Key facts: Axis Bank vs Bank of Baroda vs Hero FinCorp personal loan
- Starting rate: Axis Bank 9.99%, Bank of Baroda 10.40%, Hero FinCorp 17.90%. This is the lowest rate each loan provider advertises for a personal loan, not the rate everyone is offered.
- Gap between starting rates: 7.91 percentage points between the lowest and the highest.
- Top of the published range: Bank of Baroda up to 17.75%.
- Maximum tenure: Bank of Baroda 7 years. Axis Bank and Hero FinCorp do not state one in months or years.
- Type of loan provider: Axis Bank is a private bank; Bank of Baroda is a public sector bank; Hero FinCorp is an NBFC. Banks and NBFCs price floating rates differently.
- Official websites: axis.bank.in, bankofbaroda.bank.in, herofincorp.com.
- Pages checked: 4 official pages opened for this loan type.
- Loan types with a published rate: Axis Bank 4, Bank of Baroda 4, Hero FinCorp 6 (out of 8 we track).
- EMI on ₹5 lakh over 5 years: Axis Bank ₹10,621, Bank of Baroda ₹10,722, Hero FinCorp ₹12,670 a month, at each starting rate.
- Total interest on the same loan: Axis Bank ₹1,37,264, Bank of Baroda ₹1,43,332, Hero FinCorp ₹2,60,172.
- Last checked: 12 October 2026, on each loan provider's own website.
Who each loan provider suits on a personal loan
Built only from figures the loan providers publish. It says where each one is ahead on paper, not who will approve you.
Pick Axis Bank if you want
- The lowest published starting rate (9.99%)
Pick Bank of Baroda if you want
- The most complete published terms for this loan (4 of 5 details)
Where Hero FinCorp stands
No clear edge on the published figures we could compare for a personal loan. Check the table below and the Key Fact Statement.
Axis Bank vs Bank of Baroda vs Hero FinCorp personal loan: rate, fees and tenure
Starting personal loan rates as published: Axis Bank from 9.99%, Bank of Baroda from 10.40% and Hero FinCorp from 17.90%. Axis Bank is lower at the starting rate, but the top of each range and your own credit profile decide what you are offered.
| Detail | Axis Bank | Bank of Baroda | Hero FinCorp |
|---|---|---|---|
| Published rate | Starting at 9.99% p.a. | Floating 10.40% to 17.75%; fixed 11.00% to 18.05% (varies by category and CIBIL) | Starting from 17.9% p.a. |
| Rate basis | Not published | Floating: Repo-linked (BRLLR) + spread; fixed: 1-year MCLR + spread | Not published |
| Loan amount | Up to Rs 50 lakhs | Rs 1 lakh (metro/urban); Rs 0.50 lakh (rural/semi-urban) to Rs 20 lakh | Not published |
| Maximum tenure | Not published | 84 months (govt employees with BoB salary account) | Not published |
| Processing fee | Not published | Nil for govt employees with BoB salary account; otherwise 1.00% to 2.00% + GST, min Rs 1,000 + GST, max Rs 10,000 + GST | Minimum 2.5% + GST, deducted at disbursal (non-refundable) |
| Prepayment / foreclosure | Not published | Not published | Prepayment charges: not applicable. Foreclosure: 5% + GST on outstanding principal |
| Eligibility (as published) | Not published | Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated | Not published |
| Other terms published |
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| Official source | axis.bank.in/loans/personal-loan axis.bank.in/loans/personal-loan/interest-rates-charges | bankofbaroda.bank.in/loans/personal-loan/baroda-personal-loan | herofincorp.com/personal-loan-fees-and-charges |
EMI illustration: ₹5 lakh over 5 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Axis Bank | 9.99% | ₹10,621 | ₹1,37,264 | ₹6,37,264 |
| Bank of Baroda | 10.40% | ₹10,722 | ₹1,43,332 | ₹6,43,332 |
| Hero FinCorp | 17.90% | ₹12,670 | ₹2,60,172 | ₹7,60,172 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Read the full guide: Personal loan
Axis Bank vs Bank of Baroda vs Hero FinCorp personal loan EMI by amount and tenure
Monthly EMI at each loan provider's lowest published rate, on a reducing balance. Fees, GST and insurance are not included, and your offered rate may be higher.
By loan amount, over 5 years
| Loan amount | Axis Bank (9.99%) | Bank of Baroda (10.40%) | Hero FinCorp (17.90%) |
|---|---|---|---|
| ₹1 lakh | ₹2,124 | ₹2,144 | ₹2,534 |
| ₹3 lakh | ₹6,373 | ₹6,433 | ₹7,602 |
| ₹5 lakh | ₹10,621 | ₹10,722 | ₹12,670 |
| ₹10 lakh | ₹21,242 | ₹21,444 | ₹25,339 |
| ₹20 lakh | ₹42,484 | ₹42,889 | ₹50,678 |
By tenure, on ₹5 lakh
| Tenure | Axis Bank (9.99%) | Bank of Baroda (10.40%) | Hero FinCorp (17.90%) |
|---|---|---|---|
| 1 year | ₹43,956 interest ₹27,467 | ₹44,051 interest ₹28,612 | ₹45,816 interest ₹49,794 |
| 2 years | ₹23,070 interest ₹53,684 | ₹23,165 interest ₹55,957 | ₹24,938 interest ₹98,510 |
| 3 years | ₹16,131 interest ₹80,725 | ₹16,228 interest ₹84,196 | ₹18,051 interest ₹1,49,841 |
| 5 years | ₹10,621 interest ₹1,37,264 | ₹10,722 interest ₹1,43,332 | ₹12,670 interest ₹2,60,172 |
| 7 years | ₹8,298 interest ₹1,97,033 | ₹8,404 interest ₹2,05,961 | ₹10,480 interest ₹3,80,289 |
A longer tenure lowers the EMI and raises the total interest. Pick the shortest tenure your monthly budget can carry.
What each loan provider publishes about its personal loan
Axis Bank
Private bank · Axis Bank Limited
- Instant approval
- No collateral required
- Flexible repayment
- Fully online application
Bank of Baroda
Public sector bank · Bank of Baroda
- How the rate is set: Floating: Repo-linked (BRLLR) + spread; fixed: 1-year MCLR + spread
- Eligibility as published: Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated
- Floating and fixed rate options
- Loan up to Rs 20 lakh
- Tenure up to 84 months for eligible govt employees
- Repayment via cheque, bank transfer or cash
Hero FinCorp
NBFC · Hero FinCorp Limited
- High loan eligibility up to Rs 7 Lakh
- Attractive interest rates
- Digital application process
Before you apply for a personal loan
- Insurance and add-ons: Loan insurance and other bundled products are usually optional. Ask for them to be removed if you do not want them.
- Total repayable amount: Compare the APR and the total you will repay, both shown in the Key Fact Statement, not only the monthly EMI.
- Existing EMIs: Loan providers look at how much of your monthly income already goes to EMIs. Closing a small loan first can improve the offer.
- Processing fee: Charged upfront, usually as a percentage of the loan plus GST. Ask for the amount in rupees and check whether it is cut from the money you receive.
RBI requires every loan provider to hand you a Key Fact Statement before you sign. It shows the rate, every fee, the APR and the total you will repay.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources and last check
Every figure above is read from the loan provider's own website and was checked on 12 October 2026. A blank means the page does not show that figure, and we never estimate one.
- Axis Bank: axis.bank.in/loans/personal-loan axis.bank.in/loans/personal-loan/interest-rates-charges
- Bank of Baroda: bankofbaroda.bank.in/loans/personal-loan/baroda-personal-loan
- Hero FinCorp: herofincorp.com/personal-loan-fees-and-charges
Read our editorial policy, how we make money and tell us about an error.
More personal loan comparisons
Axis Bank vs Bank of Baroda vs Hero FinCorp: every loan type on one page · All personal loan comparisons · Personal loan guide · Personal loan EMI calculator
Head to head, two at a time
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Frequently asked questions
Which is better for a personal loan: Axis Bank, Bank of Baroda or Hero FinCorp?
Axis Bank has the lowest published starting personal loan rate at 9.99%, against 10.40% at Bank of Baroda and 17.90% at Hero FinCorp. On ₹5 lakh over 5 years the difference in total interest is ₹1,22,908. Rate is only one part of the cost, so also compare the processing fee, the prepayment terms and the total repayable amount in the Key Fact Statement.
Which has the lower personal loan interest rate: Axis Bank, Bank of Baroda or Hero FinCorp?
Axis Bank has the lowest published starting personal loan rate at 9.99%, against 10.40% at Bank of Baroda and 17.90% at Hero FinCorp. The published ranges run to Bank of Baroda up to 17.75%, so the rate you are offered can sit well above the starting rate.
What is the personal loan processing fee at Axis Bank, Bank of Baroda and Hero FinCorp?
Axis Bank: not published. Bank of Baroda: Nil for govt employees with BoB salary account; otherwise 1.00% to 2.00% + GST, min Rs 1,000 + GST, max Rs 10,000 + GST. Hero FinCorp: Minimum 2.5% + GST, deducted at disbursal (non-refundable). Fees can change, so confirm the amount in rupees, with GST, before you accept.
What is the maximum personal loan tenure at Axis Bank, Bank of Baroda and Hero FinCorp?
Axis Bank: not published. Bank of Baroda: 84 months (govt employees with BoB salary account). Hero FinCorp: not published. A longer tenure lowers the EMI and raises the total interest.
Can I prepay or foreclose a personal loan early at Axis Bank, Bank of Baroda and Hero FinCorp?
Axis Bank: not published. Bank of Baroda: not published. Hero FinCorp: Prepayment charges: not applicable. Foreclosure: 5% + GST on outstanding principal. Ask whether the rate on your loan is fixed or floating, because the charges depend on it.
What is the EMI on a ₹5 lakh personal loan at Axis Bank, Bank of Baroda and Hero FinCorp?
Over 5 years at each loan provider's lowest published rate the monthly EMI is ₹10,621 at Axis Bank, ₹10,722 at Bank of Baroda and ₹12,670 at Hero FinCorp. This leaves out processing fees, GST and insurance, and your approved rate may be higher.
Who is eligible for a personal loan at Axis Bank, Bank of Baroda and Hero FinCorp?
Axis Bank: not published. Bank of Baroda: Min age 21; max age 60 (salaried) / 65 (non-salaried) incl. tenure; FOIR 40%-75%; rate linked to CIBIL, no minimum stated. Hero FinCorp: not published. Each loan provider can ask for more documents once you apply.
Are Axis Bank, Bank of Baroda and Hero FinCorp regulated by the RBI?
Yes. Axis Bank is a private bank, Bank of Baroda is a public sector bank, Hero FinCorp is an NBFC, and all lend under RBI rules, including the requirement to give you a Key Fact Statement before you sign.
Where do these personal loan figures come from?
From the official pages of Axis Bank, Bank of Baroda and Hero FinCorp, opened and checked on 12 October 2026. The sources are listed at the bottom of this page. We show a blank where a loan provider does not publish a figure, and we do not estimate one.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and eligibility change; always confirm with the loan provider. Read our editorial policy and how we make money.