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PERSONAL LOAN INTEREST RATES COMPARISON – A MUST BEFORE SUBMITTING APPLICATION

The peculiar thing about life is that it never goes in a straight line. You may plan for something but the uncertain aspect of it would make you wait and stretch. It is possible that you want to spend some quality time away from where you reside at. But the sudden medical emergency comes and asks you to spend a fair amount before it gets over. At that time, personal loan can be the saving grace. Similarly, personal loans can be taken to fly around the romantic locations. Itu2019s actually a multi-purpose loan that can be availed for travel, marriage, education, medical emergency, etc. However, you must compare personal loan interest rates of different lenders to choose the right deal.

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PERSONAL LOAN INTEREST RATES COMPARISON – A MUST BEFORE SUBMITTING APPLICATION

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  1. PERSONAL LOAN INTEREST RATES COMPARISON – A MUST BEFORE SUBMITTING APPLICATION

  2. The peculiar thing about life is that it never goes in a straight line. You may plan for something but the uncertain aspect of it would make you wait and stretch. It is possible that you want to spend some quality time away from where you reside at. But the sudden medical emergency comes and asks you to spend a fair amount before it gets over. At that time, personal loan can be the saving grace. Similarly, personal loans can be taken to fly around the romantic locations. It’s actually a multi-purpose loan that can be availed for travel, marriage, education, medical emergency, etc. However, you must compare personal loan interest rates of different lenders to choose the right deal.

  3. Why Is It Important to Compare Personal Loan Rates? It is important to compare personal loan rates so that you can achieve the following benefits. Helps in Choosing the Right Deal – The comparison of interest rates would help you choose the right deal. Helps to Keep the Outflow Under Control – The EMI and total interest outgo would be based pretty much on the interest rates the bank or NBFC charges from borrowers. Overcomes Repayment Uncertainty – If you have chosen a personal loan deal carefully after comparing the interest rates of different lenders, you can kick out the repayment uncertainty that could be the case otherwise.

  4. How to Compare Personal Loan Interest Rates? You can either visit the fintech websites wherein the personal loan interest rates of different banks or NBFCs would be there online or go to different bank websites individually, check the rates and compare them. How to Assess the Impact of Personal Loan Rates? The impact of interest rates can be best assessed with the help of personal loan EMI calculator. The calculator takes into account the rate of interest rate to sum up the repayment in the form of EMI, abbreviated for Equated Monthly Installment, and overall interest outgo. Besides interest rates, you would also need to enter the loan amount and tenure to sum up the EMI applicable to a loan.

  5. SBI Personal Loan Interest Rates State Bank of India (SBI), the country’s largest lender, offers customized personal loan schemes at varied interest rates. It offers the loan under Xpress Credit brand. There are different rates for defence personnel, SBI salary account holders, IT employees, etc. The rates can be as low as 11% and as high as 15.40% per annum.

  6. HDFC Personal Loan Interest Rates HDFC Bank is one of the renowned private sector banks that help individuals get personal loans to fulfill their varied needs. It can charge an interest rate of 15.50%-21.50% per annum. All the eligible salaried can apply for HDFC Personal Loan.

  7. Personal Loan Interest Rates in ICICI Bank ICICI Bank, like HDFC Bank, rules the private banking space and is a phenomenal player in the personal loan space. It offers the loan at interest rates of 11.25%-17.99% per annum for a variety of purposes.

  8. Personal Loan Interest Rates Axis Bank Axis Bank is not far behind SBI, ICICI and HDFC in the personal loan space. It gives the loan at 16%-24% per annum. Personal Loan Interest Rates Comparison Now that the interest rates of some top players are out, you can compare them and choose the right one for you. The existing relationship can help you grab a lower rate deal.

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