents

* 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

Latest 3 months pay slips

Latest 3 months Bank statements

KYC Documents ( PAN & Adhaar)

Form 16 mandatory