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Which bank in India provides personal loan at lowest interest?


Date: 15 Apr 2015   Posted By: Mukhtar     Group: Finance & Banking    Category: Banking   

I would like to know which bank in India provides personal loan at lowest interest rates. Beside low rate please inform what are the documents needed to get personal loan from banks. I like to know about the bank which would approve my personal loan instantly with minimum documents?

Want to apply for a personal loan? Find out from this Ask Expert page which bank in India offers the lowest interest rate for a personal loan & the documents required to apply for it.


Author: Timmappa Kamat    16 Apr 2015      Member Level: Platinum     Points : 3  (Rs 3)    Voting Score: 0

The rate of interest is dependent on
a) Amount Of loan
b) Tenure of the loan
It would not be that easy to pinpoint a single bank. Further, these banks change the rates quite often.
On a broader scale, here is what is charged for personal loans-
1. Union Bank- 12 to 14%
2. Bank Of India- 15 to 17%
3. Allahabad Bank - 13 to 14%
4. ICICI - 13 to 18%(depending on Tenure)
5. Bank of Baroda- 14 to 16%
6. Canara Bank - 16 to 18%

This is a broader comparison based on the respective websites. Please note that the websites are not always updated.


Author: Aman    20 Apr 2015      Member Level: Diamond     Points : 1    Voting Score: 0

I don't know the best in your region but I would like to suggest you to not go for "The Bank Of Maharashtra" because I don't think its the best anywhere.




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