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Ten banks that are giving the cheapest personal loan, cash troubles will be away in Corona period

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new Delhi. Currently, many people are struggling with financial crises. Many people require immediate cash. In such a situation, people who do not have enough gold or any such fund that they can meet their needs, then in such a situation, they can go towards a personal loan. Where you get capital easily. May you have a good CIBIL score. Many PSU banks across the country are offering your cheap personal loans. The special thing is that if you need money and your CIBIL score is not bad, then you can easily get a personal loan at less than 11% interest, but you will get this rate of interest more than 8.50%.

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These two banks are offering the cheapest personal loan
The two state-owned banks in the country are providing the cheapest personal loan. The cheapest personal loan is from Union Bank, which is offering you a personal loan at an interest rate of 8.90%. If you want 5 lakh rupees for a five-year tenure, then you have to pay an EMI of just Rs 10,355 per month for this interest rate. On the other hand, Punjab National Bank’s personal loan interest rate is only 8.95 per cent. If the same amount is required for the same period, then you have to pay an EMI of Rs 10,367 per month. Let me tell you that these are the two banks which are providing you personal loans at an interest rate below 9%.

These banks have interest rates below 9 percent

banks’ name Interest rate (in percent) EMI per month (in rupees)
Union Bank 8.90 10,355
PNB Bank 8.95 10,367

Low interest rate in these government banks too
If we talk about those banks whose interest rates are below 10 percent, the first name comes from Indian Bank. Indian Bank is charging 9.20 percent interest rate on personal loans. While the interest rate of SBI is 9.60 percent. Bank of Maharashtra is charging 9.70 per cent and Central Bank 9.85 per cent. If a loan of 5 lakh rupees is taken for 5 years, then you will have to pay Rs 10,428, Rs 10525, Rs 10,550 and Rs 10,587 respectively in the four banks. The special thing is that all four banks are government.

Interest rates are below 10 percent in these banks

banks’ name Rate of interest (in percent) EMI per month (in rupees)
Indian Bank 9.20 10,428
SB I 9.60 10,525
Bank of Maharashtra 9.70 10,550
Central bank 9.85 10,587

Private banks are also included in this list
At the same time banks are charging interest rates on personal loans of more than 10 percent and less than 11 percent. First of all, UCO Bank has an interest rate of 10.05 percent. While Bank of Baroda is charging an interest rate of 10.25% on the personal loan. Because of which you will have to pay a monthly EMI of Rs 10,636 and Rs 10,685 respectively for a five-year tenure on a loan of Rs 5 lakh. At the same time, the name of HDFC and Kotak Bank are also included in this list. Both banks are providing personal loans at an interest rate of 10.75 per cent. In such a situation, you will have to pay an installment of Rs 10,809 every month for five years on a loan of five lakhs.

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Personal loan is available here at less than 11 percent interest rate

banks’ name Interest rate (in percent) EMI per month (in rupees)
Uco bank 10.05 10,636
Bank of baroda 10.25 10,685
HDFC bank 10.75 10,809
Kotak Bank 10.75 10,809

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