People take out personal loan to solve their financial problems or to realize a long-held desire. Since they are frequently extended up to a specific amount without any kind of security, these loans have higher interest rates than others. For personal loan, many institutions are providing tempting interest rates.
Personal loan
Financial institutions including banks and non-banking financial firms (NBFCs) offer personal loan. Personal loans are flexible and can be used for many different things, including weddings, medical costs, home improvements, travel, or any other personal financial need. In light of this, we’re going to tell you today which banks offer personal loans with lower interest rates.
Loan Interest – Bank of Maharashtra
Customers of the Bank of Maharashtra may obtain a personal loan from that institution for up to Rs 20 lakh. The maximum term is 84 months, and the interest rate starts at 10%.
Bank of India
The Bank of India Bank is providing interest rates beginning at 10.25%. The highest loan amount is Rs. 20 lakh, and the maximum repayment period is 84 months.
IndusInd Bank
Customers of IndusInd Bank have access to loans with amounts ranging from 30,000 to 50 lakh rupees. The interest rate ranges from 10.25% to 27%. The loan term may range from one to six years.
Punjab National Bank
PNB consumers can get personal loans up to Rs 10 lakh at interest rates ranging from 10.4 to 16.95 percent from Punjab National Bank. The period of repayment is 60 months.
Bank Axis
Axis Bank offers interest rates starting at 10.49% and has a maximum term of 60 months.
IDFC Bank
Customers of IDFC Bank can choose from a variety of competitive interest rates starting at 10.49% at IDFC First Bank. The maximum loan amount available to borrowers is Rs 1 crore, with a payback period of 6 months to 5 years.
Loan Interest – HDFC Bank
Borrowers of HDFC Bank can obtain personal loans with rates ranging from 10.5 to 24 percent. The highest amount available under the loan is Rs. 40 lakh, and the term can last up to 5 years.
Karur Vysya Bank
Loans up to Rs. 10 lakhs are available from Karur Vysya Bank. The bank offers interest rates that vary from 10.5 to 13.5 percent.
IDBI Bank
Customers of IDBI Bank are eligible for personal loans up to Rs. 50 lakh. At an interest rate ranging from 10.5 to 15.5 percent, the sum can be paid back in 60 months.
ICICI Bank
With interest rates ranging from 10.75 to 19%, the lender offers personal loans up to Rs 50 lakh. Six years is the maximum repayment duration.
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