The festive season is an ideal time to take a loan to meet any expenses you might incur. Personal loan is available for a number of purposes to help you take care of your finances. Loans are granted by banks and nonbanking financial institutions for a wide variety of purposes that includes personal expenses, weddings, home renovations, and to meet emergency needs. Here’s a list of some of the top banks in India and the interest rates offered on their personal loans.
|Bank||Interest Rate||Type of Interest Rate||Processing Fee|
|Bajaj Finserv||11.49% p.a. onwards||Fixed||2.25% - 3% of the loan amount|
|HDFC Bank||15.75% to 20% p.a.||Rack rate||Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- and a maximum of Rs. 250,00/- for salaried customers|
|Axis Bank||15.50% to 24% p.a.||Floating||1.50% to 2.00% + applicable service tax|
|Citibank||As applicable at the time of signing the loan agreement||Fixed||Up to 2.5% of the loan amount sanctioned; deductible from the loan amount at the time of disbursal.|
|Canara Bank||MCLR + 5.45% p.a.||Floating||1 % of the loan amount with a minimum of Rs. 250/-|
|State Bank of India||12.50% to 16.60% p.a.||Floating||2% to 3% of the loan amount + applicable service tax|
|ICICI Bank||11.49% to 22.00%||Subject to revision||Upto 2.25% of loan amount + applicable service tax|
||Fixed||1% of loan amount + applicable service tax|
|IndusInd Bank||11.25% to 26.00% p.a.||Floating||Up to 2.50% of loan amount + applicable service tax|
|Union Bank of India||
||Fixed||0.50% of the loan amount, subject to a minimum of Rs. 500 + applicable service tax|
|United Bank of India||
||Floating||1% of loan amount|
||Floating||1.50% of loan amount subject to a minimum of Rs.500.|
|Bank of India||12.40% to 14.40%||Floating||2% of Loan amount Min Rs.1,000 to Max Rs.10,000 + + applicable service tax (No processing charges for Senior Citizens aged 60 years and above)|
|Fullerton||17.25% - 37%||Fixed||1.5% to 6.0%|
|HDB Financial Services||16-33%||Floating||3%|
|Kotak Mahindra Bank||11.5% to 24%||Fixed||Upto 2% of the loan amount + service tax and other applicable statutory levies|
|Tata Capital Limited||12.50% - 19.50%||Fixed||0%|
|Standard Chartered Bank||11.99% onwards||Fixed||Get 50% off on processing fees when you apply online|
Apply for a loan online on the BankBazaar website and get a gift card from Amazon worth Rs.1,000. You will also receive Rs.1,000 Goibibo Gocash which you can avail on the Goibibo website for discounts on flights and hotel bookings. Book your loan between 6th October and 30th October to avail the offer. The offer is available for personal loans from partner banks. The partner banks have been listed below.
This festive season, get the best loan to meet your personal needs from top banks and financial institutions. Apply for the finance you need to make this Dussehra special.