If you want to take a loan of five lakh rupees for five years, then which bank is giving better interest rates, we are giving you information about this in this news. Read which bank is offering better interest rate and EMI.
If you suddenly need money and want to take a loan, then it is very important for you to know which bank has the lowest interest rate. Corona infection has spoiled not only the economy of the country but also of the middle class. Also Read: Good News: Spicejet Passengers Now Can Easily Book Taxis For In Flight The Airport Know When The Facility To Be Start
In such a situation, many people have no other way than to take a loan from the bank for the sudden need. There is such a rush to take a loan that many times we are not able to see a better deal, where the interest rate is less. Where will it be beneficial? In this news, we are giving you information about the best interest rate for personal loan of Rs 5 lakh. Also Read: Free Lpg Connection: Muft Gas Cylinder And Stove No Need Documents
State Bank Of India (SBI)
State Bank of India is the first choice of most of the people. Most people also apply for loan from SBI, if you take loan from SBI, then you will have to pay interest up to 13.85 percent in a year of 9.60%. Apart from this, you will have to pay a processing fee of 1.5 percent. If you take a loan of Rs 5 lakh, then your EMI will be from Rs 10562 to Rs 11895.Also Read: Bank Holidays: Banks to remain closed for 4 days in coming week, check full list here, settle your work today
ICICI Bank
If you take a loan from ICICI Bank, then you will have to pay interest ranging from 10.50 percent to 19 percent. Here you will have to pay the processing fee of 2.5 percent. Here the EMI of a loan of five lakhs for five years will be from Rs 10809 to 14384. Also Read: PM Modi will give Rs 1625 crore to 4 lakh people of the country today, know who will get the benefit?
HSBC Bank
Now calculate the interest and your EMI in HSBC Bank, then its annual interest rate will be between 7.5% to 15%. In this, the processing fee is 1 percent and if you take a loan of Rs 5 lakh from this bank, then you will have to pay EMI from Rs 10562 to Rs 11895.
City Bank
If you take a loan of Rs 5 lakh from Citibank, then the annual interest will range from 9.99 percent to 16.49 percent. In this, you will have to pay a processing fee of three percent of the loan amount. Here you will have to pay EMI from Rs 10621 to Rs 12,290 on an amount of 5 lakhs.
Bank Of Baroda
If you want to know the annual interest rate of Bank of Baroda, then it will be from 10% to 15.60% percent. Here you have to pay the processing fee on the basis of amount. If you take a loan of Rs 5 lakh for 5 years, then you will have an EMI of Rs 10624-12053.
HDFC Bank
If you take a loan of Rs 5 lakh from HDFC for 5 years, then here you will be charged interest from 10.50% to 21%. You will have to pay 2.5% of Rs 5 lakh as processing fee. Here your EMI will be between Rs 747 to Rs 13527.
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