Top Private Sector Banks Offering Personal Loans
| Bank | Interest Rate (p.a.) | Repayment Tenure |
|---|---|---|
| ICICI Bank | 11.25% onwards | 12 months to 60 months |
| Axis Bank | 16% to 24% | 12 months to 60 months |
| HDFC Bank | 15.50% to 21.50% | 12 months to 60 months |
| Kotak Mahindra Bank | 10.99% to 24% | Up to 60 months |
One may also ask, do private loans have high interest rates?
Interest rates on private student loans for most borrowers will be significantly higher. In addition, students with financial need can qualify for subsidized student loans from the federal government.
Just so, do private loans look at your credit score?
For private loans: Private loans require that at least one borrower have good credit. The lender will perform a credit check to determine whether you qualify for the loan. The higher your credit score, the lower the interest rate you’ll likely receive.
Is 29 percent APR bad?
Dear Vera, It is an unfortunate truth that one can very quickly do major damage to one’s credit score. However, the reverse is true when trying to build credit back up.
Is a 15 interest rate high?
From 2018 through 2020, that number fluctuated between 13.63% and 15.13%, so it’s a good bet anything below 15% is average or better. Credit cards that were assessed interest had higher average APRs—15.91% was the average in the first quarter of 2021 and got as high as 17.14% between 2018 and 2020.
Is Sallie Mae a private lender?
Sallie Mae is one of the largest private student loan lenders in the industry. … The lender offers undergraduate, graduate, career training, MBA, medical school, and dental school loans.
What is a good APR rate for a personal loan?
What is a good APR for a personal loan?
| How’s your credit? | Score range | Estimated APR |
|---|---|---|
| Excellent. | 720-850. | 11.2%. |
| Good. | 690-719. | 15.5%. |
| Fair. | 630-689. | 20.5%. |
| Bad. | 300-629. | 25.3% (Lowest scores unlikely to qualify). |
Which bank gives loan easily?
HDFC Bank customers can get Personal Loans with minimal or no documentation. In fact, if they are pre- approved for a Personal Loan, they can easily apply for it. Lower interest rates: Interest rates on Personal Loans are lower than other sources.
Which bank has less interest rate for personal loan?
Compare Best Personal Loan in India
| Bank | Interest Rates | Lowest EMI Per Lakh |
|---|---|---|
| HDFC Bank Personal Loan ⊕ Compare | 10.25% | ₹ 2,137 |
| ICICI Bank Personal Loan ⊕ Compare | 10.25% | ₹ 2,137 |
| Bajaj Finserv Personal Loan ⊕ Compare | 12.99% | ₹ 2,275 |
| IDFC First Bank Personal Loan ⊕ Compare | 10.49% | ₹ 2,149 |
Which is the lowest interest rate loan?
Lowest Personal Loan Interest Rate in India
| Bank | Rate of Interest | Maximum Loan Amount |
|---|---|---|
| HDFC Bank | 10.25% | ₹ 75,00,000 |
| Standard Chartered Bank | 11.50% | ₹ 50,00,000 |
| Kotak Bank | 10.25% | ₹ 50,00,000 |
| IDFC First Bank | 10.49% | ₹ 40,00,000 |