look news india
Personal Loan Interest Rate: A personal loan is an unsecured loan that does not require any kind of mortgage of property. There is no collateral in a personal loan, so the bank takes utmost care in calculating the creditworthiness of the borrower. The bank checks the credit score, monthly income, business profile and company profile of the person taking the personal loan. Interest rates on personal loans are usually high, so one should be careful while applying for a loan. According to data from PesaBazaar, some banks are offering personal loans at an interest rate of 10-10.99%.
Bank offering personal loan at lowest interest rate:
Bank Of Maharashtra
This public sector bank is offering the lowest interest rate on personal loans starting from 10%. For a loan of Rs 5 lakh, the EMI is Rs 10,624 for a tenure of 5 years.
Punjab National Bank
Punjab National Bank is offering personal loan at the rate of 10.4%. The EMI for a loan of Rs 5 lakh for a tenure of 5 years is Rs 10,772.
Indusind Bank
Indusind Bank charges an interest rate of 10.49% on personal loans. The EMI for a loan of Rs 5 lakh for a tenure of 5 years is Rs 10,744.
HDFC bank
HDFC Bank is offering personal loan at the rate of 10.5%. The EMI for a loan of Rs 5 lakh for a tenure of 5 years is Rs 10,747.
Punjab And Sind Bank
Punjab & Sind Bank charges an interest rate of 10.75% on personal loans. The EMI for a loan of Rs 5 lakh for a tenure of 5 years is Rs 10,809.
ICICI Bank
ICICI Bank charges 10.8% interest on personal loans. The EMI for a loan of Rs 5 lakh for a tenure of 5 years is Rs 10,821.
bank of india
Bank of India charges 10.85% interest on personal loans. For a loan of Rs 5 lakh, the EMI is Rs 10,834 for a tenure of 5 years.
Canara Bank
Canara Bank charges 10.95% interest on personal loans. For a loan of Rs 5 lakh, the EMI is Rs 10,859 for a tenure of 5 years.
Kotak Mahindra Bank
Kotak Mahindra Bank and IDFC First Bank charge 10.99% interest on personal loans. For a loan of Rs 5 lakh, the EMI is Rs 10,869 for a tenure of 5 years.
