Current Interest Rate on Personal Loans
| Bank | Interest Rate (p.a.) | Processing Fee |
|---|---|---|
| ICICI Bank | 10.5% p.a. – 19% p.a. | Up to 2.25% |
| HDFC Bank | 10.5% p.a. – 21.00% p.a. | Up to 2.50% |
| Yes Bank | 13.99% p.a. – 16.99% p.a. | Up to 2.50% |
| Citibank | 9.99% p.a. – 16.49% p.a. | Up to 3% |
Furthermore, how much personal loan can I get if my salary is 15000?
A: A salary of Rs. 15,000 generally falls in the category of a low-income borrower group. So, an instant personal loan app with a maximum approval amount of 1.5 Lakhs can be availed by the borrower with a starting salary of Rs. 15,000.
Regarding this, how much personal loan can I get if my salary is 30000? How much personal loan can I get on a ₹30000 salary? According to the Multiplier method, on a salary of ₹30000, you will be eligible for ₹8.10 lakhs for 5 years. Going by the Fixed Obligation Income Ratio method, if you have monthly EMIs of ₹3000, you will be eligible for an amount of ₹7.70 lakhs.
People also ask, how much personal loan can I get if my salary is 40000?
Multiplier Method
| Salary | Expected Personal Loan Amount |
|---|---|
| Rs. 20,000 | Rs. 5.40 lakhs |
| Rs. 30,000 | Rs. 8.10 lakhs |
| Rs. 40,000 | Rs. 10.80 lakhs |
| Rs. 50,000 | Rs. 13.50 lakhs |
Which bank gives loan easily?
Comparison of Best Personal Loan Providers in India
| Lender | Interest Rate (p.a.) | Processing Fee |
|---|---|---|
| HDFC Bank | 10.25% – 21% | Up to 2.5% (Maximum Rs. 25,000) |
| Kotak Mahindra Bank | 10.25% onwards | Up to 2.5% |
| Federal Bank | 10.49% – 17.99% | Up to 3% |
| IDFC FIRST Bank | 10.49% onwards | Up to 3.5% (Minimum Rs. 2,999)** |
Which bank has the lowest interest rate for personal loan?
HDFC Bank, ICICI Bank, Kotak Bank offer the lowest interest rate starting at 10.25% and can be considered the best bank for a personal loan.
Which loan is cheaper as per interest rate?
Since the loan amount is backed by the gold pledged by the borrower, the interest rates are usually on the lower side.
| Gold Loan Lenders | Interest Rates (In Per Annum) |
|---|---|
| HDFC Bank | 9.50% – 17.55% |
| State Bank of India (SBI) | 7.50% |