Comparison of HDFC Bank v/s Axis Bank Personal Loan

If you are a new borrowers who want to take personal loan from bank or an existing customer who wants to know the current rates of HDFC & Axis Bank then you are at the right place. Compare on your own now. Check your eligibility down below & get quick loan disbursal today.

HDFC is a leading bank which provides personal loan at competitive interest rate & transparent process. You can get personal loan eligibility in 1 minute available online and across all branches.

It provides special loan offers for women employees and you can get your loan amount in just 2 days after successful completion of documentation process and sole discretion of HDFC Bank Ltd.

You can also secure your HDFC Bank Personal Loan with Sarv Suraksha Pro which includes credit shield cover equal to the outstanding loan amount.

Minimum documents are required and the customer are offered with the facility of hassle – free loan disbursal process.

You can contact the bank in case of any confusion via wechat, Click2Talk, Phone Banking & SMS.

Whereas, Axis Bank provides personal loan for a minimum of ₹ 50,000/- at attractive interest rate starting at just 15.5% p.a. One can avail loan from axis bank for the purpose of wedding, renovating your home or travelling.

You can get personal loan at affordable rates and flexible repayment tenure. Also, check your Monthly installments on desired loan amount with Axis Bank Personal loan EMI Calculator and know how much you need to pay monthly in less than a minute.

Borrowers can apply easily by the various means mentioned below :-

Online Procedure – You can simply provide your Name, Address, Email ID, Pincode, Mobile number to get instant quote online.

Visiting axis bank loan center – Alternatively, you can also visit your nearest axis bank loan centre. You just need to select your State, city & area.

By calling on Call Center at any of these toll free numbers: 1800 233 5577 or 1800 209 5577 or 1800 103 5577.

Refer to the information given below for further details about both the banks & get a clear view of your personal loan plans.

HDFC Bank V/S AXIS BANK PERSONAL LOAN
PARAMETERS	HDFC BANK	AXIS BANK
Eligibility criteria	Salaried individual working as doctors, CAs, employees of private limited companies, employees from public sector undertakings, including central, state and local bodies aged between 21 to 60 years of age	Salaried individual working as doctors, Employees of private limited companies, employees from public sector undertakings, including central, state and local bodies aged between 21 to 60 years of age
	Individuals who have had a job for at least 2 years, with a minimum of 1 year with the current employer	Minimum salary should be ₹ 15,000/-
	Minimum salary should be ₹ 15,000/- & ₹ 20,000 for Metropolitan cities
Interest Rates	15.75% to 20%	15.50% to 24%
Processing fee	Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.	1.50% to 2% + GST as applicable
Loan amount	₹ 15 lakh	₹ 15 lakh
Loan tenure	1 year to 5 year	1 year to 5 year

Documents Required by HDFC & AXIS Bank

• Application duly filled
• Latest salary slip
• Latest 3 months bank statement
• Identity Proof : Passport, PAN card or Voter ID
• Address Proof : Passport, Electricity bill or Driving license
• Signature Proof : Passport, PAN card
• Latest passport sized photograph
• Loan Agreement duly signed
• Standing Instruction (SI) Request / ECS Form. Security Cheques required for SI and ECS
• Qualification or registration proof in case of doctors, Architects, CA, CS, ICWA, MBA consultant, Engineers.

How to get Personal Loan for your Dream Wedding ?

Wedding season is round the corner. Everyone wants their wedding to be the best one. Everything should be perfect on the day. Be it the venue, food, attires, jewellery or decoration, Everything is supposed to be in place and according to your expectations. To fulfill these expectations you need funds, this is where everything you ever wished for, seems impossible. Isn’t ? either way the only hurdle that seems difficult to cross is ‘money’.

Best way to overcome this is to take a wedding loan which is a types of a personal loan to meet the requirement of your wedding.

Personal loan can be availed from any bank at minimum rate of interest. This must be kept in mind that getting a loan is just the first step. There are many things that you need to consider before applying for a loan.

‘TO DO THINGS’ while getting a marriage loan

Consider your income –Personal loan is easy to get but you should first consider your own cash flow. Try to avoid situation where the borrower is unable to pay the money which tend to happen with most of the people. As a borrower you should know your own repayment capacity according to your source of income.

Look out for options – There are plenty of options that are enough to satisfy your need but you need to look out for handful of options before hopping on to any conclusion. Choose the bank that is offering best personal loan interest rates and tenure.

Ask questions & Know everything – After you have selected from which bank you want to avail loan, It’s important to know every charges that comes with it. Know the Interest rates, Processing fee & Other charges linked with it. Banks try to keep the process as transparent as possible but you can ask queries any time you want to.

Know your purpose – Your purpose of getting a personal loan should be clear. Try and cut short your expenses, Be specific about your spendings even if you’ve got a big loan amount sanctioned.

Check out the marriage loan details from top banks, Eligibility & Get quick loan approval. Also Also, Check your loan amount installments with Loan EMI Calculator  in less than a minute.

Eligibility Criteria to get marriage loan

• Any salaried or self employed person is eligible to get marriage loan.
• The minimum age should be 21 (23 for some banks) to apply for loan.
• Minimum income should be ₹ 20,000/- which may vary from bank to bank.
• Ideal credit score should be 700 or above.

Basic Documents required

• Income statements (Salary slip, Form 16)
• Bank statement of last 6 months
• latest income tax returns
• ID Proof – Adhaar card, Voter ID, Passport, Driving license.
• Residence proof – Electricity bill, telephone bill, adhaar card, ration card
• Age Proof – Birth certificate, passport, adhaar card.
• Latest passport sized photograph
• Other KYC documents

Marriage loan details from top banks

SBI (State Bank of India)

SBI provides personal loan at affordable interest rates & low processing fee. Any resident individual can apply having a minimum 2 years of experience with minimal documentations. Check other important details below :-

Maximum Loan amount – ₹ 10 lacs

Interest rate – 12.45% onwards

Security – NIL

Repayment tenure – 48 Months

Processing fee – 2%-3% of the loan amount + GST

ICICI BANK

ICICI offers personal loan for your marriage with less rate of interest. It charges up to 2.25% plus GST per annum as processing fee. No security or collateral is required to avail loan from ICICI bank and that too with minimal documents.

Maximum Loan amount – ₹ 20 lakhs

Interest Rate – starting from 10.99%

Pre payment charges – 5% per annum of principal outstanding plus GST

Re payment period – 5 years

AXIS BANK

Get quick approval on your marriage loan with less documents & flexible repayment tenure. Axis bank provides expert advice on personal loan to meet the wedding needs according to your income & cash flow. Look below for axis bank personal loan details :

Minimum age to apply for the loan is 21 years

Maximum Loan Amount – ₹ 15 lakhs

Rate of Interest – 15.50% – 24% p.a

Processing fee – up to 2% + GST

No prepayment or foreclosure charges

TATA CAPITAL

You can get personal loan from Tata Capital without any security or collateral. They offer competitive interest rates and low processing fee. To get instant loan check out for the information below.

Age limit & minimum income :-

25-65 years having an annual business or professional income of Rs 2,00,000 and above

21-58 years having a salary income of Rs 20,000 and above

Maximum Loan Amount – ₹ 15 lakhs

Interest rates – 11.49 and 19%

Processing fee – depends on loan amount

HDFC Bank

Salaried Individual can apply for personal loan from HDFC bank and get easy loan disbursal in less than 48 hours after successful documents verification.

Maximum Loan Amount – ₹ 15 lakhs

Interest rates – 15.75% – 20%

Processing fee – up to 2.50%

Repayment tenure – 12 to 60 months

SBI MEASURES TO TACKLE AFFORDABLE HOUSING LOAN DEMAND

State Bank of India is in the race nowadays, To meet the rise in demand of housing loans. For this the bank is taking measures in order to not to disappoint the customers.

SBI is already preparing every possible check list for it’s customers.

There is a shortage of housing due to which chances are that the demand for SBI Home Loan might increase & the demand will be basically from government agencies rather than private builders.

SBI provides home loan on an average of Rs. 24 lakh & The customers are usually first time home buyers according to the experts.

SBI have already started taking the issue into consideration & aiming at quick approval process.

After coming of Pradhan Mantri Awas Yojana (PMAY) there are chances that the demand of the home buyers will rise for Home Loans.

By the end of the year 2017, SBI will be sanctioning home loan in more than the previous year statistics.

Many factors are encouraging borrowers to opt for Home loans.

In the June quarter, The properties priced below ₹ 25 lakh, made up around 17% of overall housing sales in eight metropolitan cities. During the quarter, A total of 10,890 housing units in this segment were sold.

At the end of June, The home loan book stood at ₹ 2.88 trillion with 33% market share.

Outstanding Total housing loans of the banking sector stood at ₹ 8.62 trillion, 11% higher year-on-year, According to the latest data from the Reserve Bank of India.

All the steps that SBI is initiating is going to help the borrowers in the loan process & Also going to stimulate the customer’s growth eventually.

SBI is considered as one of the biggest lender offering Home loan of Up to ₹ 30 lakhs at 8.35% per annum. The Bank comes with various types of products under home loan category to suit the need & requirement of each & every individual.

SHORT NEWS FOR THE PAGE

As the demand for housing is increasing, SBI is also taking steps to make better plans for future hike in demand for home loans. Currently, SBI is offering Home loan of ₹ 30 lakhs at 8.35% which is a competitive loan product in itself. The customers are usually the first time borrowers who tend to fear the hectic procedure of loan approval. SBI is already taking measure and initiating quick approval process for the customer’s convenience. As the festive season is also coming there are chances that SBI will be coming up with more & more home loan applicants.

After PMVY, already there is a hike in the number of home buyers under different schemes or products of SBI. At the end of June, The home loan book stood at ₹ 2.88 trillion with 33% market share.

Outstanding Total housing loans of the banking sector stood at ₹ 8.62 trillion, 11% higher year-on-year, According to the latest data from the Reserve Bank of India.

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