Cheapest Personal Loan Interest Rate In India : If you have run your business in the festive season by borrowing money from a friend or family member. Now the time to return his money is near, then in such a situation you can use the facility of personal loan. We are going to give you information about the cheapest personal loan in this news.
Must have good credit score
Let us tell you that if you want to take a personal loan, then you have to keep your credit score good. With the help of which you can get loan immediately. Many banks and financial institutions are offering personal loans in the country. A person with a better credit score can get a personal loan quickly. Also, you should repay the loan amount on time to avoid any kind of financial pressure.
how much fund will be needed
While applying for a personal loan, you must know your target. How much fund do you need? You must assess how much time you are able to repay the loan amount based on your monthly income. The personal loan amount is repaid based on the interest rate and amount of the loan.
This bank is giving cheapest personal loan
If your credit score is good, then you can approach the financial institution and bank for the loan with low interest rate. To pay less interest on the loan, the borrower should apply for a loan with a shorter tenure. In this list, based on the comparison of loan offers, interest rate and EMI of banks, it is being told. In this list, we have compared personal loans up to Rs 5 lakh with tenure of 3 years. Seeing which you can decide according to your need.
|BANKS||Interest Rate (%PA)||EMI-Rupee (3 Year Tenure)|
|Bank Of Maharashtra||8.9||15,877|
|Bank Of India||9.75||16,075|
|Punjab National Bank||9.8||16,087|
|Bank Of Baroda||10.2||16,181|
|Kotak Mahindra Bank||10.25||16,192|
|State Bank Of India||10.55||16,263|
|Punjab & Sind Bank||10.55||16,263|
|Central Bank Of India||11.25||16,429|
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