Personal Loan Bank List With A Lowest Charged Rate Of Interest

The borrowers can now take personal loans from the banks at an effective rate of interest on their loan amount. Many banks have provided benefits of personal loans to the customers but how to find the right bank? You can read the given article to know the personal loan bank list that offers the best schemes to the customers. The personal loan for salary 20000 is also provided by these top banks. 

Personal loan bank list and their schemes

HDFC Bank: You can apply for a personal loan from HDFC Bank, it is on the top list of personal loan bank list. Because the personal loan interest rates are starting from 10.75% which is quite low and one can pay for the loan amount up to 5 years. Applicants with a minimum salary of INR 15,000 can apply for the HDFC personal loan without any hassle. 

State Bank Of India: Borrow a loan amount maximum up to INR 20 lakh from SBI under its personal loan scheme. The bank charges an interest rate of 11.45% to 14.90% on your borrowed loan amount. You can apply for the personal loan for salary 20000 or less from the State Bank Of India. The loan amount can be paid in equated monthly loan installments with a maximum loan tenure up to 60 months.

Canara Bank: The bank provides the desired loan amount to the customer that is 6 months of the applicant’s net monthly income. You can apply for the Canara bank personal loan for salary 20000. Because according to the personal loan eligibility criteria your net monthly income shouldn’t be less than 25% of the borrowed amount.  

Banks personal loan tools and services for an easy loan process

The personal loan bank list not only known for their lower interest rate and longer repayment tenures but they also provide the best services to the customer. You can use the bank personal loan EMI calculator tool to estimate the loan EMIs for a better understanding of EMI payments. You can compute the EMI of your borrowed amount by mentioning your loan details like loan amount, interest rate and loan tenure inside the calculator. The EMI will be generated instantly within a second as the calculator works on the formula [P x R x (1+R)^N]/[(1+R)^N-1].

Using the same type of personal loan tool you can know the eligible loan amount by entering your net monthly income, liabilities and current loan EMIs. If you want to apply for a personal loan for salary 20000 then check the eligible loan amount using a personal loan eligibility calculator. 

Apply for a personal loan by using the bank online services

With the help of bank online services, you can apply for the desired personal loan scheme by visiting the bank official website or using their mobile banking apps. Submit the necessary details to the bank such as mobile number, email address, income and KYC details for the loan application process. And, when your loan application is approved you are required to pay a processing fee to the bank which can be minimum 1% of your borrowed amount. So, take personal loans from these top banks and satisfy your urgent need of money.