Suddenly someone needs money for medical emergency, education, marriage and travel. Many times people need to take a personal loan to meet emergent needs. All banks charge different rates of interest on personal loans.
Published: January 21, 2022 05:23:16 pm
Cheapest Personal Loan: Suddenly someone has been in need of money for medical emergency, education, marriage and travel. Many times people need to take a personal loan to meet emergent needs. All banks charge different rates of interest on personal loans. There is no collateral required to avail a personal loan. Banks check the credit score of the customer before giving a personal loan. If you are thinking of taking a cheap loan then this news is good for you. Let us know from which bank you can get a cheap personal loan.
3 banks are offering cheapest personal loan
These three government banks are providing the cheapest personal loan. The cheapest personal loan is from Union Bank, which can get you money at an interest rate of 8.90 percent. If you want Rs 5 lakh for five years, then you have to pay EMI of only Rs 10,355 per month at this interest rate. After this the name of the center bank comes. This bank is also giving you a personal loan of 8.90 percent interest rate. Talking about EMI, for this you will have to pay 10,355 per month. On the other hand, Punjab National Bank’s personal loan interest rate is only 8.90 percent. If you want the same amount for the same tenure, then you will have to pay an EMI of Rs 10,355 per month only.
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These banks also have low interest rates
At present, some banks are offering personal loans at affordable rates. The interest rates on Indian Bank’s personal loan offers start at 9.05 per cent. Talking about Bank of Maharashtra, it is offering personal loan at 9.45 percent and Punjab & Sind Bank and IDBI Bank are offering a minimum rate of 9.50 percent.
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This bank is also giving cheap personal loan
The largest bank SBI is also providing personal loan at affordable rates. The personal loan rate of State Bank of India is 9.60 percent. This bank is currently offering discount on processing fee along with low interest on personal loan. ICICI Bank and HDFC Bank rates start at 10.5 per cent.
Source: Patrika : India's Leading Hindi News Portal by www.patrika.com.
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