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  • Category: Banking

    Which bank in India provides personal loan at lowest interest?


    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.

    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?
  • #8711
    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.

    Live....and Let Live!

  • #8754
    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.
    Regards,
    Aman

    I find that the harder I work, the more luck I seem to have.


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