Tuesday, 13 October 2020

Best Bank for Personal Loan in India?

Do you want to know about Best bank for Personal Loan in India, then read full article very carefully.
If you want a huge amount of money suddenly, then personal loan proves to be very useful. There are several banks that provide personal loans to their customers. The benefit of a personal loan is that you have to pay it in equal month-to-month installments (EMI).


At the time of giving a loan to the customer, banks also give information about EMI. To get a personal loan easily, it is important to have a credit score. The loan quantity and the rate of interest thereon is dependent upon your earnings, credit score, repair capacity, and many others.
Best Bank for Personal Loan in India?


The interest on a personal loan is higher than different loans. This is the explanation why it is usually referred to as an Unsecured Loan. It is easy to take, however, repayment is sometimes overshadowed.


There are 10 private and public sector banks in the nation that offer personal loans at relatively low rates of interest.


Allahabad Bank - This bank provides personal loans at 8.40 to 12.90 % interest rate. Also, the EMI might be between Rs 2,047 to Rs 2,270 if the loan quantity is Rs 1 lakh and the duration is 5 years.
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IDBI Bank - This financial institution provides personal loans at a rate of interest of 10 to 12.75 %. Also, the EMI might be between 2,125 and 2,263 if the loan amount is 1 lakh and the duration is 5 years.


Dhanalakshmi Bank - This bank provides personal loans at a rate of interest of 10.40 percent. Also, the EMI will be Rs 2,144 if the loan amount is 1 lakh and the duration is 5 years.


Union Bank of India - This bank provides private loans at an interest rate of 10.50 to 14.50 %. Also, the EMI will be Rs 2,149 to Rs 2,353 if the loan amount is 1 lakh and the duration is 5 years.


Indian Bank - This bank provides personal loans at a rate of interest of 10.65 to 11.25 %. Also, the EMI will be between 2,157 and 2,187 if the loan amount is 1 lakh and the duration is 5 years.


Oriental Bank of Commerce - This bank provides personal loans at an interest rate of 10.80 to 12.30 %. Also, the EMI will be between Rs 2,164 and Rs 2,240 if the loan amount is 1 lakh and the duration is 5 years.


Canara Bank - This bank provides personal loans at a rate of interest of 10.80 to 13.95 %. Also, the EMI might be between 2,164 and a pair of,324 if the mortgage quantity is 1 lakh and the length is 5 years.


Yes Bank - This financial institution provides private loans at a rate of interest of 10.99 to 17.50 %. Also, the EMI will be between Rs 2,174 and Rs 2,512 if the loan amount is 1 lakh and the duration is 5 years.


Central Bank of India - This bank provides personal loans at 11.05 to 11.80 % rate of interest. Also, the EMI will be between 2,177 to 2,214 if the loan amount is 1 lakh and the duration is 5 years.


UCO Bank - This bank provides personal loans at 11.25 to 11.50 % rate of interest. Also, the EMI will be between Rs 2,187 to Rs 2,199 if the mortgage amount is 1 lakh and the duration is 5 years.



These figures are taken from the banks' web site. The EMI is estimated on the basis of rates of interest. These rates of interest on personal loans may vary slightly according to the credit score profile of the person, mortgage quantity, tenure, and many others. At the same time, there may be a slight difference in the quantity of EMI due to other charges.

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