Personal loans come handy during unannounced emergencies. Whether there is an unexpected expense during a wedding preparation or renovation in your house, a personal loan can help you with immediate funds.
Personal loans are typically unsecured in nature, which means a security need not be pledged as a collateral for it.
It is important to note that your personal loan eligibility depends on your income, repaying capacity, credit score etc.
Take a look at the personal loan interest rates offered by some of the popular banks in the country.
|Interest Rates on Personal Loan|
|EMI range based on Loan Amount Rs 100000 for tenure of 4 years|
|Lender’s Name||Floating Rate||EMI (In Rs)|
|Allahabad Bank||10.65-13.15||2568 – 2690|
|Axis Bank||16- 24||2834 – 3260|
|Bank of India||11.2-14.2||2594 – 2743|
|Bank of Maharashtra||12.7||2668|
|Central Bank||11.3- 12.55||2599 – 2660|
|Corporation Bank||12.9- 13.9||2678 – 2728|
|HDFC Bank||15.5- 21.5||2808 -3124|
|Karnataka Bank||13.15 -14.6||2690- 2763|
|Punjab National Bank||11.25-15||2597 – 2783|
|State Bank of India||11- 17.05||2585 – 2888|
|UCO Bank||10.85- 12.85||2577 – 2675|
|United Bank of India||13.45- 14.2||2705- 2743|
|Bajaj FinServ||12.99% onwards||>2682|
|Citi Bank||10.99- 14.5||2584 – 2758|
|Kotak Mahindra Bank||11.5-24||2609 – 3260|
|compiled by BankBazaar.com from respective banks’ websites on May 15, 2019.|
|The EMI range is indicative and calculated on the basis of interest rate range as provided in the table. In actual situation it may include other fees and charges as per bank’s t&c. The interest rate are based as per salaried individual & Pensioners for unsecured personal loan. Actual applicable interest rate may vary based on the credit profile, loan amount, tenure, company you work for and as per bank’s discretion.|