Banks With Lowest Personal Loan Interest In India
We may need urgent funds for dealing with financial emergencies and money requirements for marriage, vacation, home renovation etc. Personal loans are the most viable sources of quick funds in such scenarios since you don’t require collateral as security and with online applications, you can receive funds within a couple of hours. Make sure to do your research to findthe lowest interest rates loans for an affordable deal.
With digital advancement, several banks now offer instant loans on Aadhaar and PAN card which directly gets credited to your bank account within the same day. A few banks also offer instant personal loans with low effective interest rates and charges. The article below lists the banks offering the lowest personal loan interest rates in India.
Top 4 banks with the lowest interest personal loans in India
Since numerous banks offer personal loans with their own set of criteria and requirements, it is crucial to do your research and find the most affordable deal. The banks mentioned below are among the top personal loan providers with the lowest interest rates. Here is the list:
IDFC FIRST Bank
IDFC FIRST Bank is known for offering affordable banking products and services whether it’sa personal loan or other financial options. The bank offers the lowest personal loan interest rates in the Indian industry with a completely digital application and instant fund access. Here are some discrete features of IDFC FIRST Bank personal loans.
State Bank of India
State Bank of India personal loans interest rates range between 11 to 15% per annum which is competitive in the Indian market. The bank offers personal loans to a variety of customers from different financial backgrounds at affordable rates. You can acquire a maximum loan of up to 20 lakhs and repay them in convenient instalments with flexible tenures of up to 6 years.
Axis Bank
Axis bank comes with attractive features on personal loans along with being affordable. You can apply for loans of up to ₹40 lakhs with Axis bank with personal loan interest rates starting at 10.49% per annum. The bank also offers flexible loan tenures of up to 60 months for easy loan repayments. The application process is quick, simple, and effortless and requires nominal documentation.
HDFC Bank
Personal loans from HDFC Bank offer competitive interest rates ranging between 10.50% to 25% per annum with low administration charges. You can acquire personal loans online for amounts of up to 40 lakhs without collateral as security. The bank offers flexible tenure ranging between 3 months to 72 months for convenient repayment. For pre-approved loans with the bank, you don’t require any documentation.
Choosing a suitable personal loan plan is necessary for avoiding loan repayment problems in the future. You can refer to the above-mentioned banks to help with your loan research and find a suitable loan.
