Personal Loan: In today’s era of inflation, it has become difficult for people to save, so people take loans to get their work done. If you are also thinking about taking a personal loan for your work, then this news can be very special for you. On the other hand, if you are going to take a loan, then first of all, you must compare the interest rates of the loan. Along with this, you must get information about the processing fee charged on the loan, the repayment period, and the offers available. Let us tell you that loans are being provided at low interest rates through some banks. Let us know about those banks in detail.
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Know where you can get a personal loan at a low interest rate
Let us tell you that Canara Bank is giving loans at a very low interest rate on personal loans. This bank is offering a loan at a minimum interest rate of 9.95 percent. With this, the processing fee is up to 0.25 percent on the loan amount.
HDFC Bank is charging a 9.99% interest rate on a personal loan. Along with this, the bank is charging a processing fee of up to Rs 6500.
Axis Bank is offering a 9.99% interest rate on a personal loan. Here, the processing fee is 2% of the loan amount. Along with this, SBI Bank is offering loans with a minimum interest rate of 10.10%. This processing fee is up to 1.5% of the loan amount.
PNB Bank is charging a minimum interest rate of 10.50% on a personal loan. Here, the processing fee is up to 1% of the loan amount. Whereas ICICI Bank is charging a minimum interest rate of 10.60% on a personal loan. Here, the processing fee is up to 2% of the loan amount.
Kotak Mahindra Bank is offering a minimum interest rate of 10.99% on a personal loan. Here, the processing fee is up to 5% of the loan amount.
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How much will be the EMI on a loan of 10 lakhs?
If you take a loan of 10 lakhs from Canara Bank at an interest rate of 9.95% for 5 years, then your monthly EMI will be Rs 21222. With this, the total interest will be Rs 2 lakh 73 thousand 347.
If you take a personal loan of up to Rs 10 lakhs from HDFC Bank at an interest rate of 9.99% for 5 years, then the monthly EMI will be Rs 21242. Here, the total interest will be Rs 2 lakh 74 thousand 527.
If you take a loan of 10 lakhs from PNB Bank at an interest rate of 10.50% for 5 years, then the monthly EMI will be Rs 21494. Here, the total interest will be Rs 2 lakh 89 thousand 634.