Personal Loan | Are you thinking of taking a personal loan? So these banks are giving cheap loans up to 5 lakhs – easy installments
Today in this article we will know which back loans are given with what percent interest rate and how much processing fee. If you need a personal loan, banks and non-banking finance companies are now providing personal loans easily.
- If you need a personal loan, pay special attention to the interest percentage and processing fee while taking it.
- If your credit score is good then all banks and non-banking companies are giving fast loans.
- In some banks, digital personal loan facility has also started
While taking a loan, we first look at the percentage of interest that if we get a low interest loan from somewhere, we will get the job done. Apart from this, attention is paid to its processing fee. Although the processing fee has to be paid once only while taking the loan but it is very important for you. Keeping all these important points in mind, if you are thinking of taking a loan of up to five lakhs, then there are some banks and non-banking organizations that are providing cheap personal loans, let us take advantage of it. Where you can get a loan easily and quickly. Hope you find this article useful.
Below is the information up to the percentage of all banks.
State Bank of India.
The percentage of annual interest for taking a personal loan in SBI Bank starts from 9.60 to 13.85 percent. If you want to take a loan of five lakh rupees for five years, you may have to pay an EMI of Rs 10525-11595. Here the processing fee for this loan is up to 1.5 percent which will be up to a maximum of Rs 15000.
The loan percentage in this bank ranges from 9.75 percent to 15 percent annual interest and is giving loans up to 5 lakh rupees. In which if we go, its EMI for 5 years ranges from Rs.10562-11895. The processing fee percentage is only 1 percent.
Loans in this bank are being given from 9.99 percent to 16.49 percent interest per annum up to 5 lakhs for 5 years. The installments per month mean EMI ranges from Rs 10621-12290. Here the processing fee in this bank is 3 percent of the loan amount.
Bank of Baroda:
This bank is giving a loan of 5 lakhs at an annual interest rate of 10 percent to 15.60 percent if you take it for five years. The installments per month ie EMI ranges from Rs 10624-12053. This bank charges between 1000 to 10,000 rupees as processing fee.
IDFC First Bank:
IDFC First Bank is offering loans at an initial interest rate of 10.49 percent per annum. If you want a loan of 5 lakhs from a bank for a tenure of 5 years, the EMI starts from Rs 10809 and the processing fee is up to 3.5 percent of the loan amount.
If you are thinking of taking a loan, this bank is offering personal loans at interest rates ranging from 10.50 percent to 21 percent per annum. If you want a loan of 5 lakhs for 5 years then the monthly installment ie EMI is Rs 10747-13527. While the processing fee for that is up to 2.5 percent of the loan amount or a maximum of Rs 25,000.
If you are thinking of taking a loan from ICICI Bank, then for a 5-year loan of 5 lakh rupees, the bank is taking annual interest from 10.50 percent to 19 percent. The monthly installment ie EMI is Rs 10747-12970 and the processing fee is up to 2.50 percent of the loan amount.
Kotak Mahindra Bank:
If you are thinking of taking a loan in Kotak Mahindra Bank, then the bank is giving a personal loan of five lakhs for a period of 5 years, the annual interest rate of which starts from 10.75 percent to 24 percent. The monthly installment ie EMI is Rs 10809-14384 and the processing fee is up to 2.5 percent of the loan amount.
Kotak Mahindra Bank is also offering digital personal loans. The annual interest percentage of which starts from 10.50 percent.
The starting annual interest percentage of this company personal loan is up to 10.99 percent. If you take out a personal loan of Rs 5 lakh for a period of five years, the EMI starts from Rs 10,869 per month. The processing fee is up to 2.5 percent of the loan amount.
If you are thinking of taking a loan in Axis Bank, then it is giving personal loan at an annual interest rate of 12 percent to 21 percent, in which if you take a loan of five lakhs for a period of five years, then the monthly installment is EMI 11122-13527. The processing fee ranges from 1.5 to 2 percent of the loan amount.
Bajaj FinServ personal loan interest rates start from 13 percent per annum and if you are thinking of taking a loan, the monthly installments of 5 lakhs for five years ie EMI starts from Rs 11377. The processing fee is up to 4 percent of the loan amount.