Hello Amigos, Thanks for visiting our page. Today we are going to share a very important information with you. Once in a lifetime, everyone wants to take a personal loan, be it for meeting your family needs, for studies, for marriage purpose or for household chores. But, getting a personal loan is not an easy task in today’s time, but we have done enough research for all the individuals who want 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 Loans
The following are the best banks in India to get a quick personal loan:- Let us talk in detail about the interest rate of each bank and many more.
1) Union Bank of India
Union Bank of India has divided its loan segment into two categories, you can check which category suits you best. The processing fee is 0.50% of the loan amount. If we talk about the maximum loan, you can take us Rs 15 lakh for existing borrowers and Rs 5 lakh for new borrowers. The interest rate is quite affordable and varies from 8.90% – 13.00% and gives you a tenure of five years i.e. 60 months. There is no need for security.
2) Punjab National Bank
Punjab National Bank has divided the eligibility criteria for availing a personal loan into three categories namely firsdrdrawsank, second check-off facility, and last for LIC agents. To be safe, it accepts third party guarantees. The quantum of finance is up to 24 times of Gross Monthly Salary with a maximum of Rs 20.00 Lakhs depending on the repayment capacity. Repayment depends from person to person.
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3) Central Bank of India
It offers two types of personal loans based on business and job profile. India’s central bank has also divided its interest rate into two categories, around 9.85% for those belonging to the low category and around 10.05% for those belonging to the middle category. The repayment is equal to 48 in monthly installments. Talking about the processing fee, it is 1% of the loan amount.
4) Indian Bank
For tenors up to 7 years, the interest rate starts at 9.20%, and the bank charges a processing fee of 1% of the loan amount. The maximum loan amount you can avail 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 offers personal loans ranging from ten thousand to a maximum of two lakhs for the facility of overdraft.
5) Bank of Maharashtra
Bank of Maharashtra offers personal loans to salaried individuals with a minimum income of 3 lakhs. The interest rate starts from 9.45% p.a. and the processing fee is 1% of the loan amount. The maximum loan amount depends on the gross annual income plus Rs 20 lakhs. And it allows a repayment tenure of 7 years or 84 months. This General Assembly provides personal loans.
6) State Bank of India
State Bank of India province gives loans from 50000 to 15 lakhs to the needy and the repayment period is 6 months to 48 months. It charges an interest rate of 10.55% to 11.20% and a processing fee of 2% to 3% of the principal loan amount. If you are a person with low monthly income, then State Bank of India is best for you. It also provides personal loans to Armed Forces, Defense Arms and NRIs.
7) UCO Bank
It offers personal loans with a good interest rate of 10.05% to 10.45% per annum. You can get loan up to 15 lakhs. It offers tenure based on your monthly income and job profile, up to 7 years for state or central government employees and up to 5 years for non-government employees and up to 4 years for pensioners. It charges a processing fee of up to 1%.
8) Bank of Baroda
Bank of Baroda offers personal loans up to Rs 15 lakh with interest rates as high as 10%, with tenures exceeding 15 years. It gives personal loans to pension holders at an interest rate of 9.35 per annum. Taking a personal loan in Bank of Baroda is very simple and hassle free. There are certain documents and procedures required to avail your loan.
9) Federal Bank
Federal Bank is the largest private sector bank. Federal Bank provides Fed Premium Personalization to all individuals whose monthly income is 20,000 or more. You can get up to Rs 25 lakhs as per your requirement for a tenure of 4 years. The interest rate for this period starts from 10.49 per annum. The bank charges a processing fee of 3% of the loan amount along with additional taxes. The processing of loans is very quick and hassle free with very few documentation procedures.
10) HDFC Bank
You don’t have to worry about security, as HDFC never asks. The loan processing fee is 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 almost every person working in private or public sector or working in local, state or government organizations. Applicants age should be above 21 years and less than 60 years.