Do you want a loan? Top 5 banks that offer the cheapest loans in the country …


Mumbai: It is a common thing to take a bank pass loan these days. However, in the current situation, banks are also giving loans very carefully. The most important thing to take a personal loan from any bank is if your credit score is more than 750, the bank can give you some relief on the interest of personal loan. Your credit score determines how much personal loan you can get.

  • SBI offers personal loans at 9.60 per cent
  • HDFC offers personal loans at 10.50 per cent
  • Union Bank of India offers loans at the lowest rates
  • The bank offers personal loans at the rate of 8.90

The cheapest personal loan in the country is currently offered by Union Bank of India. The bank offers personal loans at an interest rate of 8.90 to those with a credit score of more than 700. Punjab National Bank, the country’s second largest state-owned bank, offers personal loans at an interest rate of 8.95 per cent. However it is for paramilitary and defense personnel on interest. For the general public, interest rates on bank personal loans start at 11.30 per cent.

The amount of personal loan is determined on the basis of repo rate

The Central Bank of India determines the amount of personal loan based on the repo rate. Therefore, with the change in the repo rate of the Reserve Bank of India, the interest rate also keeps changing. The bank currently offers personal loans at an interest rate of 9.85 per cent while the interest rate in the medium risk category is 10.05 per cent. Indian Bank, the country’s 7th largest bank, offers personal loans at an interest rate of 9.05 per cent. However, the interest rate is for women and the personal loan rate for men is 9.20 per cent.

Bank of Maharashtra offers personal loans to those with a credit score of more than 750

Bank of Maharashtra offers personal loans at 9.55 per cent to those with a credit score of more than 750. Personal loans are given at an interest rate of 10.55 per cent to those with a credit score of 600 to 649. State Bank of India, the country’s largest bank, offers personal loans at an interest rate of 9.60 per cent. HDFC Bank, the largest private bank, offers personal loans at 10.50 per cent.



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