Personal Loan Interest Rates in Nov 2023…
Personal loans are a versatile financial tool that can help you navigate various life situations, from consolidating debt to funding a major purchase or covering unforeseen expenses. One essential aspect to consider when taking out a personal loan is the interest rate, as it significantly impacts the overall cost of borrowing. In this blog post, you can explore interest rates offered by various banks for personal loans.
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Personal Loan Interest Rates in Nov 2023
The choice of which bank to take a personal loan from depends on your specific financial situation, creditworthiness, and the loan amount you require. Generally, it’s advisable to select a bank that offers the lowest interest rate and reasonable processing fees.
| Bank | Interest Rate (%) | EMI (Rs.) | Processing Fee |
|---|---|---|---|
| Indian Overseas Bank | 10.85-13.00 | 2,167-2,275 | 0.40% to 0.75% |
| ICICI Bank | 10.50-16.00 | 2,162-2,432 | Upto 2.5% + GST |
| Bank of Maharashtra | 10.00-12.80 | 2,125-2,265 | 1% + GST (min ₹1,000) |
| Bank of Baroda | 10.10-18.25 | 2,130-2,553 | 1% to 2% (min ₹1,000 and max ₹10,000) + GST# |
| Kotak Mahindra Bank | 10.5-24.00 | 2,159-2,877 | Upto 2.5% + GST & other charges |
| HDFC Bank | 10.50-24.00 | 2,149-2,777 | upto ₹4,999 |
| Union Bank of India | 9.30-13.40 | 2,090-2,296 | Up to 0.50% (min ₹500) + applicable GST; Nil for women professionals |
| Canara Bank | 10.65-16.25 | 2,157-2,445 | Nil |
| Bank of India | 10.25-14.75 | 2,137-2,366 | 2% (min ₹1,000 and max ₹10,000) |
| CSB Bank | 10.25-22.00 | 21,37-2,762 | 1% (min ₹250) |
| Indian Bank | 10.00-11.40 | 2,125-2,194 | 1% (max ₹10,000); Nil for Govt/PSU employees |
| IDBI Bank | 11.00-15.50 | 2,174-2,405 | 1% (min ₹2,500) + applicable taxes |
| Axis Bank | 10.49-22.00 | 2,149-2,762 | Not available* |
| Punjab & Sind Bank | 10.15-12.80 | 2,132-2,265 | 0.50% to 1% + GST |
| IDFC First Bank | 10.75-24.00 | 2,212-2,877 | Min. ₹6,999 upto 3.5% (PF+ Insurance)+ GST |
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Union Bank of India with rates between 9.30% to 13.40% and Indian Overseas Bank with rates between 10.85% to 13.00%, providing attractive choices for borrowers seeking lower Personal Loan Interest Rates in Nov 2023.
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However, it’s essential to carefully review the terms and conditions, including any additional charges, before making your decision. Additionally, consider factors such as the loan tenure and repayment options that suit your financial needs. Always compare multiple offers and consult with a financial advisor if needed to make an informed decision to avail Personal Loan Interest Rates in Nov 2023.
Disclaimer:
The content provided in this web post is for informational purposes only and should not be construed as financial advice. Readers are encouraged to consult with financial professionals before making any significant financial decisions.
