Low Interest Personal Loans in India
Low Interest Personal Loans in India
If you’re looking for a low interest personal loan in India, there are several options available. Here are some of the best Low Interest Personal Loans in India for 2023:
ICICI Bank: This bank offers personal loans with interest rates as low as 10.50% per annum. They offer loan amounts ranging from Rs. 50,000 to Rs. 25,00,000 with repayment terms up to 60 months. The eligibility requirements are flexible, but borrowers must have a good credit score and a stable income to apply.
Axis Bank: This bank offers personal loans with interest rates as low as 10.49% per annum. They offer loan amounts ranging from Rs. 50,000 to Rs. 15,00,000 with repayment terms up to 60 months. The eligibility requirements are flexible, but borrowers must have a good credit score and a stable income to apply.
Bajaj Finserv: This online lender offers personal loans with interest rates as low as 11.99% per annum. They offer loan amounts ranging from Rs. 1,00,000 to Rs. 25,00,000 with repayment terms up to 60 months. The eligibility requirements are flexible, but borrowers must have a good credit score and a stable income to apply.
HDFC Bank: This bank offers personal loans with interest rates as low as 10.75% per annum. They offer loan amounts ranging from Rs. 50,000 to Rs. 40,00,000 with repayment terms up to 60 months. The eligibility requirements are flexible, but borrowers must have a good credit score and a stable income to apply.
Kotak Mahindra Bank: This bank offers personal loans with interest rates as low as 10.75% per annum. They offer loan amounts ranging from Rs. 50,000 to Rs. 30,00,000 with repayment terms up to 60 months. The eligibility requirements are flexible, but borrowers must have a good credit score and a stable income to apply.
Kotak Mahindra Personal Loan might be a good fit for you if you’re looking for a quick loan approval with a fully digital process. Kotak Mahindra Bank provides a reliable solution to meet your financial needs with interest rates that start at 11% (if your CIBIL score is 750 or higher) and can reach a whopping 24% (if your credit score is truly in bad shape). A loan for Rs. 1 lakh over 5 years could have an EMI of Rs. 2162.
When considering a low-interest personal loan, it’s important to read the terms and conditions carefully, including the interest rate, fees, and repayment terms. It’s also important to make sure that the loan payments fit within your budget and that you can repay the loan on time to avoid late fees and further damage to your credit score.
Most reputable private sector lenders offer personal loan interest rates starting at 10p.49p. a. Public sector banks like Indian Bank, Bank of India, and Punjab National Bank, however, offer the lowest personal loan interest rates. It should be noted that the personal loan interest rates provided by any lender will be based on the applicant’s credit rating, monthly income, employment history, etc. Comparison of the personal loan interest rates offered by as many lenders as possible is recommended in order to select the best and most appropriate loan offer.
The majority of banks charge personal loan interest rates between 9% and 24% p. a. It may be simpler for you to obtain low interest personal loans if you satisfy all of the lender’s eligibility requirements. Get an instant disbursement when you apply for a personal loan today. Your best personal loan interest rates are available if your credit score is 750 or higher. The EMI that must be paid depends on the interest rate on your loan. The EMI amount increases with the interest rate.
