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Personal Loan Interest Rates ,CLICK HERE TO APPLY 2018 SBI ,HDFC,Axis Bank,ICICI Personal Loan

As the name suggests, a “personal loan” is offered for personal use instead of business or commercial purposes. Personal loans come in handy when we need money for repairing or renovating our home; we are going on a vacation with family or friends; we are preparing for our child’s wedding; and more.
Personal loan interest rate is different for different lenders. It is basically decided on the basis of your employment type i.e. salaried or self employed, your monthly income, your CIBIL score, your existing EMI etc. It is an unsecured loan, thus the short tenure also plays a role in deciding the interest rate.

Personal Loan Interest Rates (May 2018):

Banks Interest Rate
SBI Personal Loan
SBI Personal Loan
12.55%-17.65%
Axis Bank Personal Loan
Axis Bank Personal Loan
15.50%-24%
ICICI Bank Personal Loan
ICICI Personal Loan
11.49%-22.00%
Tata Capital Personal Loan
Tata Capital Personal Loan
12.50% to 19%
Bajaj Finserv Personal Loan
Bajaj Finserv Personal Loan
16%
Fullerton India Personal Loan
Fullerton India Personal Loan
17.25%-35%
IndusInd Bank Personal Loan
IndusInd Bank Personal Loan
Upto 23% per annum
Standard Chartered Personal Loan
Standard Chartered Personal Loan
Upto 27%
Citibank Personal Loan
Citibank Personal Loan
Values based on customer profile;starting at 11.75%
HDFC Personal Loan
HDFC Personal Loan
11.49%-20%
Kotak Mahindra Personal Loan
Kotak Mahindra Personal Loan
11.50-24%
HSBC Bank Personal Loan
HSBC Personal Loan
12.25%-17.50% p.a.

Benefits of Personal Loan:

Benefits of Personal Loan

Below are Personal Loan Interest Rates details of some leading banks:

SBI Personal Loan Interest Rate

The SBI offers a variety of personal loans designed on the requirement of customers of different segments. The interest rate for each kind of loan varies accordingly. And, the State Bank of India does not charge any pre-closure fee.
SBI Personal Loan Schemes Rate of Interest*
Xpress Credit Full Check-off
(Category I)
340 – 390 bps above Base Rate i.e., 12.70% – 13.20% p.a. currently

Partial Check-off
(Category II)
440 – 490 bps above Base Rate i.e., 13.70% – 14.20% p.a. currently

No Check-off
(Category III)
540 – 590 bps above Base Rate i.e., 14.70% – 15.20% p.a. currently
SBI Pension Loans 3.90% above Base Rate, currently 13.20% p.a.
Jai Jawan Pension Loan 4.75% above Base Rate, currently 14.05% p.a.
SBI Saral 8. 50% above Base Rate floating, currently 17.80% p.a.
Festival Loan Scheme 6.75% above Base Rate, currently 16.05% p.a.
Clean Overdraft 8.25% above Base Rate, currently 17.55% p.a.

HDFC Personal Loan Interest Rate

HDFC has special offers, interest rates and charges on HDFC personal loan for HDFC Bank account holders and for woman applicant. It has fast approval process for eligible candidate.
Interest Rates & Charges
Rack interest rate Salaried – 15.75% to 20%
Loan processing charges Up to 2.50% of the loan amount subject to a minimum of Rs. 1,000/- & Maximum of Rs. 25000/- for Salaried Customers.
Prepayment Salaried – No pre-payment permitted until repayment of 12 EMIs
Pre-payment charges Salaried – 13-24 Months – 4% of Principal Outstanding,
25-36 Months – 3% of Principal Outstanding
>36 Months – 2% of Principal Outstanding

Axis Bank Personal Loan Interest Rate

Axis Bank offers personal loan ranging from Rs 50,000 to Rs 15,00,000 with a repayment tenure of 12 months to 60 months. You can even transfer your on-going loans to AXIS bank with the balance transfer facility. It requires minimal documentation and has quick approval.
Interest Rates & Charges
Rate of Interest 15.50% to 24%
Loan Processing Charges 1.50% to 2.00% + Service Tax as applicable
Cheque Bounce Charges Rs. 500 per cheque bounce + Service Tax as applicable
Cheque/ Instrument Swap charges Rs.500 per instance + Service Tax as applicable
Prepayment/ Forclosure Charges Nil
Default Interest Rate @24.00% per annum i.e 2% per month on the overdue instalment

ICICI Personal Loan Interest Rate

ICICI personal loan is a multi-purpose loan that offers fixed rate of interest and flexible tenures
Type Charges
Rate of interest 11.49% to 22%
Processing Fee  Up to 2.25% per year + Service tax
Prepayment charges 5% per year of the principal outstanding amount + service tax
Charges for loan Cancellation Rs. 3000/- + service tax
Extra interest on late payment 24% per year
Prepayment Charges Rs 100/ schedule + Service tax

3 comments:

  1. Personal Loans are an approach to address money related issues during a crisis. It's a kind of unsecured loan and can be utilized for marriage costs, taking care of the hospitality bills, either going for your dream get-away or redesigning your home.
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