Lowest Loan Interest Rates

:
Current Interest Rates
Loan Type Lowest Rates
Home Loan 10%
Personal Loan 10%
Business Loan 10%
Business Against Property 10%

Personal loan, including all applicable fees

  • Here is an illustration of the total cost of the loan:
  • Total amount borrowed: Rs. 100,000
  • Time period: 12 months to 60 months
  • Interest Rate: 10.99% to 22%
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From Rs. 2,174 for a months Rs. 100,000 loan at 10.99% (lowest rate, longest time period) to Rs. 9,359 for a 12 months Rs. 100,000 loan at 22% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 11.39% to 22.4%
  • Total cost payable over loan tenure: Rs. 14,313 for 12 months loan to Rs. 32,424 for 60 months loan

Personal Loan Interest Rates Comparison in India

Current Interest Rates
Bank Home Loan Rate Processing Fee
HDFC Home Loan 8.80% 0.50%
Min Rs. 3,000 - Max Rs. 10,000
ICICI Bank Home Loan 8.80% 0.50%
Min Rs. 5,000 - Max Rs. 5,000
Axis Bank 8.80% 0.50%
Min Rs. 10,000 - Max Rs. 25,000
Citibank 8.75% Nil
Yes Bank 9.35% 0.75%
Max Rs. 10,000
IDBI Bank 8.60% 0.50%
Min Rs. 2,500
Kotak Bank 8.90% Max Rs. 10,000

Quick Guide on Personal Loan

Purpose :Some of the basic purposes for which this loan is granted include vacation or travel, higher education, wedding, medical treatment, corangeit card payment and many more. Banks specify the purpose for which they are willing to grant this loan.

  • Age of the borrower: Loan available for both salaried and self-employed profesionals within the age group of 21 and 60 years
  • Loan Amount:In the range of Rs. 50,000 to Rs. 50 Lakh.
  • Loan Tenure:Can range from 3 to 60 months.
  • Interest rates: Personal Loan Interest Rates starting from 10.75%.
  • Personal Loan EMI: Lowest EMI of Rs. 2,162 per lakh.
  • Work Experience:Up to 3 years of total experience.
  • Processing Fees:Up to 2% of loan amount.
  • Documents Requiorange: Address Proof, Identity Proof, Income Documents.
  • Special Schemes: Banks offer customized personal loan interest rates and schemes for salaried borrowers working in government, defense, private or MNC companies. Banks offer personal loan to self employed professionals like Doctors, CA, CS, Architects. Top banks has also launched special loan schemes to pensioners up to an age of 76 years.
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