Personal loans can be availed from financial institutions such as banks or non-banking financial companies
Personal loans are versatile and can be used for various purposes.
Personal loans are used by individuals to get out of financial troubles or to fulfill one of their long-held dreams. These loans have higher interest rates than others as they are often given without collateral up to a certain amount. Many banks are offering attractive interest rates on personal loans.
Personal loans can be availed from financial institutions such as banks or non-banking financial companies (NBFCs). Personal loans are versatile and can be used for various purposes such as wedding, medical expenses, home renovation, debt consolidation, travel, or for any other personal financial need.
Take a look at some of these lenders offering low interest rates.
Bank of Maharashtra
Customers can avail up to Rs 20 lakh as a personal loan from Bank of Maharashtra. The interest rate starts from 10 per cent and the maximum tenure is 84 months.
Bank of India
The bank is offering interest rates starting from 10.25 per cent. Borrowers can opt for up to Rs.20 lakh and the maximum repayment tenure is 84 months.
IndusInd Bank
Customers can opt for loans ranging from Rs 30,000 to Rs 50 lakh. The interest rate varies between 10.25 and 27 percent. The loan tenure can be between 1 to 6 years.
Punjab National Bank
PNB offers borrowers an interest rate ranging between 10.4 to 16.95 per cent on personal loans up to Rs 10 lakh. Repayment tenure is 60 months.
axis Bank
Axis Bank offers personal loans between Rs 50,000 to Rs 1 lakh. The interest rate starts from 10.49 per cent and the tenure can go up to 60 months.
IDFC First Bank
With interest rates starting from 10.49 per cent, IDFC Bank offers a range of competitive interest rates to customers. Borrowers can avail up to Rs 1 crore with repayment tenure ranging from 6 months to 5 years.
HDFC bank
Borrowers can avail personal loans with interest ranging between 10.5 to 24 percent. The tenure can go up to 5 years, while the maximum amount that can be availed under the loan is Rs 40 lakh.
Karur Vysya Bank
The lender offers up to Rs 10 lakh in personal loans. The interest rate offered by Karur Vysya Bank ranges from 10.5 to 13.5 percent.
IDBI Bank
IDBI Bank offers personal loans up to Rs 50 lakh to its customers. The amount can be repaid in 60 months at an interest rate ranging from 10.5 to 15.5 percent.
ICICI Bank
The lender offers personal loans up to Rs 50 lakh with interest rates ranging from 10.75 to 19 per cent. The maximum repayment period is 6 years.
