Personal loan interest rates: Want personal loan? Interest rates in top 6 banks
Many people are now bending to individual debt for the purposes of money. Banks have also made it easy to get them. However, some things should be considered before applying on individual loans. Personal loan interest rates are important among them. If we get a low interest rate, we will reduce the financial burden on us. Find the interest rates of the country’s top 6 banks.
Top 6 banks charge these rates on individual loans.
HDF C Bank: The country’s largest private bank, which pays interest from 10.85 % to 24 % on personal loans. Processing fee Rs.
ICICI Bank: Private bank pays interest from 10.85 % to 16.65 % per year. The processing fee is up to 2 percent of the loan amount.
Kotak Mahindra Bank: This lender pays interest from 10.99 percent to 16.99 percent per year on individual loans. However, the processing fee is up to 5 percent of the loan amount.
| Edge | Interest rate (%) |
|---|---|
| HDFC Bank | 10.85 to 24% |
| ICICI Bank | 10.85% to 16.65% per year |
| Kotak Mahindra Bank | 10.99% to 16.99% per year |
| SBI | 12.60 to 14.60% (for corporate staff) |
| Axis bank | 10.55 to 21.80% |
| Permission | 12.50 to 14.50% |
,Source: Bank web sites,
state Bank of India (SBI): India’s largest creditor pays interest between 12.60 % to 14.60 % from corporate staff. Employees of different categories have different rates.
For example, government employees will be given loans from 11.60 % to 14.10 %.
Axis bank: This private bank pays interest from 10.55 % to 21.80 % on personal loans.
Permission : The second largest government bank PNB is charging interest from 12.50 % to 14.50 % on personal loans.
The interest rate of bank charging on individual loans usually depends on several factors, such as borrower’s credit score, monthly salary and current loan. However, each bank has its own credit policy. Therefore, it charge a separate interest rate.
Processing fee ..
In addition to the interest rates, borrowers will have to pay another cost as a processing fee. This fee refers to the cost of charging the lender to manage the loan application.
This fee lends between 0.5 % to 2.5 %. It is usually charged during a loan grant.
,Note:- The risk should be realized with a personal loan.,
