Personal loan EMI Calculator: If you are thinking of taking a personal loan, then this news can be very special for you. Let us tell you that at this time, there are many banks that are offering personal loans, which are available at very low interest rates. If you are going to take a loan, then do compare, because a small difference can give you a benefit of thousands. While taking a loan from the bank, be know of the processing fee, repayment tenure, and offers available, along with the interest rate. In this article, we know in detail about which banks are offering low interest on personal loans in September.
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Personal loans are available here at a low interest rate
Let us tell you that Canara Bank is offering the lowest interest rate on personal loans. On taking a loan from this bank, interest will have to be paid at the rate of 9.95 percent. Along with this, the processing fee is up to 0.25 percent of the loan amount.
Apart from this, HDFC Bank is also charging 9.99 percent interest on personal loans. On taking a loan from this bank, you will have to pay a processing fee of up to Rs 6500.
Axis Bank is offering a minimum interest rate of 9.99 percent on a personal loan. Here, the processing fee is up to 2 percent of the loan amount.
SBI is offering a minimum interest rate of 10.10 percent on a personal loan. Here, the processing fee is up to 1.5 percent of the loan amount.
PNB is offering a minimum interest rate of 10.50 percent on loans. Here, the processing fee is up to 1 percent of the loan amount.
ICICI Bank is offering a minimum interest rate of 10.60 percent on a personal loan. Here, the processing fee is up to 2 percent of the loan amount.
Apart from this, Kotak Mahindra Bank is offering a minimum interest rate of 10.99 percent on a personal loan. Here, the processing fee is up to 5 percent of the loan amount.
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Know how much the EMI will be
Let us tell you that if you take a personal loan of up to Rs 10 lakh for 5 years from Canara Bank, then you will have to pay an EMI of up to Rs 21222 per month. Here, the total interest will be Rs 2 lakh 73 thousand 347.
On the other hand, if you take a personal loan of Rs 10 lakh for 5 years from HDFC Bank at the rate of 9.99 percent, then the EMI every month will be Rs 21242. According to this, the total interest will have to be paid of Rs 2 lakh 74 thousand 527.
On the other hand, if you take a personal loan of Rs 10 lakh for 5 years from PNB Bank at the rate of 10.50 percent, then the EMI every month will be Rs 21494. According to this, the total interest will be Rs 2 lakh 89 thousand 634.