Personal Loan: In this difficult time of corona, a large number of people need personal loans. In such a situation, if you are planning to take it personally, first, definitely check the interest rates of different banks. Sometimes in a hurry and sometimes inadvertently, we lose ourselves. Tell us how much interest is being paid on a personal loan of Rs 5 lakh in the country’s largest banks.
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State Bank of India
1- If you borrow from SBI, you have to pay 9.60% interest up to 13.85% in one year.
2- The processing fee on the loan is 1.5 percent. That means you have to pay 15,000 rupees on 5 lakhs.
3- If you take out a loan of Rs 5 lakh, you will have to pay EMI from Rs 10562 to Rs 11895.
HSBC Bank
- Annual interest rates range from 7.5% to 15%.
- Processing fee is 1%.
- If you take out a personal loan of Rs 5 lakh for 5 years, you will get Rs. 10562 to 11895 EMI payable.
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City Bank
- Annual interest ranges from 9.99 per cent to 16.49 per cent.
- Three percent of the loan amount must be paid as processing fees.
- If you take out a loan of 5 lakhs for 5 years, you will have to pay EMI from Rs 10621 to Rs 12,290.
Bank of Baroda
- The back of the baroda is charging interest from 10% to 15.60%.
- The processing fee is 1 to 10 thousand.
- To borrow 5 lakhs for 5 years, the EMI of Rs 10624-12053 has to be paid.
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HDFC Bank
- The bank charges interest from 10.50% to 21%.
- 2.5% of the loan amount will be paid as processing fees.
- For 5 years, you have to pay between Rs 747 and Rs 13527.
ICICI Bank
- The interest rate ranges from 10.50 percent to 19 percent.
- Process fee of 2.5% of loan amount
- If you take out a loan of 5 Lakhs for 5 years, then you have Rs. 10809 to 14384 payable as EMI.
