Question: What Is The Interest Rate Of Personal Loan?

Which bank has lowest interest rate for personal loan?

Top 10 Banks in India Offering Lowest Personal Loan Interest RatesBanksInterest Rate (p.a.)EMI/1 lakh for 1 YearPunjab National Bank8.95% onwards8743Indian Bank9.05% onwards8747Bank of India9.35% onwards8761IDBI Bank9.50% onwards8,7686 more rows•Mar 25, 2021.

How much personal loan can I get if my salary is 30000?

For example, if you are wondering how much personal loan can I get on a 30,000 salary….Multiplier Method.SalaryExpected Personal Loan AmountRs. 30,000Rs. 8.10 lakhsRs. 40,000Rs. 10.80 lakhsRs. 50,000Rs. 13.50 lakhsRs. 60,000Rs. 16.20 lakhs1 more row•Apr 8, 2020

Can I get personal loan of 20 lakhs?

Take note of the personal loan eligibility criteria mentioned below before applying….Eligibility Criteria for Rs. 20 Lakh Personal Loan.Eligibility CriteriaRequirementsOccupationSalaried or self-employedAgeBetween 23 and 55 yearsNationalityResiding Indian citizenCIBIL score750 and above

How much loan can I get if my salary is 15000?

HDB Financial Services offers personal loans of up to Rs. 20 lakh to individuals who earn a minimum income of Rs. 15,000.

What is HDFC personal loan interest rate?

HDFC Bank Personal loan Interest Rates 2021Interest RatesPre Payment ChargesProcessing Fees10.75% – 17.5%Upto 4.00%Upto Rs.3999/- + GST1 more row

What is the monthly payment on a $10000 loan?

In another scenario, the $10,000 loan balance and five-year loan term stay the same, but the APR is adjusted, resulting in a change in the monthly loan payment amount….How your loan term and APR affect personal loan payments.Your payments on a $10,000 personal loanMonthly payments$201$379Interest paid$2,060$12,7125 more rows

Which bank personal loan is best?

Comparison of Best Personal Loan Providers in IndiaName of the LenderLoan AmountInterest Rate (p.a.)State Bank of India (SBI)Up to Rs. 20 lakh.9.60% onwardsHDFC BankUp to Rs. 40 lakh.10.75% onwardsICICI BankUp to Rs. 20 lakh.11.25% onwardsAxis BankUp to Rs. 15 lakh.12% onwards4 more rows•Nov 19, 2020

How is interest calculated on a loan?

Simple interest Calculation: You can calculate your total interest by using this formula: Principal Loan Amount x Interest Rate x Time (aka Number of Years in Term) = Interest.

What is SBI personal loan interest rate?

9.60%Comparison of SBI PL VS Other LendersParticularsSBIAxis BankInterest Rate9.60% onwards12% to 24%Tenure6 to 72 months12 to 60 monthsLoan amountMax. Rs. 20 lakhMin. Rs. 50,000/Max. Rs. 15 lakhProcessing FeeUpto 1.50% of the loan amount2% of loan principal + GST

What is a good interest rate on a personal loan?

The interest rate of a personal loan is the percentage of the loan principal that lenders charge for borrowers to access the loan funds. On average, personal loan interest rates range from 10% to 28%, but this varies based on inflation, the current demand for credit and other economic factors.

What is the EMI for 20 lakhs personal loan?

Formula of Calculation of EMILoan amountInterest RateEMI per month5 Lakh8.35%Rs. 6,15910 Lakh8.50%Rs. 9,84715 Lakh8.60%Rs. 13,11220 Lakh8.70%Rs. 17,610