Hello amigos, Thank you for landing on our page. Today, we are going to share very important information with you. Once in a lifetime, everyone wants to take a personal loan, whether it be to fulfill your family needs, studies, marriage purpose, or domestic work. But, in today’s time getting a personal loan is not a piece of cake but we have done enough research for all the individuals willing to get a personal loan but are confused about the best bank. Now, let’s start our topic
Top 10 Best Banks in India to Get Quick Loan
Following are the best banks in India to get a quick personal loan:- Let’s talk about each bank’s interest rate and many more things in detail.
1) UNION BANK OF INDIA
Union Bank of India has divided its loan section into two
categories, you can check which category fits you the best. Processing Fees is 0.50% of the Loan Amount. If we talk about the maximum loan, you can take us INR 15 lakh for Existing Borrowers and INR 5 lakh for New Borrowers. The interest rate is quite affordable and varies from 8.90% – 13.00% and you get five years i.e,60 months tenure. There is no requirement for security.
2) PUNJAB NATIONAL BANK
PUNJAB NATIONAL BANK has divided the eligibility criteria of availing of personal loans into three categories namely, the firsdrdrawsank, the second check-off facility, and the lastest for the Lic agents. To secure it, it accepts a third-party guarantee. The quantum of finance is Up to 24 times of Gross Monthly Salary with a maximum of Rs.20.00 Lakh depending upon the repaying capacity. Repayment depends from person to person.
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3) CENTRAL BANK OF INDIA
It provides two types of personal loans depending on the occupation and job profile. The central bank of India has also divided its rate of interest into two categories,9.85% for the low category and around 10.05% for those belonging to the medium category. The repayment is 48 equated in monthly installments. If we talk about the processing fees, it is 1% of the loan amount.
4) INDIAN BANK
For a tenure of up to 7 years, the interest rate starts from 9.20%, and the bank charges processing fees of 1% of the loan amount. The maximum loan amount you can take depends on your monthly income or salary i.e, Up to 20 times your gross monthly salary. It gives loan tenure of up to 7 years. Indian Bank provides personal loans from ten thousand to a maximum of two lakhs for the facilities of overdraft.
5) BANK OF MAHARASHTRA
Bank of Maharashtra provides personal loans to salaried individuals having the lowest income of 3 lakhs. The interest rate starts from 9.45% p.a onwards and the processing fees are 1% of the loan amount. The maximum loan amount depends on the gross annual income and rs 20 lakh. And it allows repayment tenure of 7 years or 84 months. It provides Mahasabha personal loans.
6) STATE BANK OF INDIA
State bank of India province loans to the needy, from 50000 to Rs 15 lakhs and the repayment tenure from 6 months to 48 months. It charges an interest rate of 10.55% to 11.20% onwards and the processing fees 2% to 3% of the principal loan amount. If you are someone who has a low monthly income, the State bank of India is the best for you. It provides personal loans to armed forces, defense arms, and NRIs too.
7) UCO BANK
It provides personal loans with a good interest rate of 10.05% to 10.45% per annum. You can get a loan amount of up to 15 lakhs. It provides tenure depending on your monthly income and job profile, for State or Central Government Employees is up to 7 years and up to 5 years for non-govt employees, and up to 4 years for Pensioners. It charges up to a 1% processing fee.
8) BANK OF BARODA
Bank of Baroda gives personal loans up to Rs 15 lakhs with the interest rate at 10% onwards with a banana h tenure of over 15 years. It gives personal loans to pension holders at a 9.35 per annum interest rate. Taking a personal loan at the Bank of Baroda is very simple and hassle-free. It takes a few documents and processes to take your loan.
9) FEDERAL BANK
Federal bank is the largest private sector bank. To all those having a monthly income of 20000 and more, the federal bank gives fed premia personaloansan to them. For the tenure of 4 years, you can get up to Rs 25 lakh as per your needs. The interest rate for this tenure starts from 10.49 per annum. The bank charges processing fees as 3% of the loan amount with additional taxes. The processing of loans is very fast and hassle-free with very few documentation processes.
10) HDFC BANK
You do not need to worry about security, as HDFC never asks. Loan processing fees are Up to a maximum of 2.5% of the loan amount, subject to a maximum fee of Rs.25,000. It gives personal loans to nearly every individual having private or public sector jobs or working at local, state, or government organizations. Applicants’ ages should be more than 21 years and less than 60 years.
Conclusion
I hope you liked today’s information and found it helpful. So, you can choose any of the above banks. We have created this list of best banks for getting personal loans. But, you should definitely go to your nearest branch of that bank to get more information or you can also go to their official websites and you can take help of their customer care services.
Thank you for staying till the end. Stay connected for more valuable information on financial investments with us.
