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FAQs
Which bank gives a personal 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.
How much loan can I get from Bob? ›
The maximum regulatory limit is Nu. 500,000 per person at a time or 70% LTI whichever is lower.
What is the EMI for 5 lakh personal loan? ›
For Rs 5 lakh personal loan, the EMI for 1-year loan tenure at an 11.99% rate of interest per annum is ₹ 44,442, 2-year tenure is ₹ 23,534, 3-year tenure is ₹ 16,605, 4-year tenure is ₹ 13,164 and 5-year tenure is ₹11,120. Disclaimer: These are approximate EMI calculations, actual numbers may vary.
Who is eligible for 5 lakh Personal Loan? ›
Minimum income required is Rs 15,000 p.m. for salaried borrowers. Individuals having credit score of 750 and above usually have higher chances of availing personal loan of Rs 5 lakh and at lower interest rates.
What is the EMI for a 7 lakh Personal Loan? ›
The EMI will depend upon your loan tenure and the interest rate. Example: The EMI for a loan of INR 7 lakhs, assuming a term of 52 months and an interest rate of 11.99% per annum, would be INR 17,326.
What is the easiest loan to get approved for? ›
What is the easiest loan to get approved for? The easiest types of loans to get approved for don't require a credit check and include payday loans, car title loans and pawnshop loans — but they're also highly predatory due to outrageously high interest rates and fees.
Who gives best personal loan? ›
Summary: Best Personal Loans Of May 2024
| Company | Forbes Advisor Rating | Learn More CTA text |
|---|
| SoFi® | 5.0 | Compare Rates |
| Upgrade | 4.8 | Compare Rates |
| LightStream | 4.6 | Compare Rates |
| PenFed | 4.1 | Learn More |
5 days ago
Payment history is weighed the most heavily in determining your credit score, along with your total outstanding debt. Generally, borrowers need a credit score of at least 610 to 640 to even qualify for a personal loan. To qualify for a lender's lowest interest rate, borrowers typically need a score of at least 800.
Is there a 5 year personal loan? ›
Loan Features
No guarantors required to obtain the Personal loan. A repayment period up to 60 months. Attractive fixed interest rates for 3 months, 1 year and 5 years. If you need additional financing during your loan tenure, we offer you top ups every 6 months.
You may also get Balance by calling Toll Free No. 18002584455 & 18001024455 . If you are existing customer you may get Balance by using Bank's Net banking facility & Mobile banking (BOB World) facility.
How many personal loans can you get from your bank? ›
There are no set limits to the number of personal loans you can have at one time, but that doesn't mean a lender will approve you for a second or third loan. And in many cases, it's not a good idea to stack one on top of the other, and this can prove costly.
What is the interest for 20 lakhs personal loan? ›
₹20 Lakh Personal Loan Interest Rates & Charges
| Personal Loan Interest Rates | 9.99%* p.a. onwards |
|---|
| Lowest EMI Per Month | Starting from ₹2124* per Lakh for 60 months |
| Loan Tenure | 12-60 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources & 4% If paid from other sources |
| Default Interest | 3% per month |
5 more rows₹10 Lakh Home Loan EMI Details
| Loan Amount (₹) | Interest Rate (p.a.) | EMI |
|---|
| ₹ 10,00,000 | 8.45% | ₹ 12,372 |
| ₹ 10,00,000 | 8.45% | ₹ 9,818 |
| ₹ 10,00,000 | 8.45% | ₹ 8,647 |
| ₹ 10,00,000 | 8.45% | ₹ 7,654 |
1 more rowAverage online personal loan rates
| Borrower credit rating | Score range | Estimated APR |
|---|
| Excellent | 720-850. | 12.37%. |
| Good | 690-719. | 14.87%. |
| Fair | 630-689. | 18.40%. |
| Bad | 300-629. | 21.93%. |
5 days ago
The current average personal loan interest rate is 12.22%. People with good or excellent credit may qualify for lower-than-average interest rates, while rates for those with average or poor credit may be significantly higher.
What is the normal interest rate on a personal loan? ›
The average personal loan interest rate was 12.49% in February 2024 on two-year loans, according to the most recent data from the Federal Reserve. But personal loan interest rates can range from 6% to 36%, depending on your credit score, income, current debts, and other factors, such as loan term and amount.
What is personal loan rate now? ›
Personal Loans W.E.F. 06/05/2024
| Scheme | Rate Of Interest ( % ) |
|---|
| Against personal guarantors | 19.00 p.a. |
| Three Defense Forces Police, STF, Civil Security Department | 19.00 p.a |
| Postal Department | 18.00 p.a |
| For migrant workers | 20.00 p.a. |
7 more rows