Personal loan rates in India depend on various criteria, one being the income level. Different banks have different classifications based on which interest rates are calculated. To start with whether you are working for an employer (salaried) or you are an employer yourself (self – employed). The factors which determine yourPersonal Loan interest rates are as follows: -
• Income
• Your Company Status
• Credit and Payment history.
• Relationship with the Bank you intend to take loan from.
• Individual’s Negotiating Ability.
Read below how these factors effect your Interest rates **
To help its customers get the best interest rates on personal loans deal4loans has consolidated all the information regarding latest rate of interests at one place. Please keep visiting this section to get updated rates of interests on personal loans.
* Never pay any fee/cash upfront to any person to get loan sanctioned. Processing fee are deducted from Loan amount.
CAT A refers to - Top 1000 companies
CAT B refers to - Multi National Companies( MNC's )
CAT C refers to - Small companies
Non Listed refers to - Smaller companies with 100 emloyees.
Loan Surrogates refers to - Any running loan from any bank
Income : If your Income is above a certain limit, Banks believe that your chances of not paying are lesser as you have Income to pay. Income above 75 per month usually gets some discounts from all personal loan Banks.
Your Company Status : If the company you are working with is a well known corporate, the Banks feel that you are less likely to shift from your job and will result in lesser defaults.
Credit and Payment History : Banks follows Cibil scores/rating before deciding giving loans. If your payments forCredit Cards and Loans is not upto mark , you have the most likely chance of being rejected for the loan or the Bank will give you at a much higher rate.
Relationship with Bank : The Bank where you have your Salary account/Savings account is likely to pass on you to some special rate for your personal Loans or Processing fee.
Individuals Negotiating Skills : Based on your above points you can always ask Bank to give you waivers on Rates, Fees Etc.
Before apply for personal loan, Calculate your personal loan emi with EMI Calculator
Disclaimer: Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.
Banks/ Financial Institutions can contact us at customercare@deal4loans.com for inclusions or updates.
• Income
• Your Company Status
• Credit and Payment history.
• Relationship with the Bank you intend to take loan from.
• Individual’s Negotiating Ability.
Read below how these factors effect your Interest rates **
To help its customers get the best interest rates on personal loans deal4loans has consolidated all the information regarding latest rate of interests at one place. Please keep visiting this section to get updated rates of interests on personal loans.
* Never pay any fee/cash upfront to any person to get loan sanctioned. Processing fee are deducted from Loan amount.
|
Banks/Rates
|
Salaried
|
|||||
|
CAT A
|
CAT B
|
Others
|
Pre-Payment
Charges |
Processing Fees
|
Apply
|
|
|
15.5%
(Salary Above 75,000) 16 % (Salary 50,000 -75,000) 17 % (Salary 30,000 -50,000) 18.25% (Salary 20,000 -30,000) 18.5% (Less Than 20,000) 14% - 14.75% (For Special Corporates) |
15.5%
(Salary Above 75,000) 16 % (Salary 50,000 -75,000) 17 % (Salary 30,000 -50,000) 18.25% (Salary 20,000 -30,000) 18.5% (Less Than 20,000) 14% -14.75% (For Special Corporates) |
15.5%
(Salary Above 75,000) 16 % (Salary 50,000 -75,000) 17 % (Salary 30,000 - 50,000) 18.25% (Salary 20,000 -30,000) 18.5% (Less Than 20,000) |
5%
|
2% - 2.25%
|
 |
|
|
15.75%
(for 75,000 & above salary), 16.25% (for 50,000-75,000 salary), 17.25% (for 35,000-50,000 salary), 19.25% (below 35,000 salary) |
15.75%
(for 75,000 & above salary), 16.25% (for 50,000-75,000 salary), 17.25% (for 35,000-50,000 salary), 19.25% (below 35,000 salary) |
22.25%
|
4%
|
2% if salary
account in HDFC - other wise 2.5%
|
|
|
|
15.75%
|
16%
|
16.5% - 17%
|
Nil
|
2% - 2.5%
|
|
|
|
14.75%
(for 75,000 & above salary), 15.75% (for 40,000 - 75,000 salary), 17.25% (for 30,000 - 40,000 salary) 0.5% Waiver for Ing Salary Account Holder 14.50% for ING Bank Employee |
14.75%
(for 75,000 & above salary), 16.25% (for 40,000 - 75,000 salary), 17.25% (for 30,000 - 40,000 salary) 0.5% Waiver for Ing SalaryAccount Holder 14.50% for ING Bank Employee |
16.25%
(for 75,000 & above salary), 16.75% (for 40,000 - 75,000 salary), 18.25% (for 25,000 - 40,000 salary) 0.5% Waiver for Ing Salary Account Holder 14.50% for ING Bank Employee |
4%
Nil Foreclosure Charges Special Offer. Valid from ( 14th June 12 - 30th Sep 12 ) |
1.5% (For ING
Salary Account Holder),
other wise 2% |
|
|
|
16.75%
(Guarantor required) |
16.75%-20%
(Guarantor required) |
16.75%-20%
(Guarantor required) |
4%
|
2%-3%
|
|
|
|
21% - 32%
|
21% - 32%
|
21% - 32%
|
4%
|
2%
|
 |
|
|
16% - 17%
|
17% - 18%
|
19% - 22%
|
2%-5%
|
2%
|
|
|
|
16%
(for 75,000 & above salary), 17% (for 35,000 - 75,000 salary), 18% ( below 35,000 salary) |
16%
(for 75,000 & above salary), 17% (for 35,000 - 75,000 salary), 18% ( below 35,000 salary) |
17%
(for 75,000 & above salary), 18% (for 35,000 - 75,000 salary), 21% ( below 35,000 salary) |
NIL for Select
Corporates Employees (CAT A & B) 4% For Rest
|
1% - 2%
|
|
|
|
16%
( upto 30,000 salary), 15% (above 30,000 salary) |
17%
( upto 30,000 salary), 16% (above 30,000 salary) |
17%
( upto 30,000 salary), 16% (above 30,000 salary) |
3%
|
1% - 2%
|
|
|
|
Axis Bank
|
15% (For Super CAT
A),
16% (For CAT A)  |
17%
|
19% - 20%
|
Nill
|
2% & Prepayment
Charges Nil
|
|
|
15.5%
|
16.5%
|
18%-19%
|
4%
|
2%
|
|
|
|
15.75%-16.75%
|
16.75%-18.75%
|
N.A.
|
N.A.
|
Rs250-Rs1000/-
|
|
|
|
15%
|
15.5%
|
N.A.
|
N.A.
|
2%
|
|
|
|
14.5%
(undertaking letter required) |
N.A.
|
N.A.
|
N.A.
|
1.50% of the loan
amount or Rs.500/-
|
|
|
|
16%
12%(For pensioners) |
16%-18%
12%(For pensioners) |
16%-18%
12%(For pensioners) |
N.A.
|
N.A.
|
|
|
|
16%
|
N.A.
|
N.A.
|
N.A.
|
N.A.
|
|
|
CAT A refers to - Top 1000 companies
CAT B refers to - Multi National Companies( MNC's )
CAT C refers to - Small companies
Non Listed refers to - Smaller companies with 100 emloyees.
Loan Surrogates refers to - Any running loan from any bank
Income : If your Income is above a certain limit, Banks believe that your chances of not paying are lesser as you have Income to pay. Income above 75 per month usually gets some discounts from all personal loan Banks.
Your Company Status : If the company you are working with is a well known corporate, the Banks feel that you are less likely to shift from your job and will result in lesser defaults.
Credit and Payment History : Banks follows Cibil scores/rating before deciding giving loans. If your payments forCredit Cards and Loans is not upto mark , you have the most likely chance of being rejected for the loan or the Bank will give you at a much higher rate.
Relationship with Bank : The Bank where you have your Salary account/Savings account is likely to pass on you to some special rate for your personal Loans or Processing fee.
Individuals Negotiating Skills : Based on your above points you can always ask Bank to give you waivers on Rates, Fees Etc.
Before apply for personal loan, Calculate your personal loan emi with EMI Calculator
Disclaimer: Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.
Banks/ Financial Institutions can contact us at customercare@deal4loans.com for inclusions or updates.